Global Automotive plastics market size to touch USD 53.8 billion mark by 2022: Fractovia

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Automotive Plastics Market size, Share
Analysis Fractovia.org
Automotive plastics market size is anticipated to
register USD 53.8 billion by 2022
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Overview

• Plastics provides considerable weight reduction
  for the automobiles resulting in low fuel
  consumption and emission thereby increasing the
  overall vehicle efficiency. Strict norms set by
  CAFÉ (Corporate Average Fuel Economy) have forced
  the automobile manufacturers to improve vehicle
  design fulfilling (complying with) weight
  reduction, low fuel consumption, and emission
  control norms.
• As per the Global Market Insights Inc. report,
  the global automotive plastics market size is
  predicted to reach USD 53.8 billion mark by 2022
  at a CAGR of 13.5 over the period of 2015-2022.
  Rise in demand for automobiles, changes in
  vehicle designs, and the growing mass reducing
  trends to enhance fuel efficiency are few of the
  factors predicted to drive the market growth in
  the coming seven years.

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Product Trends

• The Polymethyl methacrylate (PMMA) automotive
  plastics market size is predicted to grow at a
  CAGR of 12 over the period of 2015-2022 due to
  its growing use/application in rear lights.
  Polypropylene (PP) dominated the automotive
  plastics market having had a worth of USD 4.8
  billion in 2014. These products are widely used
  as metal steel substitutes owing to their
  weight reducing property which in turn helps in
  cost reduction.
• The Polyurethane (PU) automotive plastics market,
  contributing about 17 of the overall size in
  2014, is anticipated to record a CAGR of 10 over
  the period of 2015-2022. PU foam provides
  automobile designers manufacturers the means to
  manufacture seats of vehicles without adding any
  weight to it. Furthermore, the transport sector
  is the biggest user of reaction injection-molded
  PU components.

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Application Trends

• Electrical components applications segment worth
  USD 6.5 billion in 2014 and leading the
  applications segment, is predicted to witness a
  noticeable surge in coming years. Sockets
  manufactured from high performance plastics,
  having key properties such as thermal stability,
  lightweight and corrosion resistance, makes them
  an ideal metal substitute in these applications.
• Power trains applications are expected to grow at
  a CAGR of 10 over the period of 2015-2022 due to
  the growing use of automotive plastics in the
  production of jolt bolts and transmission units.
• Interior exterior furnishing applications
  segment contributed towards 32 of the overall
  automotive plastics demand in 2014 and is
  expected to grow at a rate of 9 over the period
  of 2015-2022. Body light panels, fascia
  systems, and steering wheels are the key parts of
  the application using automotive plastics.

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Browse Full Market Research Report Automotive
Plastics Market _at_ https//www.fractovia.org/news/i
ndustry-research-report/automotive-plastics-market
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_at_ https//www.fractovia.org/request-sample/195
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Regional Trends

• The Asia Pacific automotive plastics market share
  worth USD 9.5 billion in 2014, is predicted to
  witness a significant growth in next few years.
  Shifting of automobile production units to India,
  Thailand, China, and Indonesia by key
  manufacturers due to government initiatives and
  the availability of affordable manpower is
  expected to stimulate the regional growth.
• The Central South America automotive plastics
  market is projected to grow at a CAGR of 10.5
  over the period of 2015-2022. The MEA automotive
  plastics market is likely to witness a
  substantial growth owing to the increase in
  automobile sales in this region.
• Countries like UAE and Saudi Arabia are predicted
  to drive the regional growth. The Latin America
  market size is expected to record a CAGR of 10.6
  over the period of 2015-2022 owing to the
  increase in purchasing capacity of the consumer
  and rise in vehicle sales.

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Competitive Trends

• Key industry participants include Evonik
  Industries, Delphi Automotive, BASF, Johnson
  Controls, The Dow Chemical Company, and AkzoNobel
  N.V. These market players will try to increase
  their share by enhancing their product portfolios
  and expanding their regional presence.

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