Automotive Plastics Market size was valued at US$ 21.1 Bn. in 2021 and the total Automotive Plastics revenue is expected to grow at 7.9 % through 2022 to 2029, reaching nearly US$ 38.76 Bn.
Automotive Plastics Market Overview:
The Automotive Plastics market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Automotive Plastics Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Segmentation:
Rising economic and environmental concerns are paving the way for the use of plastics instead of metals in the production of automotive components to manufacture more fuel-efficient vehicles. The use of polymers over traditional materials can lower vehicle weight by 10% to 18%. Such significant weight reductions encourage the use of automotive plastics and fuel investments in the development of advanced polymers that are more durable and better suited for certain components. The usage of automobile plastics has grown significantly throughout the years.
Key Players:
• AkzoNobel N.V
• BASF SE
• Covestro
• Evonik Industries AG
• Johnson Controls
• Magna International
• Momentive Performance Materials Inc.
• SABIC
• The Dow Chemical Company
• Borealis AG
• Hanwha Azdel Inc.
• Grupo Antolin
• Lear Corp.
• Owens Corning
• Quadrant AG
• Royal DSM N.V
• Teijin Ltd
• Compagnie Plastic
• Zoltek Companies Inc.
• DSM Engineering Plastics B.V.
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeAutomotive Plasticsg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeAutomotive Plasticsg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Automotive Plastics market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacAutomotive Plasticsg current and future market trends are also covered in the Automotive Plastics market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooAutomotive Plasticsg. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Automotive Plastics Market:
End-user industries where Automotive Plastics are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Automotive Plastics manufacturers, harming the Automotive Plastics market’s growth in 2020. End-user business demand for Automotive Plastics has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Automotive Plastics Market Report are:
- In 2021, which segment accounted for the most share of the Automotive Plastics market?
- What is the competitive landscape of the Automotive Plastics market?
- What are the key factors influencing Automotive Plastics market growth?
- In the Automotive Plastics market, which region has the most market share?
- What will be the CAGR of the Automotive Plastics market during the forecast period (2022-2027)?
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