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“Increasing stringency of emission regulations and growing focus toward lightweight vehicles to fuel the demand for automotive additives market”
The automotive additives market is projected to reach a market size of USD 8.58 billion by 2022, growing at a CAGR of 6.52% from 2017 to 2022. The major factors driving the growth of this market are the increasing demand for lightweight vehicles and Corporate Average Fuel Economy (CAFE) emission regulations. The rising trend of electrification of vehicles is also an important factor to be considered.
“The interior application segment is estimated to be the fastest growing segment”
The interior application segment is estimated to be the fastest growing segment of the automotive additives market in 2017. The demand for automotive additives in interior application is increasing owing to the focus on aesthetics, safety, comfort, color, quality, and durability. The use of plastics in a vehicle is increasing due to government emission regulations for vehicles and demand for lightweight material in vehicles by OEMs.
“The automotive additives market for passenger cars is estimated to be the fastest growing segment”
The automotive additives market for passenger cars is estimated to hold the largest market size during the forecast period. This is due to the huge production of passenger cars in countries such as China and India. The huge production of passenger cars can be attributed to the government incentives and schemes such as introduction of free trade zones and tax cuts. This has also helped to drive the overall automotive additives market and has favored the implementation of customer-focused features such as better comfort, design flexibility, aesthetics, and safety in passenger cars at an affordable price.
“Asia-Pacific is estimated to be the largest market in terms of volume”
In 2017, the largest regional market for automotive additives is the Asia-Pacific market, which holds a majority of the market share of the automotive additives market, by value and volume. This can be attributed to the large sale of electric vehicles in this region. Emerging countries such as China, India, and South Korea are now focusing on fuel efficiency by reducing the overall weight of the vehicles to meet the emission standards. This has contributed to make Asia-Pacific the largest market.
The study contains insights provided by various industry experts, ranging from additives manufacturers to automobile component manufacturers and various automotive associations. The break–up of the primaries is as follows:
- By Company Type: Tier I–75%, Tier II–15% and Tier III–10%
- By Designation: C Level–60%, D Level–25% and Others–15%
- By Region: North America-30%, Europe-40%, Asia-Pacific-20%, RoW-10%
Players Profiled in the Report are:
- Exxon Mobil Corporation
- BASF SE
- The Dow Chemical Company
- Akzonobel N.V.
- Evonik Industries AG
- Covestro AG
- Solvay S.A.
- Lanxess AG
- Clariant AG
- Kaneka Corp.
- Polyone Corporation
The report covers the automotive additives market based on additives type (Plasticizers, Anti-Scratch, Stabilizers, Antioxidants and others), automotive application (Exterior, Interior, Under the Hood and Electronics & Electrical), by plastic type (PP, PUR, PVC and ABS), by vehicle type, and region (North America, Europe, Asia-Pacific, and RoW).
Reasons To Buy the Report:
The report provides insights about the following points:
- Market Penetration: The report provides comprehensive information about automotive additives offered by the top players in the industry.
- Regulatory Framework: The report gives detailed insights into stringent emission norms leading to application of vehicle segment, and the effect of the regulations on the market.
- Market Development: The report provides comprehensive information about various automotive additives technology trends. It analyzes the markets for various automotive additives technologies across the countries.
- Market Diversification: The report provides exhaustive information about emerging technologies, recent developments, and investments in the automotive additives market.
- Competitive Assessment: The report gives in-depth assessment of strategies, services, and manufacturing capabilities of leading players in the automotive additives market.