Product Description:
Plastics replace steel and other materials that have traditionally been used to make auto parts. This allowed car designers to achieve a variety of electrical, electronic and lighting component designs with better design opportunities and overall vehicle weight reduction. This variety helps reduce the weight of the car, which is the most crucial feature of plastic and is one of the most important reasons to replace steel in most cars.
Market Overview
The Asia-Pacific automotive plastics market is expected to reach around US$ 25 billion by 2024, growing at a CAGR of 10.5% over the forecast period.
Recent Developments and Trends
In January 2015, the White House announced a federal research effort, an advanced innovation laboratory in the manufacturing of composite materials, which combines the research efforts of industry, government and university with fiber-reinforced plastics to accelerate the light compound development in the automotive industry.
Wilmington, Del. Material Giant nylon and other engineering resins play an essential role in unused applications in the real world, and it is estimated that 80% of the top 10 engines most tracked by car publishers use DuPont products for engine cooling, turbo ducts or cargo.
Drivetrain materials engineering, General Motors focused on the current use of plastic parts in gasoline and diesel engines and transmissions. DuPont Automotive believes that designs and engineers continue to look for thermoplastics, especially structural applications, in an effort to save volume and costs.
Market Drivers
The preference for high-performance plastics to replace conventional metals and rubber is expected to drive market growth. Unique properties, such as the versatility and flexibility of plastic materials, have driven innovation in terms of technology and design. Automotive plastics are widely used for a variety of purposes, such as automotive design and the improvement of aesthetics and carbon emissions. Plastic components in automobiles reduce the weight of the vehicle. These properties are expected to promote growth in the APAC market. The plastic in passenger car serves as an insulator for cabin air conditioning. It also offers advantages such as fuel economy, noise reduction and vehicle vibration, and facilitates the design of a single body. This is expected to feed the regional automotive plastics market over the estimated time.
Restraints
High raw material costs and non-degradable properties of automotive plastics have threatened the growth of the automotive plastics market during the forecast period.
Market Segmentation
By Application:
Based on the application, the APAC automotive plastics market is classified as under bonnet, interior and exterior applications. Of these, the under-the-hood segment is predicted to dominate the regional market in the coming years, as there is a mounting need to replace conventional automobile components with plastic products.
By Type:
Based on the type, the APAC Automotive Plastics Market is divided into polyamide, polyvinyl chloride, polypropylene, polycarbonate, HDPE, PET, polyurethane, PMMA and ABS. In 2018, polypropylene emerged as the main category of products, representing 25% of the total volume, as it offers excellent chemical and electrical resistance at very high temperatures. Nonetheless, the polyvinyl chloride (PVC) and HDPE segments are likely to grow at an outstanding share during the estimated period.
Regional Analysis
With the demand for new energy vehicles backed by changes in government policy increases, China is likely to dominate the APAC automotive plastics market during the forecast period. With the rise in the middle-class population, the number of consumers trying to buy new cars and pay for after-sales service increased, thereby usage of plastics in vehicles in this country increased. Also, with changes in government policies related to carbon emissions and the provision of subsidies for new energy vehicles, the demand for non-traditional vehicles, including sport utility vehicles (SUVs) and new vehicles is foreseen to increase demand for automotive plastics in China during the forecast period.
Key Players
The main players in the APAC Automotive Plastics Market for passenger car plastics are AkzoNobel N.V., Bayer MaterialScience AG, Lear Corporation, Grupo Antolin-Irausa S.A., BASF SE, Magna International Incorporated, Johnson Controls and Evonik Industries.
Research Methodology
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
Report Highlights
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Plastics Market, By Type
6.1.1 Polypropylene
6.1.2 Polyurethanes
6.1.3 Polyvinyl Chloride
6.1.4 High Density Polyethylene (HDPE)
6.1.5 Acrylonitrile Butadiene Styrene (ABS)
6.1.6 Polycarbonate
6.1.7 Polymethyl Methacrylate
6.1.8 Polyamide
6.1.9 Polyethylene Terephthalate
6.1.10 Market Size Estimations & Forecasts (2019-2024)
6.1.11 Y-o-Y Growth Rate Analysis
6.1.12 Market Attractiveness Index
6.2 Automotive Plastics Market, By Application
6.2.1 Interior
6.2.2 Exterior
6.2.3 Under Bonnet
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 AkzoNobel N.V.
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Bayer Material Science AG
8.3 Lear Corporation
8.4 BASF SE
8.5 Magna International Inc.
8.6 Johnson Controls
8.7 Evonik Industries
8.8 Adient plc
8.9 Grupo Antolin-Irausa S.A.
8.10 Compagnie Plastic Omnium
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
