London, UK, March 22, 2019 (GLOBE NEWSWIRE) -- Market Definition:

• Plastics are used in various industries, automotive being one of the largest of them. 
• There are many innovative ways in which plastic can be used in the automotive industry to make the vehicles safer and more fuel efficient. 
• By using plastic based tools and accessories, the vehicles can be made more lightweight and durable. 
• They also reduce carbon emission, help provide incomparable safety benefits like seatbelts and airbags and, plastics also help to beautify the design of the vehicle.

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Market Overview and Trends

• Since past few years, original equipment manufacturers have shifted to plastics to cut vehicle weight which also helps in reducing cost and improving safety, performance, and fuel efficiency. 
• Car makers are mainly working to meet sustainability goals and use recovered materials. This has enabled them to develop car parts using recycled plastics. 
• Increasing numbers of automobile manufacturers are using recycled plastics to make things like seat belts, airbags, seat cushions and radiator shrouds. 
• According to the National Highway Traffic Safety Administration (NHTSA), the seat belts made from durable strands of polyester fiber helped save nearly 15,000 lives in 2016. 
• NHTSA also states that airbags made from high-strength nylon fabric, can reduce the risk of dying by 30%, in a car crash. 
• Lightweight plastic based design techniques benefit performance of the vehicle and energy savings. Based on this, in modern innovative automobiles plastic makes up to 50% of the vehicle volume but bear only 10% of its weight. 
• These properties enhance the adoption of plastic in automotive industry and increasing applications of plastic open new avenues in the automotive plastics industry.

Market Dynamics:

Factors Influencing the Market Growth:

• Rapidly growing automotive industry, increasing advancements and growing application of plastic in automobiles are the primary factors contributing to the growth of this market. 
• Increasing investment in research and development activities, stringent government regulation with respect to vehicle composition, increasing demand for advanced safety features and luxury components, and increasing focus towards appearance of the vehicle are also contributing to the growth of automotive plastics market.

Factors Restraining the Market Growth:

• Environmental concerns regarding non-degradable nature of automotive plastics 
• High cost of raw material

To find out more about this report please contact Sara Peerun at sara.peerun@visiongain.com or refer to our website: https://www.visiongain.com/report/global-automotive-plastics-market-2019-2029/

Market Segmentation 2019-2029:

Type

• Polypropylene Market, 2019-2029 
• Polyurethanes Market, 2019-2029 
• Acrylonitrile Butadiene Styrene Market, 2019-2029 
• High Density Polyethylene Market, 2019-2029 
• Polyvinyl Chloride Market, 2019-2029 
• Polycarbonates Market, 2019-2029 
• Polymethyl Methacrylate Market, 2019-2029 
• Polyamide Market, 2019-2029 
• Polyethylene Terephthalate Market, 2019-2029

Application

• Interior Market, 2019-2029 
• Exterior Market, 2019-2029 
• Under Bonnet Market, 2019-2029

Geographic breakdown

Focused regional forecasts and analysis explore the future opportunities:

• North America Market, 2019-2029 
• Europe Market, 2019-2029 
• Asia-Pacific Market, 2019-2029 
• LAMEA Market, 2019-2029

Competitive Analysis:

• Large number of companies operate in the automotive plastics market. Key players mainly adopt product develop and launches, partnerships and collaborations, and expansion as their primary growth strategies. 
• In January 2019 Polyplastics launched two high-performance plastics for automotive applications. 
• To increase collaborative activities, the companies also organize and participate in various seminars and conferences that help them enhance their customer base and engage in strategic alliances.

Major Market Players:

AkzoNobel, BASF, Momentive, Quadrant AG, Lear Corp., Bayer Material Science, Borealis, Johnson Controls, Teijin Ltd., and The Dow Chemical Co.

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Companies covered in the report include:

AkzoNobel 
BASF 
Bayer Material Science 
Benecke-Kaliko AG 
Borealis 
Compagnie Plastic Omnium 
Covestro AG 
DowDuPont. 
DSM Engineering Plastics B.V. 
Evonik Industries 
Faurecia Sa 
Grupo Antolin-Irausa S.A. 
Johnson Controls 
Lear Corp. 
Lyondell Basell Industries Holdings B.V. 
Magna International Inc. 
Momentive 
Quadrant AG 
SABIC. 
Sage Automotive Interiors, Inc. 
Solvay Sa 
Teijin Ltd. 
The Dow Chemical Co. 
Toyota Boshoku Corporation 
Zoltek Companies, Inc.

To discuss this report please e-mail Sara Peerun on sara.peerun@visiongain.com