There are around 30,000 sections in a vehicle, out of which 1/3 are made of plastic. Altogether, around 39 unique sorts of fundamental plastics and polymers are utilized to make a vehicle. Over 70% of the plastic utilized in automotive originates from four polymers: polypropylene, polyurethane, polyamides and PVC. The plastics that are utilized to cause vehicles to have added to more vitality effectiveness, primarily because of weight decrease, alongside consumption opposition, plan adaptability, strength, and better at lower costs. This all prompts better vehicles at lower costs, and higher deals. Plastic utilized for adaptable froth seating, froth protection boards, elastomeric haggles, car suspension bushings, pads, electrical preparing mixes, and hard plastic parts. PVC has great adaptability, is fire resistant, and has great warm soundness, and high gloss.
Automotive plastics Market: Key Players
The research study includes profiles of leading companies operating in the global automotive plastics market. Key players profiled in the report include: Magna International Inc., Lear Corporation, Adient plc., BASF SE, Compagnie Plastic Omnium, Borealis AG, Covestro AG, Evonik Industries AG, SABIC, Grupo Antolin-Irausa S.A., and Others.
Drivers for the Global Automotive Plastics Market:
Increasing demand for high-performance plastics to substitute conventional metals and rubber, also growing product demand for various automobile furnishing such as light panels & displays, steering wheels, fascia systems, and seat covers these are the major driving factors for the global automotive plastics market.
Opportunities for the Global Automotive Plastics Market:
Similarly, increasing consumer spending on luxury and stylish vehicles along with rising automakers’ efforts to cater to diverse customer expectations, rising investment in advanced production technologies all these factors creates the huge market opportunity for the global automotive plastics market in forecast period.
Restrains for the Global Automotive Plastics Market:
But, some factors such as increasing environmental concerns due to intensive energy usage during plastic manufacture, also this manufacturing process creates the risk of land, air & water pollution along with toxic effects on human health hamper the growth of the global automotive plastics market.
Region Wise, Global Automotive Plastics Market Analysis:
Report covers the region wise analysis, global automotive plastics can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global automotive plastics share due to shifting production bases from developed regions to emerging economies, and increasing investments in advanced technologies for vehicular production is expected to bring about a new era of automobiles, positively influencing the automotive plastic market. After the Asia Pacific region Europe region is expected to grow in forecast period. Asia Pacific region is followed by Europe and North America.
Global Automotive Plastics Market: Product analysis
Global Automotive Plastics Market: Application analysis
- Interior/Exterior Furnishings
- Electrical Components
- Under the Hood
Global Automotive Plastics Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East