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The global automotive plastics market is categorized into products, applications, and regions. Products
include polyethylene, acrylonitrile butadiene styrene (ABS), polyurethane, polypropylene, polyvinyl chloride
(PVC), polycarbonate, polyamide, and polymethyl methacrylate (PMMA). Polypropylene led the market in
2014 with a revenue exceeding USD 5 billion. Engineering metals & plastics are increasingly being replaced by
PP-based materials in the production of automobile parts. This leads not only to vehicul ar weight reductions
but also to significant costs savings. Polypropylene and polyethylene foams are commonly used for vibration
and noise dampening & thermal solidity.
PMMA holds a smaller market share. However, this segment may witness substantial growt h in the forecast
period. This owes to the widespread application of PMMA in automobile light covers, windows, trims, and
glazing. It is also used as a replacement for glass.
Based on applications, the automotive plastics market is divided into electrical components, power train,
under the hood, interior & exterior furnishings, and chassis. In 2014, electrical components held the largest
share and surpassed USD 6 billion. Interior & exterior applications held a share of over 32% in 2014 and can
grow at a CAGR of over 9% during the forecast period. Bumper systems, fascia systems, body & light panels,
and steering wheels are the key components that use automotive plastics. ‘Power trains’ is anticipated to be
the fastest growing segment and may register a CAGR of over 10% during the next eight years.
Based on regions, the global automotive plastics market is segmented into Asia Pacific, Europe, North
America, and Rest of the World. The Asia-Pacific automotive plastics market dominated the industry in 2014.
In terms of revenue, the region reported USD 9.5 billion during the same year. The shift of automotive
manufacturing units to countries, such as India, China, Thailand, and Indonesia propels the Asia Pacific
market. Demand is attributed to supportive government initiatives and the availability of cheap labor. Central
& South America could grow at a decent CAGR of over 10.5% from 2016 to 2024. Major companies operating
in the industry are Johnson Controls, The Dow Chemical Company, Akzo Nobel N. V., Delphi Auto motive PLC,
and Evonik Industries A. G.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/plastics-polymers-
and-resins-industry
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