Plastic Components Market Set to Expand with Thriving Demand for Lightweight, Durable, and Cost-Effective Solutions with a CAGR of 12.2% during the forecast period.

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Published Date: May 2023

Plastic Component Market registered a CAGR of 12.2%, over the forecast period of 2022-2032. The increasing consumption of plastic due to its properties such as, light weight, moldability, waterproof properties, ease of manufacturing, and adaptability along with low cost is expected to foster the plastic component market. Plastic component along with digitization, can create n number of opportunities for the designers to create the product. As speed plastic component design with 3D CAD, can quickly produce accurate 3D part models and 2D drawings.

The report "Global Plastic Components Market, By Type (Polypropylene, Polyethylene, Acrylonitrile-Butadiene-Styrene, Polyurethanes, Polyvinyl Chloride, Polyamide (Nylon 6/6 and Nylon 6), Polycarbonate, Polyvinyl Butyral, and Other Engineering Resins), By Application (Interior, Exterior, Lighting/Electric Wiring, and Under the Hood), By Vehicle type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle, and ICE Vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2032’’

Key Highlights:

In 2019, an investment firm announces plastic components merger, MPE Partners announced a deal to acquire a North Carolina plastics manufacturer and add its operations to plastic Components Inc. (PCI) subsidiary.
In August 2022, TruArc Partners, a private equity firm focused on middle-market, announced the acquisition, of Molded Devices, Inc.

Analyst View:

The recent acquisitions in the plastic components field is expected to foster the market, there has been increase in investment in plastic components sector, due to increased demand of components from various sectors. Further, there has been rise in usage of plastic in the construction, electrical, automotive industries. Rising adoption of Electric Vehicle is also expected to fuel the growth of plastic component market.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Plastic Components Market, By Type (Polypropylene, Polyethylene, Acrylonitrile-Butadiene-Styrene, Polyurethanes, Polyvinyl Chloride, Polyamide (Nylon 6/6 and Nylon 6), Polycarbonate, Polyvinyl Butyral, and Other Engineering Resins), By Application (Interior, Exterior, Lighting/Electric Wiring, and Under the Hood), By Vehicle type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle, and ICE Vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Global Plastic Component Market registered a CAGR of 12.2%, over the forecast period of 2022-2032.The Global Plastic Component Market is segmented based on Type, Application, Vehicle Type, and region.

Based on Type, Global Plastic Component Market is segmented into Polypropylene, Polyethylene, Acrylonitrile-Butadiene-Styrene, Polyurethanes, Polyvinyl Chloride, Polyamide (Nylon 6/6 and Nylon 6), Polycarbonate, Polyvinyl Butyral, and Other Engineering Resins)
Based on Application, Global Plastic Component Market is segmented into Interior, Exterior, Lighting/Electric Wiring, and Under the Hood.
Based on End-User, Global Plastic Component Market is segmented into Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle, and ICE Vehicle.
By Region, the Global Plastic Component Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Plastic Component Market:

The prominent players operating in the Global Plastic Component Market include Saudi Basic Industries Corp., Evonik Industries AG., BASF SE., DowDuPont Inc., Arkema SA., Styron LLC., Ticona Inc., Celanese Corp., Compagnie Plastic Omnium SA., and Toray Industries, Inc.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period