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Automotive plastics are widely used in manufacturing of seat systems, lighting systems, bumpers, automotive carpets, upholstery etc. Automotive plastics have special properties such as more durability, easy moldability, increased thermal stability, scratch resistance, strong resistance to abrasions, impact strength, etc. which makes it an ideal material for manufacturing automobile components. Automotive plastic has a widespread application in BRIC countries Brazil, Russia, India and China. The global automotive plastics market is expected to grow with a CAGR of about 15% during the forecast period of 2016-2023. Increasing demand for passenger vehicles and lightweight materials are the factors responsible for the growth of the global automotive plastics market during the forecast period. Usage of plastic components in vehicles leads to minimum corrosion, easy recyclability of the component along with the substantial design liberty and elasticity in integrating component. Also, usage of plastic offers essential flexibility in terms of vehicle design and even have scope for differentiation as compared to steel or any other material. The average car interior is now made of about 50% plastic. More than 1,000 different car parts are made of plastics. These plastics can be integrated and molded together to replace the need for multiple parts in automobiles. These advantages will surge the growth of the global automotive plastic market during the forecast period.
Increasing government regulations to control vehicle emission is the factor boosting the growth of the global automotive plastic market during the forecast period. In the U.S. vehicle emission standards are managed by Environmental Protection Agency (EPA). Under federal law, the state of California is allowed to promote more stringent vehicle emission standards. California is attempting to regulate greenhouse gas emissions from automobiles. Corporate Average Fuel Efficiency (CAFE) in North America have compelled automobile OEMs to seek alternative methods of vehicular weight reduction in order to improve overall efficiency of the vehicle. The Clean Air Act (CAA) is the comprehensive federal law that regulates air emissions from mobile and stationary sources. The major goal of this act was to achieve national ambient air quality standards in each area of the U.S. in order to address the public health and welfare risks posed by certain vehicular air pollutants. National Environment Policy Act (NEPA) is a United States environmental law that promotes the enhancement of the environment. These government rules and regulations restricts the air pollutants therefore, regulates the usage of plastic enables components.
Source: OBRC Analysis.
The report on global automotive plastics market is segmented on the basis of product type and applications.
Product types in automotive plastics are:
The applications of automotive plastics include:
The report scope is widely categorized on the basis of its segments such as product type and applications. Moreover, the market revenue estimates and forecast includesonly the automotive plastics. However, report scope excludes steel and other automotive components.
Geographically, the global automotive plastics market has been segmented in:
North America accounted for thehighest revenue share of automotive plastics in 2016. The region is expected to dominate the market during the forecast period owing to the stringent government regulations in North America. Stringent government regulations such as the Corporate Average Fuel Efficiency (CAFE) in the region have compelled automobile OEMs to seek alternative methods of vehicular weight reduction in order to improve overall efficiency. Asia Pacific is considered to be the fastest growing region for automotive plastics during the forecast period. Increasing concentration of passenger vehicle manufacturing industries and increasing demand for two wheelers, three wheelers and passenger cars in countries such as China, Japan and India.
Global automotive plastics market report covers segmentation analysis of product type and applications. Report further covers segments of product type which includes ABS, high density polyethylene, polyethylene terephthalate, PMMA (poly methyl methacrylate), polyamide, polycarbonate, polypropylene, polyurethanes and polyvinyl chloride. Polypropylene segment held the largest market share for automotive plastics in 2016. Also, the market for polypropylene is expected to grow during the forecast period. This segment accounts for more than 30% share of the automotive plastic market. Polypropylene is widely adopted in applications such as packaging and labeling of textiles, laboratory equipment, loudspeakers, stationary, plastic parts and reusable containers in automotive sector. The applications of global automotive plastic market include exterior, interior and under bonnet. Under bonnet segment is anticipated to hold the largest market share for applications of the global automotive plastics market during the forecast period.
The major market players of the global automotive plastics market are:
These companies are using various strategies such as merger & acquisition, collaboration, partnership and product launch.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in global automotive plastics market.
Key reasons to buy the report:
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global automotive plastics market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global automotive plastics market, with giving extensive SCOT analysis of key companies.
Key Findings of the global automotive plastics market: