Overview
The Automotive Plastics Market Is Expected To Exhibit A Significant CAGR Of 4.4% With The Market Size Of USD 38.7 Billion During The Forecast Period (2022-2030). Demand for lightweight materials as well as complexities in the use of other solutions such as greenhouse gas reduction technologies drive the global automotive plastics market. These key growth drivers have incredibly helped the automotive plastics market and are estimated to boost the growth.
Key Vendors:
Teijin Ltd (Japan), AkzoNobel N.V (Netherland), Evonik Industries (Germany), Johnson Controls (U.S.), Magna International (Canada), Momentive (U.S.), Covestro AG (Germany), The Dow Chemical Company (U.S.), BASF SE (Germany), SABIC (Saudi Arabia)
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Analysts studying the automotive plastics market have also shared growth projections in the automotive plastics market research report and have suggested automotive plastics market-based companies to develop growth strategies. High costs and growing demand for steel are the challenges that companies across the automotive plastics market could face. The details covered in the automotive plastics market report cover all the aspects of the industry.
Market Segmentation
The global automotive plastics market has been segmented based on application and type. On the basis of application, the market for automotive plastics is segmented based on drivetrain, electronics, exterior, instruments panel, powertrain, under the hood, interior, others. Additionally, the market on the basis of type, is segmented into Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, Polycarbonate, Polymethyl Methacrylate, Polyurethane, PVC, Polypropylene, and Others.
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Factors like automotive weight reduction and extensive applications in interior furnishings propel the automotive plastics market growth. The automotive plastics market performance has also been studied. The automotive plastics market report provides analysis of past and current trends. In addition to this, the automotive plastics market report offers detailed analysis of application and type segments. The market segmental analysis provided in the automotive plastics market research report offers crucial details about the automotive plastics market based on the data and forecasts till 2023.
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Regional Overview
The automotive plastics market report covers companies functional in the automotive plastics market spread across regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The regional analysis of the automotive plastics market can be found in the market research report. The North American automotive plastics market has several key players functioning in the United States, Canada, and Mexico. Europe has companies in the automotive plastics market across Germany, France, Spain, Italy, and the United Kingdom. The automotive plastics market of the Middle East, Africa, and other regions has also been studied by analysts. A detailed analysis of the automotive plastics market across India, China, and Japan in the Asia-Pacific region is also available for further study.
Competitive Landscape
The automotive plastics market is corroborated by increasing use in the automotive sector. The population growth as well as increasing demand of automotive plastics market based solutions also accelerate the market growth. However, the automotive plastics market can be affected due to high investment needs as well as better benefits offered by steel. The automotive plastics market research report covers all such factors assisting companies in the automotive plastics market to improve their plans and portfolio.
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The automotive plastics market research report also provides company profiles of major businesses. The automotive plastics market report highlights crucial details about organizations operating across North America, Europe, Asia-Pacific (APAC), and the rest of the world regional markets. The details available in the automotive plastics market report cover company strategies, revenue, company size, and mergers and acquisitions in the automotive plastics market. New entrants as well as established organizations can use the data from the automotive plastics market report to further plan their strategies.
Industry News
Frost & Sullivan honors Heng Hiap Industries Sdn on the basis of its latest study of the Malaysian smart waste solutions industry. Bhd with the Engineering Breakthrough Award for Malaysia Smart Waste Solutions in 2020. Heng Hiap Industries stands for the fabrication and customization of superior recycled plastic resins in Malaysia’s fractured recycling sector for use in a number of finished goods. With 18 patents on intellectual property and one registered trademark, Heng Hiap uses scientific advancement to turn plastic scrap effectively into usable upcycled materials.
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