Global Automotive Plastic Market: Overview
Global Automotive Plastic market report provides analysis for the period 2013–2025, wherein the period from 2018 to 2025 is the forecast period and 2017 as base year. The market study reveals that the global automotive plastic market is expected to grow with a CAGR over 12.72% during 2018-2025 in terms of value. The market is expected to reach around USD 59 billion by 2025. This growth is driven by a number of reasons such as growing demand for light weight vehicles among automotive manufacturers, high investment on electric vehicles coupled with easy availability of automotive plastic via stores & e-commerce channels etc.
The market overview section of the report demonstrates market dynamics such as trends, drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, and end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of global automotive plastic market. Furthermore, various analysis methods like Porter’s, Pestle are also included in the report to provide an in-depth view of the market scenario.
Global Automotive Plastic Market: Scope of the Report
On the basis of the type of product, the market is segmented into Acrylonitrile Butadiene Styrene, Polypropylene, Polyurethane, Polyvinyl Chloride, Polyethylene, Polycarbonate, Polymethyl Methacrylate and Polyamide. Based on the application of Automotive Plastic, the market is divided into Power Trains, Electrical Components, Interior & Exterior Furnishings, Fuel System, Chassis and Engine Components. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East, and Africa & Latin America along with the qualitative analysis for market estimates that boosts the growth of the global automotive plastic market during the forecast period.
The report also highlights the competitive landscape of the global automotive plastic market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products, technology landscape, and financial highlights.
Global Automotive Plastic Market: Key Stakeholders
- Exxon Mobil Corporation
- BASF SE
- Evonik Industries AG
- LG CHEM
Global Automotive Plastic Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Automotive Plastic Market Size, Share, Development, Growth and Demand Forecast to 2025” are:
- The demand for global automotive plastic market is expected to grow at the fastest rate, during forecastperiod. Automotive Plastic is witnessing tremendous growth due to factors as availability of raw materials, shifting consumer preferences toward better lifestyle emerging the need for automotive vehicle, rise in the demand for electrical vehicles, flexibility and sturdiness of the plastics, cost efficiency of the plastics and recyclability. Global automotive plastic market is expected to grow with CAGR over 12% & 10% by value and volume respectively, during the forecast period, 2018-2025
- Polypropylene has been the largest revenue contributor to the global automotive plastic market as compared to other products. It is expected to grow with CAGR over 14% by value and with CAGR over 11% by volume during the forecast period, 2018-2025
- Global automotive plastic market from various applications is estimated to grow with a CAGR over 10% over the period of 2018-2025 with Interior & Exterior Furnishing having the highest contribution of 47.25% marker share in 2017
- Asia Pacific is the largest contributing region in the Automotive Plastic market and is expected to propel with a CAGR 14.23% by value and with a CAGR over 11% by volume during the forecast period, 2018-2025 . China is the largest market having a CAGR over 12.86% will attend a revenue of around USD 9.40 Billion by 2025
Global Automotive Plastic Market, Revenue Forecast (USD Million), 2013-2025
Global Automotive Plastic Market: Research Methodology
Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding of the global automotive plastic market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.
Global Automotive Plastic Market: Competitive Dynamics
The global automotive plastic market is dominated by a number of players in the market, amongst them the major players are SABIC, BASF SE, LG CHEM, etc. Companies in this industry are following different strategies to strengthen their market position. For instance, DSM has collaborated with Toyota to supply engineering plastic and materials this strategic initiative had helped DSM to gain a competitive advantage over other market players. Other market players which hold about 31% market share involves small and medium-sized industrial players, these companies play a major role in the industrial value chain.