DUBLIN–(BUSINESS WIRE)–Nov 13, 2020–
The “Turkey Automotive Plastic Compounding Market Size, Share & Trends Analysis Report by Product (ABS, PP, PU, PVC, PE, PC, PA, TPE), by Application (Interior Components, Exterior Fascia), by Region, and Segment Forecasts, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The Turkey automotive plastic compounding market size is anticipated to reach USD 421.3 million by 2027, expanding at a CAGR of 5.4% from 2020 to 2027.
According to ODD, Automotive Distributors’ Association, sales of light commercial vehicles and passenger cars jumped by 60% year-on-year in July 2020 owing to the support of marketing campaigns and easing of lockdown measures. The demand for automotive vehicles in the country is expected to steadily rise, which, in turn, is projected to fuel the market growth in Turkey.
Rising environmental awareness among the consumers and stringent regulations regarding pollution control have compelled automotive original component manufacturers to control automotive emissions by utilizing innovative lightweight materials. Car weight reduction is one surefire method of achieving carbon emission savings as weight reduction drastically boosts fuel efficiency and eliminates pollution to a large extent. Thus, plastic compounds of various chemistries are being utilized in several automotive interior and exterior components to ensure lower carbon emission levels.
Amid the COVID-19 crisis, the decline in demand was observed in the manufacturing sector of Turkey in the mid-March of 2020. The country’s automotive exports decreased by 30%. Similarly, the demand for plastic compounding decreased. Automotive companies in Turkey suspended their production activities.
The demand for automotive vehicles declined as consumers were concerned about meeting their basic needs during the crisis. As the main markets for the Turkish automotive industry are European countries and about 75% of automotive production is sold in the European market, the production of automotive plastics and OEMs was negatively impacted by the decreasing domestic and foreign demand.
Turkey Automotive Plastic Compounding Market Report Highlights
- Polypropylene (PP) was the largest product segment in 2019. PP resins have become an essential ingredient for lightweight impact-resistant automotive parts on account of the lower specific gravity of PP resins, which provides improved fuel economy and low emission
- The interior components segment was the largest application segment in 2019. The rising demand for lightweight interior components to reduce the overall vehicle weight and enhance the efficiency is driving the demand for automotive plastic compounding in the interior application
- The exterior fascia segment is expected to emerge as the fastest-growing application segment in the forecast period owing to rising demand for energy management technologies that impede roof crush, resist vehicle intrusion, and lower the overall car body weight without compromising on safety or performance.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Market Lineage Outlook
3.2.1 Plastic compounding Market Outlook
3.3 Penetration & Growth Prospect Mapping
3.4 Industry Value Chain Analysis
3.4.1 Raw Material Trends
3.4.2 Manufacturing Trends
3.5 Effect of Turkey automotive plastic compounding in polymers
3.6 COVID-19 Impact on the Turkey Automotive Plastic Compounding Market
3.7 Production Technology Overview
3.8 Regulatory Framework
3.9 Market Dynamics
3.9.1 Market Driver Analysis
188.8.131.52 Rising Demand for lightweight automobiles to lower carbon emissions
184.108.40.206 Recovery of Plastic Sector
3.9.2 Market restraint Analysis
220.127.116.11 Volatile Crude Oil prices
3.10 Business Environment Analysis: Plastic Compounding Market
3.11 PESTEL analysis
3.12 Profit Margin Analysis
3.13 Average Selling Price of Major Automotive Plastic Compounds
Chapter 4 Turkey Automotive Plastic Compounding Market: Product Estimates & Analysis
4.1 Turkey automotive plastic compounding market: Product movement analysis
4.2 Acrylonitrile butadiene styrene (ABS)
4.2.1 Acrylonitrile butadiene styrene (ABS) Automotive Plastic Compounding market estimates and forecasts, 2016-2027 (Kilotons) (USD Million)
4.3 Polypropylene (PP)
4.3.1 Polypropylene (PP) automotive plastic Compounding market estimates and forecasts, 2016-2027 (Kilotons) (USD Million)
4.4 Polyurethane (PU)
4.5 Polyvinyl Chloride (PVC)
4.6 Polyethylene (PE)
4.7 Polycarbonate (PC)
4.8 Polyamide (PA)
4.9 Thermoplastic Elastomers (TPE)
Chapter 5 Turkey Automotive Plastic Compounding Market: Application Estimates & Analysis
5.1 Turkey automotive plastic compounding market: Application movement analysis
5.2 Instrument Panels
5.2.1 Turkey Automotive Plastic Compounding market estimates and forecasts, in Instrument Panels, 2016-2027 (Kilotons) (USD Million)
5.4 Door Systems
5.5 Interior Components
5.6 Exterior Fascia
5.7 Under the hood components
Chapter 6 Competitive Landscape
6.1 Key global players, recent developments, & their impact on the industry
6.2 Vendor Landscape
6.3 Public Companies
6.4 Heat Map Analysis of Companies
6.5 Private Companies
6.6 SWOT Analysis of Major Companies
6.7 Geographical Mapping of Market Ecosystem
Chapter 7 Company Profiles
- Petkim Petrokimya Holding A.S.
- Alfa Polimer Inovasyon Plastik A.S.
- Tisan Muhendislik Plastikleri San. Tic. Ltd. Sti.
- Elastron TPE
- Pimar-Plastics Limited
- MASKOM Plastik San. ve Tic. Ltd. Sti.
- ALBIS Distribution GmbH und Co. KG
- PolyOne Corporation
- LyondellBasell Industries Holdings B.V
- EUROTEC A.S.
- Polytek Development Corp.
For more information about this report visit https://www.researchandmarkets.com/r/zanghs
View source version on businesswire.com:https://www.businesswire.com/news/home/20201113005465/en/
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KEYWORD: TURKEY EUROPE
INDUSTRY KEYWORD: CHEMICALS/PLASTICS AUTOMOTIVE MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 11/13/2020 09:37 AM/DISC: 11/13/2020 09:37 AM