Automotive Plastics Market for Passenger Cars

October 14 18:06 2019
Automotive Plastics Market for Passenger Cars

Browse 103 market data Tables and 38 Figures spread through 136 Pages and in-depth TOC on “Automotive Plastics Market for Passenger Cars”
Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region

Automotive Plastics Market for passenger cars was valued at USD 24.63 billion in 2017 and is projected to reach 47.33 billion by 2023, at a CAGR of 10.9% during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=506

Browse 103 market data Tables and 38 Figures spread through 136 Pages and in-depth TOC on “Automotive Plastics Market”

Use of composites and PMMA in vehicle car production

The North American automotive industry has shown significant growth opportunities for composites in various applications. The high cost and lack of cost-effective manufacturing process for high-volume applications have been restricting the use of composite materials in the automotive industry. However, the increased focus on reducing the weight of the vehicles and subsequent performance enhancement have encouraged the companies to opt for composites and PMMA plastics.

Industry experts are expecting an increase in demand for long fiber reinforced thermoplastic (LFRT) and lightweight reinforced thermoplastic materials in automotive applications over the next five years. Companies, such as BMW (Germany), Mercedes-Benz, Lamborghini, and other high-end automakers, are planning to increase the use of carbon fiber reinforced polymer (CFRP) components in their vehicles to reduce weight. This is also expected to improve the fuel economy by up to 50% and reduce the weight of the vehicles by 20–75% in comparison to the traditional materials.

Request for Sample of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=506

High capital cost and cost of plastic materials

Capital costs involved with new material design or innovation are often averaged out in the long run or the life cycle of machine or equipment. This characteristic resists the utilization of new advanced materials in automotive designs because these materials require new manufacturing technologies and involve process re-engineering, which incurs a huge capital cost. Material cost is a major concern for high volume production of automotive plastics. Steel is still preferred in the automotive industry, as it has inherent advantages, in terms of available technological expertise, and is the cheapest material per pound in comparison to the materials considered for structural components. Moreover, conventional equipment and processes are used for manufacturing and joining/welding new advanced high-strength steels. Therefore, steel is often a preferred choice of the manufacturers seeking a significant reduction in vehicular weight. Therefore, high capital costs incurred in the deployment of automotive plastics in the existing metallic applications restrict its adoption in new vehicle designs.

Related Reports:

Automotive Interior Materials Market by Type (Synthetic Leather (PU & PVC), Genuine Leather, Polymers, Fabric), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Region – Global Forecast to 2023  

Automotive Films Marketby Film Type (Window Films, Wrap Films, Paint Protection Films), Vehicle Type (Passenger Cars, Commercial Vehicles), and Region – Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/automotive-plastics-market-passenger-cars-506.html

  Categories: