Global market for automotive plastic additives projected to reach USD 12.30 billion by 2029
From GlobeNewswire: 2024-07-07 05:30:00
Exactitude Consultancy, a research arm of Ameliorate Digital Consultancy, has published a detailed report on the Automotive Plastic Additives Market. The global market size is projected to reach USD 12.30 billion by 2029, with a CAGR of 7.36% from 2022 to 2029. Key players in the market include Hitachi Limited, Siemens AG, and Wabtec Corporation. Recent developments include Hitachi Astemo’s autonomous driving technology and IBM’s acquisition of Polar Security.
The market for automotive plastic additives is driven by the demand for lightweight materials in the automobile industry. Plastics and composites are being increasingly used to reduce vehicle weight and improve fuel economy. The need for additives that enhance the strength, durability, and processing of plastics has also grown. Market segmentation includes types like passenger cars and applications like interior and exterior applications.
The market report provides historical data from 2019 to 2024 and forecasts up to 2030. Regions driving growth include North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Key questions addressed in the report include factors affecting market development, COVID-19 impact, and strategies for future growth. The report offers a detailed overview of the market dynamics, historical, and future market size, and key industry players’ strategies.
Interested parties can purchase the full report, which includes market segmentation, industry trends, and competition analysis. The report also offers customization options based on specific client requirements and will be a valuable resource for industry managers, consultants, analysts, and others seeking key industry data.
Exactitude Consultancy is a global research leader providing data-driven research services. Other reports by the company include Automotive NVH Materials Market, Inverter Duty Motor Market, and more. The research reports offer in-depth analysis, industry trends, and future market projections. Visit the Exactitude Consultancy website for more information.
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