Asia Pacific Automotive Plastics Market Demand by 2024
Posted: Mar 08, 2019
Graphical Research: Asia Pacific Automotive Plastics Market analysis based on Application, Product, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024, Estimated to reach USD 2.5 billion by 2024.
Shifting trends towards more fuel-efficient vehicles and increase in usage of plastic & polymer composites in lightweight vehicles may boost automotive plastics market demand in the region. Growing environmental concerns due to GHG emission has stimulated automotive manufacturers to focus on fuel efficient and lightweight vehicles manufacturing. Lightweight vehicles may control emission systems, integrate electronic systems without increasing the overall weight of the vehicle which indicates tremendous growth potential for regional market growth.
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India polycarbonates based automotive plastics market was valued at over USD 20 million in 2017. These products are commonly used in security screens, aircraft panels, bumpers, spectacle lens and headlamp lenses on account of their excellent weather and UV resistance which may stimulate market growth.
Japan PVC based automotive plastics market demand may witness gains at over 9.5% in the predicted timeframe. These products find usage in various applications such as door panels seating, dashboard, arm rest and exterior parts. Moreover, these products act as sealant and protect underbody parts from humidity which is likely to boost industry growth.
Indonesia automotive plastics market size from power train applications may show significant gains exceeding 12% in the forecast period. These products help to reduce the number of parts needed to assemble complex components and are increasingly used to manufacture seal rings, transmission oil pans, air intake manifolds, air ducts, & suction pipes.
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The requirement of non-renewable raw materials such as natural gas and petroleum along with energy-intensive production techniques & the lack of product standardization may hamper Asia Pacific automotive plastics market growth.
Adient, BASF, Bayer, Borealis and Celanese are some prominent manufacturers in the competitive market of Asia Pacific automotive plastics. Companies are focusing on acquisitions to expand their product portfolio & market share market share along with indulging in production capacity expansions in order to meet rising product demand.
Segments We Cover:
APAC Automotive Plastics Market Forecast, By Product
Asia Pacific Automotive Plastics Market Demand, By Application
Interior and Exterior Furnishings
Under the hood
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Automotive Plastics Market Size By Application (Electrical Components, Power Train, Under the Hood, Chassis, Interior & Exterior Furnishings), By Product (Polyurethane, PVC, Polyethylene, Polypropylene, ABS, Polycarbonate, Polyamide, PMMA), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services.