Global Automotive Plastics Market for Passenger Cars: Overview
Automotive plastics are used in passenger cars for manufacturing automotive components such as upholstery, bumpers, internal & external trims, dashboards, and seating. R&D on the composite materials, polymers, and reinforced plastics come up with the advanced material qualities, which make them suitable for under bonnet components, interior, and exterior of automobiles. These materials are selected very carefully to facilitate designers achieve a reduction in vehicle weight, meet load-bearing requirements, and improve durability. Automotive plastics are extensively preferred for passenger cars owing to the properties such as easy moldability, reduced weight, impact strength, and improved aesthetics as compared to other conventional automotive components.
Global Automotive Plastics Market for Passenger Cars: Growth Factors
Demand for automotive plastics for passenger cars is growing across the world and automobile manufacturers are largely focus on the lightweight cars; all these factors are expected to propel the global automotive plastics market for passenger cars growth. Automotive plastics are heavily used in automotive designs and for various purposes such as improve aesthetics and carbon emissions. It also offers advantages such as fuel economy, reduced vehicle noise and vibration, and facilitating uni-body design; this is anticipated to fuel the global automotive plastics market for passenger cars growth. Automotive plastics passenger cars act as an insulator for cabin air conditioner. Automotive plastics passenger cars reduce the weight of the vehicle; these properties are anticipated to propel the growth of the global market. However, process-reengineering causes high capital and infrastructure cost, further restraining the global market to some extent.
Global Automotive Plastics Market for Passenger Cars: Segmentation
The global automotive plastics market for passenger cars is classified based on the application as under bonnet, interior, and exterior. On the basis of product type, the global market is categorized as polyamide, polyvinyl chloride, polypropylene, polycarbonates, HDPE, PET, polyurethanes, PMMA, and ABS.
Global Automotive Plastics Market for Passenger Cars: Regional Analysis
The geographical representation of the global automotive plastics market for passenger cars is given by North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is considered as the major market for automotive plastics passenger cars owing to higher demand for these cars in this region. It is further expected to hold this position in the next few years. In addition, Asia Pacific is the largest producer and consumer of polypropylene globally. Europe is another region growing at a faster rate owing to enhancing socio-economic conditions. Other developing countries such as Indonesia, Thailand, China, and India are anticipated to continue their influence in the near future, positively impacting global automotive plastics market for passenger cars.
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Global Automotive Plastics Market for Passenger Cars: Competitive Players
Major players in the global automotive plastics market for passenger cars are Lear Corporation, AkzoNobel N.V., Grupo Antolin-Irausa S.A., Magna International Incorporated, BASF SE, Johnson Controls, Bayer MaterialScience AG, Evonik Industries, and Borealis AG. Other players include Teijin limited, The Dow Chemical Company, Momentive Performance Materials Inc., SABIC, and Royal DSM N.V.