Automotive Plastics Market Key Players, Development and Opportunities by Forecast to 2025

20 Sep 2018 – Global Automotive Plastics Market is anticipated to reach USD 68.5 billion by 2025. To make cars safer and fuel efficient, plastics are being used extensively. It renders vehicles lightweight and increases their fuel efficacy by reducing carbon emissions. The Automotive industry is a major market for plastic processors. The factors that propel the growth of the automotive plastics industry include strict government regulations regarding fuel consumption along with rising sales of automobiles, and growing use of plastics for the production of lightweight vehicles. In addition, decrease in vehicular emission, increasing prices of steel and iron, sturdiness, recyclability, and strength of modern plastics are expected to drive the market.

On the other hand, there are factors that may hamper the growth of the market including rising demand for biodegradable plastics, high process engineering cost, volatile cost of raw material, and high investment required in material research. Automotive Plastics Market is anticipated to grow at a significant CAGR of 11.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market may be explored by product type, application, and geography.

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Automotive Plastics industry by product type could span Polyamide (PA), Acrylonitrile Butadiene Styrene (ABS), Polymethyl Methacrylate (PMMA), Polypropylene (PP), Polycarbonate (PC), Polyvinyl Chloride (PVC), Polyethylene (PE), and others. The “Polypropylene” segment accounted for the largest market share of the market and led the overall market in 2016; the reason being, at high temperature it has excellent chemical and electrical resistance; it is lightweight material, and is inclusively used as a noise & vibration dampener and thermal insulator in vehicular components. In addition, it is translucent, semi-rigid; and offers fundamental hinge property.

The key applications that could be explored in the Automotive Plastics Market include Chassis, Powertrain, Under the Hood Components, Electrical Components, Exterior Furnishings, and Interior Furnishings. The “Interior furnishings” segment accounted for the largest market share of the market in terms of volume had developed as the dominant application in 2016;the reason being use of plastics in automobile furnishings like fascia systems, light display & panels, steering wheels and seat covers; followed by Exterior furnishings.

Asia-Pacific accounted for the major share of the Automotive Plastics Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing manufacturing base and rising investments in advanced technologies of vehicular production and increasing production in developing regions like Thailand, China, Indonesia, India, and Vietnam; followed by Europe.

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On the other hand, European market accounts for the significant share of Automotive Plastics industry in terms of revenue owing to use of advanced technology and high-quality plastics as they are energy effective and help in reducing the overall weight of the vehicle. In addition, automakers from European countries have to shift from diesel engines to electrified motors to meet higher emission standards.

Some of the key players that fuel the growth of the Automotive Plastics industry comprise BASF SE, AkzoNobel N.V, Covestro, Johnson Controls, Evonik Industries AG, Magna International, SABIC, Momentive Performance Materials Inc., Borealis AG, The Dow Chemical Company, Hanwha Azdel Inc., Teijin Ltd, Lear Corp., Owens Corning, Royal DSM N.V, Quadrant AG, and Grupo Antolin, among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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3D Printing Plastics Market Key Players, Business Strategies, Trends and Outlook to 2025

3D Printing is commonly known as additive manufacturing and infers a process that creates a three-dimensional object in which layers of material are formed by computers to generate an object. Objects can be of any shape and can be created using digital model data from a 3D model or any other electronic data source such as additive manufacturing file. Technically, 3D printing refers a process that deposits a binder material onto a powder bed with inkjet printer heads sheet by sheet. On the basis of application, the global 3D Printing Plastics Market is segmented into commercial, industrial and amateur.

Commercially, 3D printing uses a mixture of several types of filaments, from chocolate and cement to regenerating a tissue. 3D printing is a much new concept than additive manufacturing which serves as a much quick alternative to older engineering methods such as sculpting and forging and is also a cost-effective process. In fact, the3D printing field is much diverse and a rapidly expanding one. Nylon or polyamide is basically used in powder from for plastics printing. The process mainly follows sintering or also called as FDM process. The process ensures flexibility, durability and reliability for 3D printing.

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The material can also be used with aluminum powder to produce another 3D printing material for sintering. ABS is another method which is a common and widely used method. Overall, the commercial techniques used in 3D plastics printing are deployed on a large scale worldwide, thus it can be anticipated that the global market is set to grow at a healthy CAGR during forecast period.

The key driving factors responsible for the growth of 3D printing plastics market include adoption of 3D printing technology by end-use industries. However, lack of adoption of new and emerging technologies in developing regions is likely to impede the market growth. Moreover, dominance by large players resulting into lesser emergence of small players also limits the market growth. Other factors such as need for certification of grades and higher costs involved with production of commercial grades inhibit the market growth during the forecast period.

On the basis of type, the global 3D printing plastics market is segmented into photopolymers, PLA, ABS and polyamide/nylon. Photopolymers type contributed to the growth of 3D printing plastics market during the forecast period and is expected to continue the dominance. The growth is mainly due to rise in demand for healthcare and medical equipment and also photopolymers are extensively used in SLA technology and for prototyping of static models in several end-use industries.

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On the basis of end-use industry, the global 3D printing plastics market is segmented into healthcare & medical, aerospace & defense, commercial goods and automotive. Healthcare & medical end-use segment is anticipated to grow at a higher CAGR during the forecast period owing to enhanced technology, financial support by government and promptness in product development.

On the basis of geographic segmentation, the global 3D printing plastics market is segmented into North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. North America dominates the global market owing to presence of 3D printing plastics manufacturers. APAC regions are likely to dominate the global market owing to rapid developments in printing technology.

The growth is mainly witnessed in the regions of India, China, Malaysia, Singapore and Japan. Middle-East and African regions are anticipated to grow at a lower CAGR during the forecast period owing to less presence of printing industries and lack of support by the government. The key players in the global 3D printing plastics market include 3D Systems Corporation, EOS GmbH, Arkema SA, Stratasys and Evonik Inc.

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