Global Automotive Plastics Market size is prognosticated to reach USD 59.95 billion by 2026, with a CAGR of 5.6 % within the forecast period, 2019 to 2026. The market value was USD 38.80 Billion in 2018.
The report on the automotive polymers market is based on qualitative and quantitative analysis of the market. It mainly emphasizes on market dynamics such as growth drivers, restraints, key industry developments, interesting insights, and other Automotive Plastics Market trends.
List of best companies mentioned in Automotive Plastics Industry research report includes;
- Arkema SA
- BASF SE
- Borealis AG
- DSM Engineering
- Evonik Industries AG
- ExxonMobil Corporation
- LG Chem
- Covestro AG
- Arkal Automotive
- Other Players
Besides this, the report provides additional information such as regulatory approvals, segmentation of the market and the names of leading segments. List of significant players and the key strategies adopted by them is also provided in the report that will not only help players compete for the top position in the market competition but also attract high Automotive Plastics Market revenue in the forthcoming years.
Gain More Insights into the Automotive Plastics Market Research Report: https://www.fortunebusinessinsights.com/automotive-plastics-market-102023
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Increasing Popularity of Polymer Paints to Driver Market
The increasing demand for lightweight vehicles is a major factor promoting the Automotive Plastics Market growth. Lightweight vehicles will comprise of parts made out of plastic instead of metal or steel. Strict rules are imposed by governments of various nations to control greenhouse gas emissions, and this is anticipated to help increase the automotive polymers market size in the years to come. Besides this, the rise in the popularity of electric vehicles is expected to help increase the automotive polymers market size in the forecast period.
The strong, flexible, and rigid nature of components made out of plastic is apt for use in automobiles. Thus, the rise in the use of polymers for manufacturing automotive parts is influencing the Automotive Plastics Market positively. This, coupled with the increasing demand for recyclable plastics from the packaging industry will help increase the overall Automotive Plastics Market size in the forecast duration. Furthermore, the rising popularity of automobile paints and dyes made out of plastic that guarantees resistance to abrasion is likely to attract high automotive polymers market revenue in the forecast duration.