The latest report on Automotive Plastics Market by Infinium Global Research gives complete coverage of the automotive plastics market by product (polypropylene, acrylonitrile butadiene styrene, polyurethane, polyethylene, polyvinyl chloride, poly(methyl methacrylate), and others), application (powertrain, interior/exterior furnishings, and electrical components) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of automotive plastics such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Continuous Innovation in The Automotive Plastic to Cater the Growing Need of Automotive Industry
The automotive plastics are engineered polymers used in the automotive sector. These plastics are used as a substitute for steel, glass, and metals in the automotive sector. These are used for interior and exterior purposes in the automobile sector. It is used as a bumper, headlight, doors, safety and window, trunk lid, wheel covers and so on. Owing to the excellent mechanical properties and good look, these plastics are getting increasing acceptance in the automotive sector. These plastics are lightweight material and helps to reduce the overall weight of the automobile to make it fuel-efficient.
The continuous innovation in automotive plastic to cater to the growing need of automotive industry as scratch resistance, impact resistance, easy moldability is helping to grow the demand for different types of automotive plastics products around the globe. Additionally, the increasing focus of the governments to reduce the carbon emission through vehicles is catalyzing the demand for automotive plastics.
However, the availability of the other substitute as glass, steel is retarding the growth of the automotive plastics market. The growing demand for low price, fuel-efficient and environmentally friendly automobile products from developing countries are expected to grow the demand for automotive plastic in the near future.
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Demand for Different types of Automotive Plastics Products Around the Globe
The Asia-Pacific is the largest market of the automotive plastic products, owing to the growing demand of the low price, fuel-efficient and durable automobile is helping to grow the demand of the automotive plastics in this region. Additionally, Asia-Pacific is expected to lead the market at the highest CAGR during the forecasted period. China and India are expected to lead the Asia-Pacific market, owing to the growing disposable income of the middle-class consumer are motivating them to purchase modern automobile products. Furthermore, governments’ invitation to the major MNC automobile companies to set up their manufacturing facilities in this region is boosting the demand for automotive plastic in this region. North America is the second-largest market after Asia-Pacific for automotive plastic products, owing to the extensive presence of the automobile manufacturing companies. The U.S is the leading market of automotive plastic products in the North America region, owing to the high purchase rate of automobiles per person in this region.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the automotive plastics.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.