Transcript automotive plastics market

Automotive Plastics Market size worth $53.8 billion
by 2022
The key players include BASF, Dow
Chemical, Evonik Industries, Johnson
Control, Delphi Automotive and AkzoNobel
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Global Market Scenario of Automotive plastics Industry
 Global Market Insights, Inc. has announced the addition of a new study based report
on the automotive plastics market to their offering. The market size is predicted to
surpass 18 million tons in terms of volume by 2022. In terms of revenue, the market is
predicted to reach 52 billion from 2015 to 2022, at an anticipated CAGR of over 13.5%.
The report focuses on quality analysis in terms of volume and revenue with a
comprehensive overview of the market, including definitions and classification of the
market, market trends, competitive landscape, coupled with key participants of the market,
regional scenario, and aspects such as drivers, impediments, opportunities and challenges
of the market.
Versatile, lightweight plastic material offers superior designs and excellent resistance to
weather conditions. This has increased the demand of this compound, as the most accepted
form of design material in the automotive industry.
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Strict government regulations about vehicle emission control have resulted in
implementation of lightweight plastics as substitutes for steel or aluminum metals. The
increasing trend of lightweight vehicles to enhance fuel efficiency and increasing prices of
metals is likely to further the growth.
Factors like increasing investments in material research of plastic substitutes and higher
material cost, non biodegradability of synthetic polymers, environmental concerns with
regards to carbon emissions, etc. are predicted to hinder the market growth.
The report covers the analysis of the automotive plastics industry segmented into
electrical components, power trains, under the hood and chassis, and interior & exterior on
the basis of its application. Airbags, now being a mandatory safety measure in passenger
cars, is likely to drive demand.
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 Regional analysis of the market report covers market insights on a regional scale. Asia Pacific is
likely to retain its dominance as the largest automotive plastics market region for passenger
cars. In terms of consumption, the Middle East & Africa region is anticipated to register as the
top growing region. Growing automobile aftermarket sales are likely to impel the MEA market
in next few years.
 Major participants of the market are profiled in the report with the comprehensive
analysis of the business strategies, current trends and competitive landscape. The key
players include BASF, Dow Chemical, Evonik Industries, Johnson Control, Delphi
Automotive and AkzoNobel N.V. Borealis AG, Hanwha Azdel, GrupoAntolin-Irausa S.A,
Magna International, Lear Corp, SABIC, Momentive Performance Materials, DSM and
Owens Corning are some other major companies covered in the report.
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