According to a new market report published by Lucintel, the future of the global automotive under the hood plastic market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle segments. The global automotive under the hood plastic market is expected to reach an estimated $3.6 billion by 2023 and it is forecast to grow at a CAGR of 2.7% from 2018 to 2023. The major drivers of growth for this market are increasing demand for lightweight materials for OEM’s to reduce vehicle weight, increasing vehicle production, and stringent government regulations on fuel economy and emissions.
In this market, air intake manifolds, engine covers, rocker covers, and front end modules are some of the major application segments of the under the hood plastic. On the basis of its comprehensive research, Lucintel forecasts that the engine cover and front end module application will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the automotive under the hood plastic market. Passenger car is expected to show above average growth during the forecast period.
In this market polyamides, polypropylene, and other resins are used for under the hood application. Polyamide resin is expected to show above average growth during the forecast period due to high resistance to abrasion, low friction characteristics, electrical resistance, and heat and chemical resistance.
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 increasing fuel efficiency.
Asia Pacific is expected to witness significant growth over the forecast period because of high vehicle production and increasing utilization of plastics in vehicle designs.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of carbon fiber imposed plastics, and development of cellulose enabled hybrid composites. BASF SE, Lyondellbassell, EI Du Pont de Nemours.Co, and Borealis AG are the major under the hood plastic suppliers in the global automotive under the hood plastic market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive under the hood plastic market by application, vehicle type, resin type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Under the Hood Plastic Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive under the hood plastic market by application, vehicle type, resin type, and region, as follows:
By Application Type ($ Million and kilotons from 2012 to 2023)
• Air Intake Manifolds
• Engine Covers
• Rocker Covers
• Front End Module
• Other Components
By Vehicle Type ($ Million and kilotons from 2012 to 2023)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Resin Type ($ Million and Kilotons from 2012 to 2023)
• Other Plastics
By Region ($ Million and Thousand Units from 2012 to 2023)
• North America
o United Kingdom
• Asia Pacific
o South Korea
• The Rest of the World
This 261-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at firstname.lastname@example.org. Lucintel offerings include Mass Transportation, Transportation Market Report, SWOT Matrix, Due Diligence and Mergers & Acquisitions.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive under the hood plastic market by application (air intake manifolds, engine covers, rocker covers, front end modules, and other components), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), resin type (polyamide, polypropylene, and other plastics), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?