Automotive Plastic Market Size, Demands, Key Drivers, and Trend Analysis, 2016–2026
The global Automotive plastic market was valued at USD 29.22 Billion in 2018 and is expected to reach USD 67.51 Billion by year 2026, at a CAGR of 11.1 percent. Automotive plastic market is driven by the increase in usage of the automobile, such as personal cars, lightweight commercial vehicle, increase in global population. An average car consists of 5.8% to 10% of plastics in terms of overall vehicle weight, Plastic is light weight material, as compare to metal. Plastic offer enhanced properties, such as high impact strength, it can be easy mold, improved aesthetics, and it helps in reducing weight, as compared to conventional automotive components. Increase in Global vehicle ownership per capita, in 2010 it was 148 vehicles in operation per 1000 people which is increased to 174 vehicles per 1000 people in 2013. China has the largest motor vehicle fleet in the world, with 322 million motor vehicle.
The 2017 Chevrolet Bolt has an
ultra-thin innovative design Chevrolet found that plastics technology helps in
reducing seatback thickness by 2 inches and mass by 6-8 pounds. Parts located
close to engines should withstand high temperature environment and parts are
exposed to a variety of corrosive fluids such as different lubricants and oils
used in car. Conventional materials such as steel and aluminum which are used
under bonnet are gradually being replaced by high-performing plastics. The 2014
Chevrolet Corvette introduce new innovative door trim technology reliant on
plastics thermoplastic polyolefin material specifically developed for this
application, the result is a door-trim skin, foil that offers lower abrasion
and less scratch & marks, resulting in reduced cost and weight.
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Key participants include Magna International
Inc., Covestro AG, Borealis AG, Compagnie Plastic Omnium, Adient plc, Lear
Corporation, Evonik Industries AG, SABIC, Grupo Antolin-Irausa S.A., Teijin
Ltd., Royal DSM N.V., Johnson Controls International PLC, Momentive Performance
Materials
Further key findings from the report
suggest
- Asia Pacific region is expected to grow
and reach USD 31.25 Billion because of increase in population in major
economy such as China and India, and Increase in number of vehicle usage
help in the growth of the Automotive plastic Market
- China has the largest motor vehicle users
in the world it accounts to 322 million motor vehicles registered at the
end of September 2018, which indicate toward the necessity of road marking
which can guide the traveler about rules and safety
- The United States comes to the second
position for the motor vehicles in the world after China. The European
union member countries in 2009, had an estimated ownership rate of 473
passenger cars per 1000 people
- Plastics used in Automotive accounted to
about 5.8% to 10% of the weight of vehicle but it is about 50% of the
volume. Lightweight seats, instrument panels, sound control fabrics, the headliner,
dash and door panels are made with modern polymer combinations
To identify the
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Segments covered in the report:
For the purpose of this report,
Reports and Data has segmented the Automotive plastic market on the basis of
Types, Applications and region:
By Types
(Revenue, USD Million; 2016–2026)
- Polypropylene
- Polyurethane
- Polyvinyl Chloride
- ABS
- other
- Polyamide
- HDPE
- Polycarbonate
- PBT
By Applications
(Revenue, USD Million; 2016–2026)
- Interior
- Exterior
- Electric component
- Under Bonnet
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Regional Outlook
(Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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