Global Automotive Plastics Market for Passenger Cars 2018-2023: Opportunities in Use of Composites and PMMA in Vehicle Car Production
DUBLIN, Aug. 28, 2018 /PRNewswire/ --
The "Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The automotive plastics market for passenger cars is projected to grow from USD 28.20 billion in 2018 to USD 47.33 billion by 2023, at a CAGR of 10.9% during the forecast period.
Automotive plastics are widely preferred for their ability to make automobiles less bulky. They offer enhanced properties, such as impact strength, easy mold-ability, improved aesthetics, and reduced weight, as compared to conventional automotive components. There is also an increasing demand for automotive plastics from emerging economies, such as India and Thailand, which is expected to fuel the growth of the automotive plastics market for passenger cars across the globe.
The automotive plastics market for passenger cars has been segmented on the basis of product type, application, and region. Among types, the polypropylene segment is expected to lead the market during the forecast period, in terms of value. The growth of this segment can be attributed to the low cost of polypropylene and its outstanding mechanical performance and moldability. The polyamide segment, on the other hand, is projected to register the highest CAGR between 2018 and 2023 owing to the increased usage of polyamide in passenger cars, such as in engine covers, airbag containers, and various electronic components.
Based on application, the automotive plastics market for passenger cars has been segmented into interior, exterior, and under bonnet. The interior segment accounted for the largest market share, followed by the exterior segment, in 2017. The use of plastics in the interior application is much higher than in other applications. Plastics are used in various interior components, such as instrument panels, door panels, and pillars, to achieve good surface finish as well as for aesthetic appeal and scratch resistance. The under bonnet application segment is, however, projected to grow at the highest CAGR during the forecast period, in terms of value.
The automotive plastics market for passenger cars has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is estimated to be the largest market for automotive plastics in 2018, and the region is also expected to continue leading the market till 2023 owing to emerging industries in the region's developing economies, such China, India, and Thailand. Rising per capita disposable income, preferences for a nuclear family, and growing trend towards the use of small cars fuel the demand for passenger cars in the region, which subsequently impact the automotive plastics market.
Significant investments in R&D activities to develop new plastic components and highly fragmented market with the presence of a large number of market players make the intensity of competition in the market very high. Fluctuating prices of raw materials adversely impact the overall cost of production incurred by the manufacturers of automotive plastics. High capital costs incurred in the deployment of automotive plastics in existing metallic applications restrict the adoption of automotive plastics in new vehicle designs.
Expansion has been the major developmental strategy adopted between 2014 and 2018 by the key players operating in the automotive plastics market for passenger cars. Companies such as Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), and Compagnie Plastic Omnium (France) have adopted these strategies to strengthen their market presence and customer base as well as gain a competitive edge in the market. These companies also focus on investing in R&D activities to introduce new and cost-effective materials to meet the changing consumer needs.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in Automotive Plastics Market for Passenger Cars
4.2 APAC Automotive Plastics Market for Passenger Cars, By Product Type and Country
4.3 Automotive Plastics Market for Passenger Cars, By Application
4.4 Automotive Plastics Market for Passenger Cars Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Materials Offering Significant Emission Reduction
5.2.1.2 Introduction of New Safety Features and Luxury Components
5.2.2 Opportunities
5.2.2.1 Use of Composites and Pmma in Vehicle Car Production
5.2.3 Challenges
5.2.3.1 High Capital Cost and Cost of Plastic Materials
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP Growth Rate and Forecast of Major Economies
5.4.2 Trends and Forecast of Plastics Industry and Its Impact on Automotive Plastics Market for Passenger Cars
5.4.3 Trends and Forecast of Automotive Industry and Its Impact on Automotive Plastics Market for Passenger Cars
6 Automotive Plastics Market for Passenger Cars, By Product Type
6.1 Introduction
6.2 Polypropylene
6.3 Polyurethane
6.4 Polyvinyl Chloride
6.5 Acrylonitrile-Butadiene-Styrene (ABS)
6.6 Polyamide
6.7 High-Density Polyethylene (HDPE)
6.8 Polycarbonate
6.9 Polybutylene Terephthalate (PBT)
6.10 Others
7 Automotive Plastics Market for Passenger Cars, By Application
7.1 Introduction
7.2 Interior
7.3 Exterior
7.4 Under Bonnet
8 Automotive Plastics Market for Passenger Cars, By Region
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.2 Japan
8.2.3 India
8.2.4 South Korea
8.2.5 Thailand
8.2.6 Indonesia
8.3 North America
8.3.1 US
8.3.2 Canada
8.3.3 Mexico
8.4 Europe
8.4.1 Germany
8.4.2 Spain
8.4.3 France
8.4.4 UK
8.4.5 Russia
8.5 Middle East & Africa
8.5.1 Turkey
8.5.2 Iran
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking
9.3 Competitive Scenario
9.3.1 Expansions
9.3.2 Joint Ventures
9.3.3 Acquisitions
9.3.4 New Product Launches
9.3.5 Agreements & Collaborations
10 Company Profiles
10.1 Magna International Inc.
10.2 Lear Corporation
10.3 Adient PLC
10.4 BASF SE
10.5 Compagnie Plastic Omnium
10.6 Borealis AG
10.7 Covestro AG
10.8 Evonik Industries AG
10.9 Saudi Basic Industries Corporation SJSC (SABIC)
10.10 Grupo Antolin-Irausa S.A.
10.11 Other Key Market Players
10.11.1 Toyota Boshoku Corporation
10.11.2 Faurecia Sa
10.11.3 Toyoda Gosei Co., Ltd.
10.11.4 Sage Automotive Interiors, Inc.
10.11.5 Benecke-Kaliko AG
10.11.6 Royal Dsm Nv
10.11.7 The DOW Chemical Company
10.11.8 Momentive Performance Materials
10.11.9 Teijin Limited
10.11.10 Solvay Sa
For more information about this report visit https://www.researchandmarkets.com/research/2qrsdk/global_automotive?w=5
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