Market Research Future (MRFR) has launched a new release on the global Plastic Component Market. The report presents a thorough overview of the global Plastic Component Market on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period. Market Synopsis:
The global Plastic Component Market to surpass a 281,400 Thousand Units by 2025 in term of volume asserts Market Research Future (MRFR). The market is projected to capture a compound annual growth rate (CAGR) of 11.41% between 2019 and 2025). Demand for plastic component has significantly increased in the heavy-dusty vehicle manufacturing sector. Modern heavy-duty vehicles such as loaders, excavators, combine harvester, tractors, buses, trucks, and scraper have tremendous plastic content both interior and exterior. Plastic is used in making a wide range of automotive components.
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Global Plastic Component for Heavy Duty Vehicles Market: Segmental Analysis
MRFR’s report include a detailed segmental analysis of the market based on material, component type, and vehicle type.
By material, the market has been segmented into polyurethane (PU), polyethylene (PE), polycarbonate (PC), polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), polyamide (PA), polypropylene (PP) and others. The Polypropylene (PP) segment accounts for a significant share of market. The segment is expected to remain highly profitable during the assessment period. Whereas, the acrylonitrile Butadiene Styrene (ABS) segment is expected to witness a relatively high growth rate over 2025.
By component type, the market has been segmented into transmission covers, oil pan modules, cluster panels/dashboard, seating, doors, engine covers, cam cover modules, interior and exterior trims, bumpers, wheels and tires, intake air modules and others. The seating segment represents the leading market share. In 2018, more than 35,500 thousand units of plastic seating were shipped. The wheel & tire segment accounts for the second largest market share and is expected to demonstrate a CAGR of 12.40% during the review period.
By vehicle type, the market has been segmented into loaders, excavators, combine harvester, tractors, buses, trucks and scrapers. The trucks segment and the tractor segment are expected to remain attractive during the assessment period.
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