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Further key findings from the study suggest:
Global automotive plastics demand was 7,962.1 kilo tons in 2013 and is expected to reach 14,851.0 kilo tons by 2020, growing at a CAGR of 9.4% from 2014 to 2020.
Electrical components were the most dominant application for automotive plastics as the segment accounted for 37% of total market volume in 2013. Electrical components were followed by interior and exterior furnishings at 32.8% of total market volume in the same year.
Power trains are expected to be the fastest growing application market for automotive plastics at an estimated CAGR of 10.4% from 2014 to 2020.Asia Pacific continued its dominance in the global automotive plastics industry and accounted for 53.2% of total market volume in 2013 and is expected to continue leading the market over the forecast period.
Asia Pacific along with the largest market is also expected to be one of the fastest growing markets for automotive plastics, at an estimated CAGR of 10.0% from 2014 to 2020. Growth of automotive industry particularly in emerging markets of China and India is expected to fuel the regional demand for automotive plastics.
The global market for automotive plastics is fairly concentrated with top four companies including BASF, Johnson Control Inc., Evonik Industries and AkzoNobel accounting for just over 55% of total market in 2013.
Other key companies operating in the global market include Delphi Automotive PLC, Solvay Plastics, DIC Corporation and Magna International Inc.
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For the purpose of this study, Grand View Research has segmented the automotive plastics market on the basis of product, application and region:
Global Automotive plastics Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Polypropylene
Polyurethane
HDPE
LDPE
ABS
Polycarbonate
Composites
Global Automotive plastics Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Power Trains
Electrical Components
Interior and Exterior Furnishings
Under the Hood
Chassis
Others
Global Automotive plastics Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012
- 2020)
North America
Europe
Asia Pacific
RoW
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