CHICAGO, August 4, 2015 /PRNewswire/ --
The report "Automotive Plastics Market for Passenger Cars by Type (PP, PU, PVC, Polycarbonates, PMMA & PET), by Application (Interior, Exterior, Under Bonnet), & by Region (Asia-Pacific, Europe, North America, RoW) - Global Forecast to 2020" published by MarketsandMarkets, The Automotive Plastics Market size in terms of value is projected to reach USD 40.1 Billion by 2020, at a CAGR of 10.9% between 2015 and 2020.
Browse 109 market Tables and 76 Figures spread through 210 Pages on "Automotive Plastics Market for Passenger Cars".
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The market report defines and segments the automotive plastics market for passenger cars and forecasts the market size by value and volume.
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The automotive plastics market for passenger cars is mainly being driven by their potential for maximum mass reduction of automobile and carbon emission reduction potential by decreasing the weight of the vehicle. The key factors restraining this market include high material cost and requirement of huge investment in material research activities. The utilization of new advanced materials in automotive designs requires new manufacturing technologies and also their utilization in manufacturing those new components involves process re-engineering which incurs huge capital cost. The opportunities for automotive plastics market for passenger cars development of new materials such, as reinforced composites and PMMA.
Polypropylene is the key product type of automotive plastics followed by polyurethanes and polyvinyl chloride. Polypropylene is the largest segment and accounts for more than 30% share of the automotive plastics market. The Asia-Pacific region dominated the demand for polypropylene type of automotive plastics, followed by Europe and North America. The polycarbonates segment is projected to witness the highest CAGR of 12.4% between 2015 and 2020.
Interior is the key application of automotive plastics for passenger cars followed by exterior and under bonnet. Interior is the largest application in the automotive plastics market and accounts for more than one third share of the said market. The Asia-Pacific region dominated the market for interior application of automotive plastics, followed by Europe and North America. The exterior application is projected to witness the highest CAGR of 12.4% between 2015 and 2020.
The leading players in the market include the AkzoNobel N.V. (The Netherlands), BASF SE (Germany), Bayer Material Science AG (Germany), Borealis AG (Austria), Evonik Industries (Germany), Grupo Antolin-Irausa S.A. (Spain), Johnson Controls (U.S.), Lear Corporation (U.S.), Magna International Incorporated (Canada), Momentive Performance Materials Inc. (U.S.), Royal DSM N.V. (Netherland), SABIC (Saudi Arabia), Teijin limited (Japan) and The Dow Chemical Company (U.S.).
The report covers the automotive plastics market for passenger cars and its trends in four regions, Asia-Pacific, Europe, North America, and RoW. The market has also been analyzed on the basis of applications, such as interior, exterior, and under bonnet. The market has also been segmented and analyzed on the basis of product types which include polypropylene, polyurethanes, polyvinyl chloride, ABS, HDPE, polycarbonates, PMMA, polyamide, and PET.
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