The global automotive plastics market is projected to go beyond 18 million tons by the end of the forecast period (2016-2024). Expanding at a healthy CAGR of over 13.5% during the forecast period, the industry is estimated to report more than USD 66 billion by 2024.
Increasing demand for flexible and durable products for several end-use applications has been a major factor responsible for the growth of global plastics market. The market is characterised by ever increasing applications in several end-use industries.
Global liquid crystal polymer (LCP) market size is expected to reach 81.7 kilo tons by 2020, growing at a CAGR of 8.6% from 2014 to 2020.
The global synthetic and bio super absorbent polymer (SAP) market was about 2.16 million tonnes in 2015 and it is likely to cross 3.24 million tonnes by 2024. The market valuation is expected to reach USD 11 billion at a growing CAGR of 5.5 % by 2024.
The global hot melt adhesive (HMA) market is expected to be valued around USD 9.7 billion over the forecast period and it is anticipated to grow at an approximate CAGR of over 6% over the forecast period of 2016 to 2024.
The global trimellitic anhydride market is expected to witness substantial growth over the forecast period on account of its increasing scope in the various industrial applications such as paints, coatings and wire and cable insulation.
The global marine sealant market was worth USD 6 billion in 2015 and is expected to witness substantial growth on account of exponential technological developments and increasing customer preference for sustainable products.
Increasing demand for baby diapers, adult incontinence products and feminine disposable products has been the key factor to drive PP nonwoven fabrics market over the past few years and trend is expected to continue over the forecast period. Increasing birth rate in countries such as India and China is the key factor to boost the diapers demand in these regions. This trend is expected to fuel the market growth over the foreseeable period.
Global Aerospace Plastic Flame Retardant Market is expected to witness significant growth over the next eight years on account of high safety precautions regarding the flammable materials and owing to the increased use of plastics in the aviation industry.
Growing demand from flexible packaging industry is the key factor to drive specialty and high performance films market. These films are extensively used as packaging material especially for foods & beverages, constructions and decorative interiors.
Latin America has been the fastest growing market for adhesives and sealants market over the past five years on account of strong growth in end-use industries such as automotive, construction and packaging. Increasing automobiles demand in Brazil is anticipated to augment the market growth over the forecast period.
Lubricants are extensively used in industrial and automotive application to reduce frictional force between the moving surfaces and to optimize mechanical performance. Various types of lubricants are available in the market differentiated based on parameters such as viscosity index, water separation characteristics, low volatility, anti corrosion, thermal stability, oxidation stability, and low carbon formation among others.
Unsaturated polyester resin (UPR) market has been witnessing strong growth over the last few years on account of growing construction sector, and the trend is anticipated to continue over the forecast period. Increasing construction projects on account of infrastructure development in emerging countries of Asia Pacific and Latin America is anticipated to boost UPR demand over the next five years. UPR have superior mechanical properties including high heat resistance and high hydrolytic stability.
The global aerospace plastics market was valued at approximately 57 kilotons in 2014 and it is projected to grow at an approximate CAGR of over 10% over the forecast period of 2016 to 2024.
Increasing light weight components demand in automobile industry is anticipated to fuel the global acrylonitrile butadiene styrene (ABS) market growth over the forecast period. ABS comprises durability and high strength at low temperatures, chemical resistance, heat resistance and also easy manufacturing process.
The global epoxy surface coating market size is expected to be valued at USD 26.0 Billion in 2016 and it is anticipated to grow at an approximate CAGR of over 5% over the forecast period 2016 to 2024.
The global precipitated silica is expected to witness significant growth due to increasing use in oral care, and packaging applications. In addition, properties such as abrasion resistance and high tensile strength are have led to increasing use of precipitated silica in the rubber industry.
Projected to grow at a CAGR of more than 9%, UV Curable Resin market is to witness a significant growth over the forecast period owing to strict government regulations on VOC emission into the environment and technological progress in chemical curing market.
Pressure sensitive tapes stick on the substance when pressure is applied, without a need for heat, and solvent.
Thermoplastic polyurethane belongs to the class of polyurethane plastics. The increasing usage of synthetic and bio thermoplastic films in the automotive industry is expected to drive the market over the forecast period.
Increasing market stabbing in automotive industry is expected to favor the thermoplastic polyurethane films market. The after replacement/sales market has become a central point for the utilization of TPU films in automotive industry over the recent years. Growing usage of polyether based films in healthcare applications is expected to provide positive avenues over next six years. Increasing use of TPU films in industries such as railway and aerospace & construction is expected to favour market growth over the forecast period.
Global polyvinyl chloride (PVC) market is expected to register considerable growth owing to increasing demand for rigid PVC in applications such as tubes, pipes and fittings. Increasing construction spending in emerging markets such as Brazil, China and India is expected to fuel the market growth over the forecast period. Increasing application of PVC in automotive and medical devices may positively impact the market over the next six years. PVC is widely used to manufacture pipes, wires, sheets, films, cables and bottles which find application in various end-use industries such as building & construction, electrical & electronics, transportation and packaging.
Polyurea is obtained by the reaction of synthetic resin polymer and isocyanate compounds, through step-growth polymerization technique. It is treated to manufacture lining systems, coatings, sealants, and adhesives.
The global polytetrafluoroethylene (PTFE) market is highly concentrated and is led by large multinational corporations. Positive automotive industry outlook in emerging countries such as China, Malaysia, Brazil and India is expected to be key driving forces of the market. Special properties such as low co-efficient of friction, chemical inertness and thermal stability give an upper-hand to overall cookware, textile and construction market. Growth in industrialization, chemical industry and consumer goods and medical applications is expected to have a positive impact on the overall PTFE market growth. Use of PTFE in batteries and fuel cells is expected to be a key driving force for the market.
Polyphenylene sulfide (PPS) market is expected to grow over the forecast period due its application as a high performance thermoplastic (HPTPs). Global demand is expected to exceed 150 kilo tons by 2020 growing at a double digit CAGR from 2014 to 2020. HPTPs are high price and low volume polymers making them suitable for a variety of niche applications which requires superior properties. PPS is mostly compounded with glass and carbon fiber in order to improve its mechanical properties.
Non halogenated flame retardants (NHFR) are used to induce flame retardant property to the manufactured products mainly polymers and textiles. Flame retardants control flame production to prevent spread of fire. NHFR finds application in major end-use industries including electrical, transportation, and construction. Growth in these industries is expected to drive the market over the next five years. Need for durability, insulation, and safety is addressed by flame retardants in many applications.
Bisphenol A (BPA) is derived from acrylonitrile, styrene, and butadiene. It used in producing polycarbonate, and is used as an important monomer to produce epoxy resins. BPA market is expected to witness significant growth over the next five years owing to increasing application in manufacturing polyacrylate, flame retardants, polyetherimide, and unsaturated polyester resin among others.
Cellulose fabrics are extracted from various plants and plant based materials. Fibers extracted from natural plants are called as cellulose fabrics whereas fibers extracted from plant pulps are called to be manufactured cellulose fabrics. Cotton and linin are the major natural cellulose fabrics extracted from natural plants.
The process of injection molding entails production of molded products by melting molten plastic materials with the help of injection molding machine into a mold, cooling and then solidifying it.
Increasing demand for consumer disposable products is expected to be a key factor driving the market growth over the forecast period. Growing importance for PP nonwoven fabrics due to its superior quality compared to other nonwovens, primarily in hygiene products, have been a major factor for growing demand in consumer disposable products. PP fibers and polymers are the most widely used raw materials for manufacturing nonwoven fabrics. High birth rates mainly in Asia Pacific markets have raised the demand for consumer disposable products such as baby diapers and sanitary wipes. This in turn is expected to fuel the global PP nonwoven fabric market. Growing importance for PP nonwoven fabrics in durable applications such as geotextiles, automotive and construction are expected to have a positive impact on the market. Ageing population in U.S., Japan and Western European countries have driven the demand for adult incontinence products which in turn is expected to drive PP nonwoven fabric demand over the forecast period.
Textile chemicals market has been witnessing strong growth on account of increasing demand from home furnishing industry over the past few years. Increasing residential projects in BRICS countries is anticipated to surge the market growth over the next five years. Textile chemicals are used in textile manufacturing to improve and optimize the manufacturing process. Various types of textile chemicals include printing chemicals, finishing chemicals, antistatic agents, dying chemicals and specialty chemicals. Increasing demand for these chemical products is expected to augment the market growth in near future.
Growing construction activities worldwide is expected to robust global spray polyurethane foam market growth over the next six years. Major spray polyurethane foam application includes insulation of buildings with more efficient output compared to other materials. Spray polyurethane foam exists in rigid form which enhances industrial and commercial applications such as refrigerators and thermal insulation of buildings. Increasing applications in end-use industries is expected to drive the spray polyurethane foam market growth over the forecast period. Growing construction and insulation industries owing to urbanization is anticipated to bolster the market growth over the next eight years. Unlike other insulation materials spray polyurethane foam is more efficient on account of energy conservation aspect.
Growing construction industry in emerging economies such as Brazil, India, Indonesia and China are anticipated to drive the global rigid polyurethane foams market over the next five years. Polyurethane occurs in several forms ranging from flexible or rigid foams to strong and stiff elastomers.