China Automotive Plastic Market is expected to grow with a CAGR over 12% during the forecast period 2018-2025, owing to price-sensitive demand, improved vehicle design capabilities and the increasing importance of weight reduction and emission control. The automotive industry constitutes a dynamically growing sales market for plastics. The replacement of metal, rubber, and glass by plastics reduces weight keeping the performance intact or even improved. Plastics are majorly used into automotive components and parts owing to their ease of manufacturing, possible sourcing from renewable raw materials and relative ease of improved design. The properties of plastics such as scratch resistance, recyclability, high volume to weight resistance, impact strength, thermal stability, and resistance to abrasion make them suitable for use in automobiles and as it has many benefits over traditional steel-based components, the plastics in the automotive sector are being accepted at large scale in China.
The market overview section of the report demonstrates market dynamics such as trends, drivers, restraints, key market indicators and opportunities that talks about the current and future scenario of the China Automotive Plastic market. Further, key market indicators included in the report, provide the significant factors which are capable to define the market position of China 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.
China 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 along with the qualitative analysis for market estimates that boosts the growth of the China automotive plastic market during the forecast period.
The report also highlights the competitive landscape of the China 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.
China Automotive Plastic Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “China Automotive Plastic Market Size, Share, Development, Growth and Demand Forecast to 2025” are:
China automotive plastic market is expected to grow with CAGR over 12% & 11% by value and volume respectively, during the forecast period, 2018-2025 due to pressing environmental requirements and fierce outside competition are forcing China’s automotive industry to accelerate its innovation and transformation, rise in the demand for electric vehicles, recyclability, and flexibility and sturdiness of plastic.
Polypropylene (PP) has been the largest revenue contributor to the China automotive plastic market as compared to other products. It is expected to grow with CAGR over 15% by revenue during the forecast period, 2018-2025.
Interior & Exterior Furnishing having the highest contribution in the China automotive plastic market from various applications is estimated to grow with a CAGR over 13% over the period of 2018-2025.
CHINA AUTOMOTIVE PLASTIC MARKET APPLICATION BY REVENUE (2013-2025) (USD MILLION)
China 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 China 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.
China Automotive Plastic Market: Competitive Dynamics
The China automotive plastic market is dominated by a number of players in the market, amongst them the major players are Shanghai PRET Composites Company Ltd, BASF, Evonik Industries AG, The Dow Chemical Company, Teijin Limited, Lanxess Chemical, Solvay China, and LyondellBasell China.