Global Automotive Plastics Industry – How Market Share Gains Can Boost Priceline’s Revenue Growth Rate?
Revival in vehicle production will be the major factor boosting the demand for automotive plastics. Growing demand for vehicles from emerging economies such as China, India, and the Latin American countries will also drive the market growth.
Dallas, United States – May 2, 2017 /MarketersMedia/ —
The Global Automotive Plastics Market is expected to grow at a CAGR of 13% during the forecast period.
Revival in vehicle production will be the major factor boosting the demand for automotive plastics. Growing demand for vehicles from emerging economies such as China, India, and the Latin American countries will also drive the market growth.
Asia-Pacific region has dominated the overall market share of automotive plastics in terms of volume as well as revenue in 2015, followed by Europe.
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Automotive Plastics have a lot of unique and useful properties such as toughness, durability, recyclability, thermal stability, resilience, resistance, design flexibility and light weight. They are primarily used in automobiles in the interior, exterior and engine components, to reduce the total weight of the vehicle and thus increase the fuel efficiency. It also improves aesthetics, reduces noise and vibrations, cabin insulations etc.
Among the different types of automotive plastics, polypropylene (PP) accounts for 35% of the global consumption, followed by polyurethanes (PU) (17%). Acrylonitrile butadiene styrene (ABS) and polyvinyl chloride (PVC) are the other major plastics in great demand in automobile manufacturing. There is an increasing demand for biodegradable varieties such as starch-based, PHA-, PLA-, PCL-, and PBS-based plastics.
The increase in raw materials prices and huge capital investment are the major factors impeding market growth.
The Global Automotive Plastics Market is segmented by product as polypropylene, polyurethane, acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), polyethylene (PE), polymethyl methacrylate (PMMA), high density polyethylene (HDPE) and polycarbonate (PC).
The global automotive plastics market is also divided on the basis of application as automobile interior, automobile exterior, under the hood and electrical components. The report also studies the global automotive plastics market by segmentation based on geography North America, South America, Europe, Asia-Pacific and rest of the world.
Some of the key players in this market are:
1. BASF Corporation
2. Bayer MaterialScience
3. DuPont Engineering Polymers
4. Lanxess Corporation
Key Deliverables in the Study:
• Analysis for the global automotive plastics market, with region specific assessments and competition analysis on global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the global automotive plastics market on both global and regional scale.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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Source: MarketersMedia
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