The global automotive plastics market is projected to reach $33.2 billion by 2028, at a CAGR of 4.8% during 2022-2028. The growth of automotive plastics market is driven by increasing demand for lightweight materials for OEMs to reduce vehicle weight in response to stringent government regulations on fuel economy.
Some of the Key Questions answered in this exclusive report are:
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 What are the
business risks and threats to the automotive plastics market?
Q.4 What are some
changing demands of customers in the automotive plastics market?
Q.5 What are the new
developments in the automotive plastics market? Which companies are leading
these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this automotive plastics area and how big
of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this automotive plastics market?
Emerging trends, which
have a direct impact on the dynamics of the industry, include the introduction
of more efficient automatic transmission and increasing demand for hybrid and
dual clutch transmission.
Market Segmentation:
Based on application,
the automotive plastics market is segmented into interior, exterior, under the
hood and electrical components. The passenger car segment accounted for the
largest share of the market in 2022 and is expected to register the highest
CAGR during the forecast period, due to increasing plastic content per vehicle
in emerging applications like oil pans, wheel rims, and battery trays.
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.
Key Players in the
automotive plastics market are BASF, Lyondellbassell, Du Pont. Co, Borealis AG,
Dow Chemicals, Solvay, DSM, SABIC, EXXON Mobil, and Arkema.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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