This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Automotive Plastics Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.
Impact of COVID-19 on Automotive Plastics Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players involve in this research are:
- Magna International Inc.
- Lear Corporation
- Adient PLC
- BASF SE
- Compagnie Plastic Omnium
Growth drivers and Market Value:
This report, from Stratview Research, studies the Automotive Plastics Market value and growth drivers over the trend period of 2021-26. According to the report -
Automotive plastics market for passenger cars is likely to witness a healthy CAGR of 10.5% during the forecast period. The growing demand for automotive plastics is majorly because of their lightweight property that significantly helps in weight reduction of vehicles and enables to achieve better fuel efficiency. This is a major key driver underpinning the growth of the market during the forecast period.
Segment Analysis:
Product Trends
Based on the product type, the market is segmented as polypropylene, polyurethane, polyvinyl chloride, ABS, polyamide, HDPE, polycarbonate, PBT, and others. The polypropylene segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period, owing to its excellent mechanical properties such as design flexibility, lightweight, and its low cost. On the other hand, the polyamide segment is expected to grow at the fastest rate in the next five years.
Regional Trends
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing automotive plastics market for passenger cars during the forecast period, with China, Thailand, and India being the major countries as the growth engines. The market is driven by the increasing per-capita income of individuals in the region, leading to rise in demand for passenger cars, which in turn, is driving the automotive plastics market for passenger cars in the Asia-Pacific region.
Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.
Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.
Key Considerations for Market Forecast:
- Impact of lockdown, supply chain disruptions.
- Pre and post-COVID-19 market estimates
- Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Impact of COVID-19 on the Global Market
The Automotive Plastics report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.
Sneak peek into the Report:
The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
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Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
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About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
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