The" Automotive Under the Hood Plastic Market Report: Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
The global automotive under the hood plastic market is expected to reach an estimated $3.6 billion by 2023 and it is forecast to grow at a CAGR of 2.7% from 2018 to 2023.
The future of the global automotive under the hood plastic market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle segments. The major drivers of growth for this market are increasing demand for lightweight materials for OEM's to reduce vehicle weight, increasing vehicle production, and stringent government regulations on fuel economy and emissions.
Emerging trends, which have a direct impact on the dynamics of the automotive under the hood plastic industry, include development of carbon fiber imposed plastics, and development of cellulose enabled hybrid composites.
Some of the automotive under the hood plastic companies profiled in this report include BASF SE, Lyondellbassell, EI Du Pont de Nemours.Co, Borealis AG and others.
On the basis of its comprehensive research, the researcher forecasts that the engine cover and front end module application will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the automotive under the hood plastic market. Passenger car is expected to show above average growth during the forecast period.
Europe is expected to remain the largest region due to increasing use of plastic content per vehicle coupled with stringent government regulations to reduce carbon emissions and increasing fuel efficiency.
Scope of the Report
Automotive Under The Hood Plastic Market by Application Type ($ Million and kilotons from 2012 to 2023)
Automotive Under The Hood Plastic Market by Vehicle Type ($ Million and kilotons from 2012 to 2023)
Automotive Under The Hood Plastic Market by Resin Type ($ Million and Kilotons from 2012 to 2023)
Company Profiles of Leading Players
Source : GLOBE NEWSWIRE