MUMBAI, October 28, 2013 /PRNewswire/ --
Bharat Book Bureau presents India Automotive Plastics Market Forecast & Opportunities, 2017 - Automotive plastics industry is one of those sectors whose growth is exclusively dependent on automotive sector and this sector has attracted all the global auto makers, which has resulted into intense competition. The automotive manufacturers are inclining towards minimizing manufacturing cost, where they are opting for plastics over steel due to its cost-effectiveness. (http://www.bharatbook.com/automobiles-market-research-reports/india-automotive-plastics-market-forecast-opportunities-2017.html)
Moreover, India is one of the major producers of automotive plastics, hence during last half a decade, demand for automotive plastics have reported an exponential growth. The properties of plastics such as easy mould ability, recyclability, scratch resistance, high volume to weight resistance, thermal stability, impact strength, and resistance to abrasion makes them suitable for use in automobiles and as it has many benefits over traditional steal based components, the plastics in automotive sector are being accepted at large scale in India.
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According to "India Automotive Plastics Market Forecast & Opportunities, 2017", the Indian automotive plastics market revenues have grown at the CAGR of around 25% during 2009-12, which is higher when compared with global growth rate. The consumption of polypropylene (PP) and polyurethane (PUR) are forecasted to get doubled in terms of revenues in automotive plastics sector in India during the next five years. Western region of India is the highest revenue generator to the Indian automotive plastics market due to existence of automobile manufacturing hub in states, particularly Maharashtra and Gujarat. The leading automotive plastics manufacturers in India are BASF, Bayer Crop Sciences, SRF and Dow Chemicals. Rising focus of automobile companies towards reduction of vehicle's mass and emission of carbon are driving the Indian automotive plastics market. "India Automotive Plastics Market Forecast & Opportunities, 2017" discusses the following aspects related to automotive plastics market expansion in India:
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Report Methodology
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with automotive plastic manufacturers in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.
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