According to
a new market report published by Lucintel, the future of the global automotive plastics
market looks promising with opportunities in the passenger cars, light
commercial vehicles, and heavy commercial vehicles. The global automotive plastics
market is expected to reach an estimated $25.2 billion by 2023 and it is
forecast to grow at a CAGR of 2.6% from 2018 to 2023. The major drivers of
growth for this market are increasing demand for lightweight materials for OEMs
to reduce vehicle weight in response to stringent government regulations on fuel
economy. Other major driver includes growth of the global vehicle production
which is expected to grow at a CAGR of 2.5% during the forecast period and to reach
113 million units by 2023.
Polypropylene, polyurethane, polyamide,
polyvinyl chloride, and acrylonitrile butadiene styrene are the major polymer
types used for the production of automotive parts. On the basis of its
comprehensive research, Lucintel forecasts that the polypropylene, polyurethane,
and polyamide segments will show
above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy
commercial vehicle are the major vehicle segments of the global automotive plastics
market. The passenger car segment is expected to show above average growth
during the forecast period due to increasing plastic content per vehicle in
emerging applications like oil pans, wheel rims, and battery trays.
Interior, exterior, under the hood, and
electrical components are the major application segments of the global
automotive plastic market. On the basis of its comprehensive research, Lucintel
forecasts that interior and exterior applications will show above average
growth during the forecast period.
Europe is
expected to remain the largest region due to increasing use of plastic content
per vehicle coupled with stringent government regulations to reduce carbon
emissions and to increase fuel efficiency. Asia Pacific is expected to witness
significant growth over the forecast period because of high vehicle production
and gradually increasing plastic content per vehicle.
Emerging trends, which have a direct impact on
the dynamics of the industry, include development of recycling technologies for
plastics and replacement of PA 66 with cheaper and advanced PA 6.
BASF, Lyondellbassell, Du Pont. Co, Borealis AG, Dow Chemicals, solvay, DSM,
SABIC, EXXON Mobile and Arkema are the major plastic suppliers in the global
automotive plastics market.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global automotive plastic market by polymer, vehicle type,
application, and region. Lucintel has compiled a comprehensive research report
entitled “Growth
Opportunities in the Global Automotive Plastics Market 2018-2023: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a catalyst for growth strategy, as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global automotive plastics market by polymer,
vehicle type, application, and region, as follows:
By polymer ($ Million and million pounds from
2012 to 2023):
- Polypropylene
- Polyurethane
- Polyamide
- PVC
- ABS
- Polycarbonates
- Polyethylene
- PMMA
- Other Plastics
By Vehicle Type ($ Million and million pounds
from 2012 to 2023):
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Application ($ Million and million pounds
from 2012 to 2023):
- Interior
- Exterior
- Under the Hood
- Electrical Components
By Application ($ Million and million pounds for
2017):
- Interior
o
Seating
o
Dashboard
o
Trims
o
Others
- Exterior
o
Bumpers
o
Trims
o
Lightings
o
Fuel systems
o
Others
- Under the Hood
o
Air intake manifolds
o
Engine covers
o
Rocker covers
o
Front end module
o
Fuel lines
o
Other components
- Electrical Components
By Region ($ Million and million pounds from 2012 to
2023):
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
France
o
Russia
o
United Kingdom
o
Italy
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Indonesia
- The Rest of the World
o
Brazil
o
Turkey
This
299-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers the following 11 key questions:
Q.1. What are some of the most promising,
high-growth opportunities for the automotive plastics market by polymer (polypropylene,
polyurethane, polyamide, PVC, ABS, polycarbonates, polyethylene, PMMA and other
plastics), by vehicle type (passenger cars, light commercial vehicles, and
heavy commercial vehicles), by application (interior, exterior, under the hood
and electrical components), and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market? Which companies are
leading these developments?
Q.9. Who are the major players in this market? What strategic
initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big
of a threat do they pose for loss of market share by material or product
substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
