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North America Automotive Plastics Market Forecast 2019-2027

KEY FINDINGS

The North American automotive plastic market is developing at a CAGR of 9.18% during the forecasting years of 2019-2027. The United States and Canada are considered for the market study. Plastics are known to help reduce the total weight of the vehicles which in turn helps in the reduction of fuel consumption and carbon dioxide emissions.

MARKET INSIGHTS
The plastic's non-degradable nature is expected to create severe hindrance to the market growth as it poses issues in terms of dispersibility and recyclability. The high cost of raw material required to manufacture automotive plastics and massive investments required are also going to pose challenges for the industry. But, factors such as strict carbon emission regulations, escalating demand for lightweight vehicles, growing demand for sunroofs in cars, improvement in recycling process, etc. are going to fuel market growth in the future, in particular to the North American region, where the growth of technological advancements and the adoption rate of high-tech technologies are exponential.

COMPETITIVE INSIGHTS
The major market players in the North American region are Renias Co., Ltd., Covestro AG, Webasto SE, Lear Corporation, BASF SE, Royal DSM, Chi Mei Corporation, Sumitomo Chemical Co. Ltd., Trinseo S.A., Idemitsu Kosan Co., Ltd., Mitsubishi Chemical Corporation, Dow Chemical Company, KRD Sicherheitstechnik GmbH, Sabic, Magna International, AkzoNobel CV, Evonik Industries, Owens Corning Corporation, Engel Austria GmbH, Johnson Controls and Teijin Ltd.
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North America Automotive Plastics Market Forecast 2019-2027
Published By :Inkwood Research
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