BRIC Automotive Plastics Market: Polypropylene (PP) Leads in Consumption with 31% Market Share, according to Future Market Insights

(Markitwired via Comtex)

FutureMarket Insights, a U.K. based global market research firm, announces therelease of its latest report titled, “Automotive Plastics Market: BRICIndustry Analysis and Opportunity Assessment 2015 – 2020“. Accordingto the report, the BRIC automotive plastics market was valued at US$ 11,244.4million in 2014, and is projected to register a compound annual growth rate(CAGR) of 15.4% during forecast period 2015 – 2020.

Automotiveplastics are used to manufacture various components such as lighting systems,seating systems, automotive carpets and upholstery, bumpers, etc. The versatileproperties of plastics such as easy moldability, durability, scratchresistance, thermal stability, impact strength and resistance to abrasionsgives this material an edge over others, making it ideal for manufacturingautomobile components. Apart from this, reduction in manufacturing cost, durabilityand increased strength of plastics has encouraged manufacturers to use thismaterial for three major applications in automobiles such as exterior, interiorand under-bonnet components. Manufacturers use plastics for various componentsunder these three applications including as a substitute for steel in vehicledoors, bumpers, fenders and other automotive components.

Browse Market Research Report on BRIC Automotive PlasticsMarket: http://www.futuremarketinsights.com/reports/details/bric-automotive-plastics-market

Interiorapplication segment accounted for higher revenue as compared to exterior andunder-bonnet component segments in the BRIC automotive plastics market in 2014.Among all plastic material types, polypropylene (PP) leads in terms ofconsumption with 31%, followed by polyurethanes (PU), acrylonitrile butadienestyrene (ABS) and polycarbonates (PC). This is attributed to the variousproperties exhibited such as easy forming and lightweight as compared tometals. The PP segment is projected to dominate the BRIC automotive plasticsmarket throughout the forecast period due to increasing penetration of premiumcars in the region, whilst ABS is expected to register highest CAGR among allother plastic materials due to increasing usage in vehicle interiors. Thepassenger vehicle segment is expected to register a CAGR of 17%, making it thefastest growing segment when compared to the commercial vehicle segment. Growthof the aftermarket segment in the BRIC automotive plastics market is fuelled byreplacement of old or damaged parts and increasing number of vehicle inoperation due to increasing cab/rental car services across the globe.

Get more insights on chemicals and materials market: http://www.futuremarketinsights.com/reports/category/chemicals-materials

Growthof BRIC automotive plastics market is driven by various factors such as growingdemand for passenger vehicles, rising export of automotive plastics componentsand stringent government regulations to control vehicular emissions. In Indiaby the end of 2016, the “Bharat Stage-IV” vehicle emissionregulations and fuel quality standards is expected to be implemented in 50major cities. These norms will prompt Original Equipment Manufacturers toproduce more plastic components for application in vehicles. Though the marketis promising in terms of return on investment (ROI), patents and regulatoryhurdles along with global shift towards bio-based plastic materials could posea challenge to the BRIC automotive plastics market.

TheBRIC automotive plastics market is fragmented in nature, with numerous domesticand global players in the market. This makes it a considerably high growthpotential market. Recently, the Indian government announced the“Automotive Mission Plan (AMP) II, 2016-26” under Make in Indiacampaign, which is expected to be finalized by the end of 2015. This planfocuses on development of auto parks, establishment of advanced automotive traininginstitutes and auto design centres. These factors are expected to fuel growthof the BRIC automotive plastics market over the forecast period.

For more insights on BRIC Automotive Plastics Market, you canrequest a sample report at http://www.futuremarketinsights.com/reports/sample/rep-br-81

Thereport offers insights and analyses key strategies of companies and providesthe financial outlook of the automotive plastic market. The reports covers keyplayers such as Reliance Industries Limited, Bayer Material Science, BASF, DowChemical International Private Limited and also automotive plastic componentmanufacturers such as Lear Corporation, Faurecia Pvt. Ltd.

FMI Latest Insights:

About FMI

Future Market Insights (FMI) is a leading provider ofmarket intelligence and consulting services, serving clients in over 150countries. FMI is headquartered in Dubai, the global financial capital, and has deliverycenters in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigatechallenges and make critical decisions with confidence and clarity amidstbreakneck competition. Our customized and syndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-ledanalysts at FMI continuously tracks emerging trends and events in a broad rangeof industries to ensure that our clients prepare for the evolving needs oftheir consumers.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU),Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

FutureMarket Insights, a U.K. based global market research firm, announces therelease of its latest report titled, “Automotive Plastics Market: BRICIndustry Analysis and Opportunity Assessment 2015 – 2020“. Accordingto the report, the BRIC automotive plastics market was valued at US$ 11,244.4million in 2014, and is projected to register a compound annual growth rate(CAGR) of 15.4% during forecast period 2015 – 2020.

Automotiveplastics are used to manufacture various components such as lighting systems,seating systems, automotive carpets and upholstery, bumpers, etc. The versatileproperties of plastics such as easy moldability, durability, scratchresistance, thermal stability, impact strength and resistance to abrasionsgives this material an edge over others, making it ideal for manufacturingautomobile components. Apart from this, reduction in manufacturing cost, durabilityand increased strength of plastics has encouraged manufacturers to use thismaterial for three major applications in automobiles such as exterior, interiorand under-bonnet components. Manufacturers use plastics for various componentsunder these three applications including as a substitute for steel in vehicledoors, bumpers, fenders and other automotive components.

Browse Market Research Report on BRIC Automotive PlasticsMarket: http://www.futuremarketinsights.com/reports/details/bric-automotive-plastics-market

Interiorapplication segment accounted for higher revenue as compared to exterior andunder-bonnet component segments in the BRIC automotive plastics market in 2014.Among all plastic material types, polypropylene (PP) leads in terms ofconsumption with 31%, followed by polyurethanes (PU), acrylonitrile butadienestyrene (ABS) and polycarbonates (PC). This is attributed to the variousproperties exhibited such as easy forming and lightweight as compared tometals. The PP segment is projected to dominate the BRIC automotive plasticsmarket throughout the forecast period due to increasing penetration of premiumcars in the region, whilst ABS is expected to register highest CAGR among allother plastic materials due to increasing usage in vehicle interiors. Thepassenger vehicle segment is expected to register a CAGR of 17%, making it thefastest growing segment when compared to the commercial vehicle segment. Growthof the aftermarket segment in the BRIC automotive plastics market is fuelled byreplacement of old or damaged parts and increasing number of vehicle inoperation due to increasing cab/rental car services across the globe.

Get more insights on chemicals and materials market: http://www.futuremarketinsights.com/reports/category/chemicals-materials

Growthof BRIC automotive plastics market is driven by various factors such as growingdemand for passenger vehicles, rising export of automotive plastics componentsand stringent government regulations to control vehicular emissions. In Indiaby the end of 2016, the “Bharat Stage-IV” vehicle emissionregulations and fuel quality standards is expected to be implemented in 50major cities. These norms will prompt Original Equipment Manufacturers toproduce more plastic components for application in vehicles. Though the marketis promising in terms of return on investment (ROI), patents and regulatoryhurdles along with global shift towards bio-based plastic materials could posea challenge to the BRIC automotive plastics market.

TheBRIC automotive plastics market is fragmented in nature, with numerous domesticand global players in the market. This makes it a considerably high growthpotential market. Recently, the Indian government announced the“Automotive Mission Plan (AMP) II, 2016-26” under Make in Indiacampaign, which is expected to be finalized by the end of 2015. This planfocuses on development of auto parks, establishment of advanced automotive traininginstitutes and auto design centres. These factors are expected to fuel growthof the BRIC automotive plastics market over the forecast period.

For more insights on BRIC Automotive Plastics Market, you canrequest a sample report at http://www.futuremarketinsights.com/reports/sample/rep-br-81

Thereport offers insights and analyses key strategies of companies and providesthe financial outlook of the automotive plastic market. The reports covers keyplayers such as Reliance Industries Limited, Bayer Material Science, BASF, DowChemical International Private Limited and also automotive plastic componentmanufacturers such as Lear Corporation, Faurecia Pvt. Ltd.

FMI Latest Insights:

About FMI

Future Market Insights (FMI) is a leading provider ofmarket intelligence and consulting services, serving clients in over 150countries. FMI is headquartered in Dubai, the global financial capital, and has deliverycenters in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigatechallenges and make critical decisions with confidence and clarity amidstbreakneck competition. Our customized and syndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-ledanalysts at FMI continuously tracks emerging trends and events in a broad rangeof industries to ensure that our clients prepare for the evolving needs oftheir consumers.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU),Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: [email protected]

For Media Enquiries: [email protected]

Report: https://www.futuremarketinsights.com/reports/bric-automotive-plastics-market

MARKET ACCESS DMCC Initiative

For Sales Enquiries: [email protected]

For Media Enquiries: [email protected]

Report: https://www.futuremarketinsights.com/reports/bric-automotive-plastics-market

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