Global Automotive Plastics Market for Passenger Cars Forecast to 2020

Date: 2016-01-03

The automotive plastics market is analyzed with respect to passenger car production and average utilization of automotive plastics per car by weight across regions, such as North America, Europe, Asia-Pacific, and RoW and in terms of volume (tons) and value (USD Million). The automotive plastics market for passenger cars is projected to register a CAGR of 10.9% (between 2015 and 2020) and is expected to account for a market size of USD 40.1 Billion by 2020. The Asia-Pacific region is the largest market for automotive plastics market for passenger cars and is projected to retain this position over the next five years; this is because the region accounts for the highest production as well as consumption of polypropylene across the globe. This is driving the demand for automotive plastics for passenger cars in Asia-Pacific as polypropylene is the largest product type of the former.

The market size of automotive plastics for passenger cars is expected to reach USD 40.1 Billion by 2020 from USD 21.3 Billion in 2014, at an expected CAGR of 8.3% in terms of volume between 2015 and 2020. The high growth rate of the industry is attributable to increasing passenger car production and initiatives by automobile manufacturers towards light-weighting of cars.

The key driving factors of this market include the utilization of automotive plastics in automotive designs which in turn serves various purposes including light-weighting which reduces carbon emissions and fuel economy, improves aesthetics, facilitates unibody design, reduces vehicle noise and vibration, and also acts as insulator for cabin air conditioner. The market is restrained due to various factors, such as the high capital cost and infrastructure due to process reengineering which incurs huge capital cost.

The intensity of competitive rivalry in the automotive plastics market for passenger cars is moderate to high. The automotive plastics market is experiencing high growth which is expected to continue in the near future, mainly driven by types of plastics used, such as polypropylene, polyurethanes, and polyvinyl chloride. The high growth potential of the end-user industries for the above mentioned types is driving the market for automotive plastics in Asia-Pacific.
The automotive plastics market for passenger cars has been analyzed in terms of value (USD) and volume (KT) for four regions, namely, Asia-Pacific, Europe, North America, and RoW. It has been estimated based on its product types, such as polypropylene, polyurethanes, polyvinyl chloride, ABS, HDPE, polycarbonates, PMMA, polyamide, and PET.

The key market players, such as AkzoNobel N.V. (The Netherlands), BASF SE (Germany), Bayer MaterialScience AG (Germany), Borealis AG (Austria),Evonik Industries (Germany), Grupo Antolin-Irausa S.A. (Spain), Johnson Controls (U.S.), Lear Corporation (U.S.), Magna International Incorporated (Canada), Momentive Performance Materials Inc. (U.S.), Royal DSM N.V. (Netherland), SABIC (Saudi Arabia), Teijin limited (Japan), and The Dow Chemical Company (U.S.) among others.


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