Automotive Plastics Market Size Worth USD 54.69 Billion By 2026 | CAGR 7.3%

New York, NY -- (SBWire) -- 12/05/2018 --Global Automotive Plastics Market size is anticipated to reach USD 54.69 billion by 2026 and is estimated to grow at a CAGR of 8.9 % from 2018 to 2026.

Plastic components have found numerous applications in automobile industry. Several advantages of plastic application in vehicle are numerous that results in minimum corrosion leading to longer life span of vehicles, addition to its aesthetics, flexibility in designing and is also recyclable. These advantages of plastics over metal components are driving its demand in the present industry scenario.

Browse Complete summary of this report with TOC on "Automotive Plastics Market, [By Product (Polypropylene, Polyvinyl Chloride, Polyethylene, Polymethyl Methacrylate, Polycarbonate, Polyamides, Polyphenylene Sulfide), By Application (Automobile Interior, Automobile Exterior, Under-the-hood, Electrical components), By Regions]: Market Size & Forecast, 2017 – 2026" at: https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/

These are materials with numerous levels of mechanical strength depending on the resin type, rigidity and higher stability. Moreover, these are cheaper in comparison to its counter parts such as the metal components. Owing to these characteristics, it makes these materials ideal for manufacturing bush, gears, cams, bearings, and even coatings.

In the current industry space, recycled plastics have also gained significant popularity in terms of sustainability and regulatory norms as well. Even the regulatory frameworks are in support of usage of recycled plastics. Moreover, use of these products makes vehicle light weight though maintaining the same rigidity, adds to greater fuel efficiency as well. This ultimately helps in reducing carbon emissions.

Innovations and modification possibilities with plastic components has resulted in higher compatibility of vehicles, encompassing greater levels of safety modification thus utilizing the minimum or optimized space. Hence, being enable to add such technical advantages on use of plastics over any other material is a crucial factor. High performance plastics use for manufacturing of safety equipments of vehicles has the biggest advantage of price affordability and also in adding better look to the interior layouts of the vehicles.

Request for a sample of this research report @ https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/request-for-free-sample

These products are widely being used in the exteriors as well. Body panels, and bumpers are the main exterior pats made of hard plastics. Industry participants invest significant funds in R&D activities for developing modelling techniques for automotive plastics and product development. Light weight polypropylene, thermoplastic blends, bio based developed plastics are among the recent and ongoing research and development subject matters that the OEM's are focused on. Multi-level extrusion for permeability minimization are applied for plastic manufacturing to cater specific automobile manufacturer's needs.

Competitive Landscape and Key Vendors

Asia Pacific accounted for the largest industry share in 2017. The region is host to many world class automobile manufacturers with South Korea, Japan and China leading the regional markets and India becoming the fastest growing car manufacturer in the region.

Owing to favorable regulatory norms for manufacturing and also easy accessibility to the regional market for manufacturing sites, cheap labor etc. are some of the major factors that the automobile manufacturing market is significantly booming in Asia Pacific.

Proximity to the European markets has made it a fast-growing exporter as well. The development of the car manufacturing industry has led to the development of its component manufacturing sector as well. Thus, demand for plastics is increasing at a higher compound annual growth in tandem to the other region markets.

Few of the primary industry players for manufacturing of automotive plastics include Evonik Industries AG, Akzo Nobel NV, BASF SE, Koninklijke DSM NV, Covestro AG, Dow Chemical, Teijin Limited, Solvay, LANXESS, and LyondellBasell Industries Holdings BV.

Make an Inquiry for purchasing this report @ https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/inquire-before-buying

Key Segments

Product Segment

- Polypropylene
- Polyvinyl Chloride
- Polyethylene
- Polymethyl Methacrylate
- Polycarbonate
- Polyamides
- Polyphenylene Sulfide

Application Segments

- Automobile Interior
- Automobile Exterior
- Under-the-hood
- Electrical components

Region

- North America

o U.S.
o Canada

- Europe

o Germany
o UK
o France
o Italy
o Spain
o Russia
o Rest of Europe

- Asia-Pacific

o China
o India
o Japan
o Korea
o Malaysia
o Australia
o Singapore
o Rest of Asia-Pacific

- Latin America

o Brazil
o Mexico
o Argentina
o Rest of Latin America

- Middle East and Africa

o Saudi Arabia
o UAE
o South Africa
o Rest of MEA

Browse related reports by Polaris Market Research:

- Commodity Plastics Market - https://www.polarismarketresearch.com/industry-analysis/commodity-plastics-market/

- Aerospace Plastics Market - https://www.polarismarketresearch.com/industry-analysis/aerospace-plastics-market/

- Medical Plastics Market - https://www.polarismarketresearch.com/industry-analysis/medical-plastics-market/

- Acoustic Insulation Market - https://www.polarismarketresearch.com/industry-analysis/acoustic-insulation-market/

- Adhesion Promoter Market - https://www.polarismarketresearch.com/industry-analysis/adhesion-promoter-market/

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

Contact us

Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com