About Plastic Components
Plastic Components means part or element of the product, system or structure that are made from plastic materials. Plastic are synthetic or semi synthetic substances that contain polymers as their primary component. Plasticity during manufacturing allows the plastic to be moulded, extruded, or pressed into solid subjects of various shapes. Plastic components are used in many industries. From automotive to home appliances and medical devices, components in a variety of plastics are used to protect, enhance and build a huge range of products.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Plastic Components is a fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), SABIC (Saudi Arabia), DOW Inc (United States), DuPont Nemours (United States), Evonik Industries (Germany), Sumitomo Chemicals (Japan), Arkema (France), Celanese Corporation (United States), Eastman Chemical Company (United States), Chevron Philips Chemical Co. (United States), Lotte Chemical Corporation (South Korea) and Exxon Chemical Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Axalta (United States), PPG (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Plastic Components market by Type (-PE (Polyethylene), HDPE (High Density Polyethylene), LDPE (Low Density Polyethylene), -PVC (Polyvinyl Chloride), -ABS (Acrylonitrile Butadiene Styrene), -PMMA (Polymethyl Methacrylate), -PET (Polyethylene Terephthalate), -SAN (Styrene Acrylonitrile) and Others), Application (Automotive, Healthcare, Packaging, Building & Construction, Electrical & Electronics, Textiles, Consumer Good, Transportation, Industrial Machinery and Others) and Region.
On the basis of geography, the market of Plastic Components has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing focus on using sustainable plastic., Implementing recycling programs. and Advancement in plastic material composites.
Market Growth Drivers:
Growing demand for miniaturized and complex plastic component. and Growing use of plastic component in the automotive industry.
Challenges:
The high cost of plastic manufacturing.
Restraints:
Plastic material used in electric vehicles are recycled which cost higher.
Opportunities:
Advancement in plastic technology. and Green revolution in electric vehicle.
Market Leaders and their expansionary development strategies
In November 2022, Engineered plastic components provider acquired contract manufacturer. Provides injection molded components and services to the medical and industrial sectors. The acquisition bolsters the capabilities and strengths of both businesses and make them better equipped to service the growing needs of device manufactures.
In November 2022, Lyondellbasell and Audi announced a first time collaboration to help close the loop mixed automotive plastic waste. Audi is installing plastic seatbelt buckle covers in the Q8 e-tron made using Lyondellbasell plastic that supports the sourcing feedstocks from mixed automotive plastic waste. Plastic component from customer vehicles that can no longer be repaired are dismantled, shredded, and processed by chemical recycling into pyrolysis oil. The pyrolysis oil is used as raw material in Lyondellbasell manufacturing process for the production of new plastic, replacing virgin fossil feedstocks.
Key Target Audience
Plastic Component Manufacturer, Plastic Component Provider, Raw Material Supplier, Government and Regulatory Agency, Investment Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.