Global automotive plastics market is expected to reach $25.5 billion by 2024
DALLAS, June 19, 2019 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global automotive plastics market looks promising with opportunities in the passenger cars, light commercial vehicles, and heavy commercial vehicles. The global automotive plastics market is expected to reach an estimated $25.5 billion by 2024 and it is forecast to grow at a CAGR of 2.6% from 2019 to 2024.The major drivers of growth for this market are increasing demand for lightweight materials for OEMs to reduce vehicle weight in response to stringent government regulations on fuel economy.
Browse 157 market data tables and 182 figures spread through 299 pages and in-depth TOC on "Global Automotive Plastics Market" at https://www.lucintel.com/automotive-plastics-market.aspx
In this market, polypropylene, polyurethane, polyamide, PVC, ABS, polycarbonates, polyethylene, PMMA and other plastics are used for automotive plastics manufacturing for polymer. Lucintel forecasts that the polypropylene, polyurethane, and polyamide segments will show above average growth during the forecast period.
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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.
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Emerging trends, which have a direct impact on the dynamics of the automotive plastics industry, include development of recycling technologies for plastics and replacement of PA 66 with cheaper and advanced PA 6. BASF, Lyondellbassell, Du Pont. Co, Borealis AG, Dow Chemicals, solvay, DSM, SABIC, EXXON Mobile and Arkema and others are among the major suppliers of automotive plastics.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global automotive plastics market by polymer, vehicle type, application, and region has compiled a comprehensive research report entitled "Growth Opportunities in the Global Automotive Plastics Market 2019-2024: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive plastics market by polymer, vehicle type, application, and region.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at [email protected].
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SOURCE Lucintel
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