MARKET OVERVIEW
The continuous improvements in the quality and performance of various plastic additives are expected to drive the adoption of plastic additives in the automotive industry. The increasing demand for lightweight materials to reduce the weight and to enhance the performance of various types of vehicles is also anticipate to fuel the demand. In addition to this, the growing concerns of environmental protection, the governments of various countries are supporting the development of electric vehicles worldwide. The growing interest and investments in electric vehicles is anticipated to drive the growth of automotive plastic additives market during the forecast period.
MARKET SCOPE
The "Global Automotive Plastic Additives Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive plastic additives market with detailed market segmentation by additive type, plastic type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive plastic additives market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on additive type, the global automotive plastic additives market is segmented into plasticizers, anti-scratch, stabilizers, antioxidants, and others
- On the basis of plastic type, the market is segmented into Polypropylene (PP), Polyurethane (PUR), Poly-Vinyl-Chloride (PVC), and Acrylonitrile Butadiene Styrene (ABS).
- Based on application, the market is segmented into exterior, interior, under the hood, and electronics and electrical.
- Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle.
MARKET DYNAMICS
Drivers:
The automotive plastic additives market is anticipated to grow in the forecast period owing to the increasing advancements in vehicle design to improve performance and fuel efficiency.
- In addition to this, the growing need to reduce production costs and increase commuter safety are also some of the factors that are expected to drive the automotive plastic additives market in the coming years.
- The rising trend of 3D printing and electric vehicles worldwide is expected to offer ample growth opportunities for the global automotive plastic additives market in the coming years.
Restraints:
The effect of plastic additives on health could affect the growth of automotive plastic additives market during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive plastic additives market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive plastic additives market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE PLASTIC ADDITIVES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the automotive plastic additives market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from automotive plastic additives market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive plastic additives market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Akzo Nobel N.V.
- BASF SE
- Clariant
- Covestro AG
- Dow
- Evonik Industries AG
- KANEKA CORPORATION
- LANXESS
- SABIC
- Solvay
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.