Industry Background:
Automotive plastics are used in the manufacturing of several components used in an automotive. The plastics contents of commercial vehicles comprise about 50% of all interior components, including safety subsystems, door, and seat assemblies. Three types of automotive plastics are polypropylene (32%), polyurethane (17%) and PVC (16%). These three types make up to 66% of the total plastics used in vehicles. The use of plastic components allows overall weight reduction of the vehicles, and hence make them energy efficient. It is estimated that every 10% reduction in vehicle weight results in 5% to 7% fuel saving. Moreover, automotive plastics provide corrosion resistance, toughness, design flexibility, resiliency and high performance at low cost.This growth is primarily driven by Growing Need for Energy Efficient Vehicles, Increasing Need for Design Freedom, And High Performance at Low Cost and Rising Need for Corrosion Resistant Materials That Provide Longer Vehicle Life.
Major Vendors, such as BASF (Germany), Plastikon Industries, Inc (United States), CNR Group, LLC (United States), Dow Inc. (United States), Saudi Basic Industries Corporation SJSC (SABIC) (Saudi Arabia), Mitsubishi Chemical Holdings (Japan), Lear Corporation (United States), Borealis AG (Mubadala Investment Company) (Austria), RAG-Stiftung (Germany) and Milacron Holdings (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Growing Need for Energy Efficient Vehicles
- Increasing Need for Design Freedom, And High Performance at Low Cost
- Rising Need for Corrosion Resistant Materials That Provide Longer Vehicle Life
Market Trend
Restraints
- Growing Environmental Concerns Discouraging Plastic Usage
Opportunities
Growing Demand for Light Weight Vehicles to Increase Fuel Efficiency, Increasing Need for Recyclable Materials for Automotive Manufacturing and Expanding Manufacturing Base of Vehicle Production Likely To Raise Demand
Challenges
Minimizing Overall Manufacturing Cost
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Plastics Study Sheds Light on
The Automotive Plastics Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Automotive Plastics industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Plastics industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.