News Crusader

Global Automotive Plastics Market is Expected to Grow by 2020 due to Increasing Preference for Plastics | Industry Analysis by Hexa Research

Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future
Increasing demand for passenger cars on account of increasing income levels in emerging markets across the globe is expected to fuel automotive production. This in turn is expected to drive the demand for “automotive plastics market”.

Global automotive plastics market is expected to grow on account of increasing preference for plastics as a substitute to metals in automotive components. Automotive plastics are widely used in motorcycles, passenger cars and heavy vehicles with an aim to reduce the overall weight of automobiles. Reduction in weight significantly improves fuel efficiency of vehicles. This trend is expected to fuel the demand for automotive plastics over the forecast period. Supporting this trend is government regulations regarding improving fuel efficiency and reducing the weight of vehicles. Increasing demand for passenger cars on account of increasing income levels in emerging markets across the globe is expected to fuel automotive production. This in turn is expected to drive the demand for automotive plastics. Plastics are ideal materials to reduce noise and vibrations in automobiles. Increasing preference for sophisticated automobiles is expected to boost the demand for automotive plastics for such applications. Improving aesthetics and reducing the overall cost of product has driven manufacturers in the market to adopt plastics owing to its cost effectiveness compared to metals and alloys. This is expected to have a positive impact on the market.

Request a sample copy of “Automotive Plastics Market” report @ http://www.hexaresearch.com/sample/65

Volatile raw material costs and high capital investments is expected to pose challenges to market participants. Most plastics are non-biodegradable in nature, which makes them hazardous to environment. Growing concerns regarding environmental effects associated with plastics may act as a hindrance to market growth. Manufacturers in the market are shifting focus on developing bio-based plastics for automotive applications in order to counter the environmental effects caused by conventional plastics. This is expected to provide market participants opportunities in terms of product development.

Product Insights

Polypropylene based automotive plastic was the dominant product segment for automotive plastics market. Abundant availability of raw materials coupled with its low cost compared to other plastics such as high density polyethylene, polycarbonate and other composites can be attributed to high demand for polypropylene in the market. This factor is expected to further drive polypropylene demand to make it the fastest growing product segment over the forecast period. Polyurethane followed polypropylene to emerge as the second largest product segment.

Browse related category market reports @

Advanced Phase Change Materials Market

Polymer Microinjection Molding Market

Coated Fabrics Market

Application Insights

Automotive plastics are widely used to manufacture interior parts, exterior parts and engine compartments. Interior applications of plastics include door panels, instrument clusters, wiring covers etc. Interior application was the dominant application segment for the market owing to vehicle manufacturers’ preference for plastics to improve interior aesthetic appearance and lower manufacturing costs. Exterior applications include bumpers, mirror covers and under the bonnet applications. Increasing importance to reduce vehicle weight is expected to fuel the demand for automotive plastics in exterior applications.

Regional Insights

Asia Pacific is major regional market for automotive plastics. The market in the region is characterized by huge domestic automotive manufacturing industry and growing demand for automotives in emerging markets of India and China. Low manufacturing costs coupled with presence large scale skilled workforce has driven automotive manufacturing over the past few years. On account of these factors, Asia Pacific automotive plastics market is expected to be the fastest growing region. European and North American markets are characterized by stringent regulatory scenario regarding the reduction of vehicle weight.

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Media Contact
Company Name: Hexa Research
Contact Person: Michelle Thoras and Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: http://www.hexaresearch.com/research-report/automotive-plastics-industry/

Calendar

February 2018
M T W T F S S
« Jan    
 1234
567891011
12131415161718
19202122232425
262728  

Latest News

MECOOL M8S Pro+ TV Box is very popular in EU review, Introduced by Top 10 TV Boxes, with VIVIBRIGHT GP100 Projector featuring 3200 lumens recommended

Read Full Article

Alfawise S95 TV Box (2+16GB) On Sale, introduced by Top 10 TV Boxes, with Xiaomi Mi Robot Vacuum Cleaner recommended

Read Full Article

Automotive Filter Market amounted to USD 5.6 Billion in 2016 and it is expected to expand at a CAGR of 8.8 % during the forecast period 2017-2024.

Read Full Article

Automotive Radiator Market size is over USD 14.2 Billion in 2024 with 4.5% CAGR estimation from 2017 to 2024, According to Research Nester

Read Full Article

FIWIA.org Releases Report on Storm Tight Window and Door

Read Full Article

EliKine™ Human Beta-NGF ELISA Kit is Officially Released by Abbkine

Read Full Article

SCISHION V88 TV Box review, featuring Quad-core CPU, Introduced by Top 10 TV Boxes, with Beelink GS1 6K TV Box recommended

Read Full Article

Discount Romeo Santos Tickets: CapitalCityTickets.com is Slashing Their Prices on Romeo Santos Concert Tickets for his 2018 North American Tour Dates with Promo Code

Read Full Article

Judas Priest Concert Tickets: CapitalCityTickets.com is Slashing Their Prices on Judas Priest Concert Tickets for their 2018 Tour Dates

Read Full Article

Kevin Hart Tickets: CapitalCityTickets.com is Slashing Their Prices on Kevin Hart Comedy Tickets for his 2018 “Irresponsible Tour” Dates

Read Full Article

Spring Training MLB Tickets: CapitalCityTickets.com is Slashing Their Prices on 2018 Spring Training Baseball Tickets at Venues Nationwide

Read Full Article

Jason Mraz Tickets: CapitalCityTickets.com is Slashing Their Prices on Jason Mraz Concert Tickets for his 2018 Good Vibes Tour with Promo Code

Read Full Article