MARKET OVERVIEW
The plastics are employed in almost every industry vertical from automotive to consumer goods. Physical and chemical properties of the material and cost-effectiveness are key factors boosting the demand for plastic materials. Plastics in the automotive industry are preferred due to their light-weight characteristics and significant carbon-reduction prospects. The positive growth in the automotive industry and technological advances in the plastic material present a favorable scenario for the market players in the coming years.
MARKET SCOPE
The "Global Automotive Plastics 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 plastics market with detailed market segmentation by plastic type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive plastics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on plastic type, the global automotive plastics market is segmented into polypropylene, polyurethane, polyvinyl chloride, ABS, polyamide, HDPE, and others.
- On the basis of application, the market is segmented into interior, exterior, and under bonnet.
- Based on , the market is segmented into passenger cars, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs).
MARKET DYNAMICS
Drivers:
The automotive plastics market is anticipated to grow in the forecast period owing to driving factors such as rising demand for materials that offer significant emission reduction coupled with the introduction of new safety features.
- The use of PMMA and composites offer lucrative growth opportunities for the major players operating in the automotive plastics market in the coming years.
Restraints:
- High capital costs may hamper the growth of the automotive plastics 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 plastics 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 plastics market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE PLASTICS 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 plastics 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 plastics 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 plastics 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.
- Adient plc.
- BASF SE
- Borealis AG
- Compagnie Plastic Omnium SE
- Covestro AG
- Evonik Industries AG
- Lear Corporation
- Magna International Inc.
- SABIC
- TEIJIN LIMITED.
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.