U.S. Automotive Plastic Market: Overview
The market study reveals that the U.S. automotive plastic market is expected to grow with a CAGR over 11% during 2018-2025 in terms of value. U.S. Automotive Plastic market report provides analysis for the period 2013–2025, wherein the period from 2018 to 2025 is the forecast period and 2017 is base year. Current environmental and economic concerns have made the manufacturing of more fuel-efficient cars a top consideration in the automotive industry. In July 2011, the U.S government declared a treaty with the top 13 automakers to upsurge fuel productivity to 55.5 miles per gallon for cars and light duty trucks by 2025. Passenger vehicles would be required to attain 5% annual improvements, and light commercial vehicles with 3.5% annual improvements. This agreement is anticipated to positively contribute towards U.S. automotive plastics market as usage of plastic components leads to weight reduction of car which improves fuel efficiency.
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 U.S. Automotive Plastic 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 U.S. 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.
U.S. 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 U.S. along with the qualitative analysis for market estimates that boosts the growth of the U.S. automotive plastic market during the forecast period.
The report also highlights the competitive landscape of the U.S. 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.
U.S. Automotive Plastic Market: Key Stakeholders
- Exxon Mobil Corporation
- BASF SE
- Evonik Industries AG
- RTP Company
U.S. Automotive Plastic Market: Key Findings Of The Report
According to BlueWeave Consulting, the key findings of the report “U.S. Automotive Plastic Market by Type (Acrylonitrile Butadiene Styrene, Polypropylene, Polyurethane, Polyvinyl Chloride, Polyethylene, Polycarbonate, Polymethyl methacrylate, Polyamide), by Application (Power Trains, Electrical Components, Interior & Exterior Furnishing, Fuel System, Chassis, Engine Components); Size and Forecast, 2018-2025” are:
- The demand for U.S. automotive plastic market is expected to grow at the fastest rate, during the anticipated period. 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, cost efficiency of the plastics and recyclability. S. automotive plastic market is expected to grow with CAGR over 11% & 10% by value and volume respectively, during the forecast period, 2018-2025
- Polypropylene is the largest revenue contributor to the U.S. automotive plastic market, expected to grow with CAGR over 12%, followed by Polyurethane (PU) with a CAGR over 11% in terms of value, during the forecast period, 2018-2025
- U.S. automotive plastic market is estimated to grow with a CAGR over 11% during the period of 2018-2025 with Interior & Exterior Furnishing having highest contribution
U.S. Automotive Plastic Market, Revenue Forecast (USD Million), 2013-2025
U.S. 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 on the U.S. automotive 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.
U.S Automotive Plastic Market: Competitive Dynamics
U.S. automotive plastic market is dominated by a number of players, amongst them the major players are DowDupont, SABIC, BASF SE, Exxon Mobil Corporation, etc. Companies are following different strategies to strengthen their market position by consolidating with other big companies to enhance their regional presence to stimulate the automotive plastic industry demand.