Turkey automotive plastic
compounding market is expected to reach USD 390.8 million by 2025, according to
a new report by Grand View Research, Inc. Growing environmental concerns &
stringent pollution control norms have compelled automotive OEMs to control
emissions by utilizing innovative lightweight materials.
The country’s automotive
production increased from 1.17 million units to 1.35 million units between
2014-15, thereby generating significant demand for compounds. Numerous
companies and compounders across Europe have expanded their production
capacities recently in order to meet burgeoning demand from automotive and
other consumers.
Exclusive partnerships between
OEMs and compounders is crucial for the industry to evolve in terms of supply
chain efficiencies. Automakers are also attempting to accommodate increasing
geriatric driver population by including safety features in reduced package
space, and enhancing safety belt designs using plastics.
Polyamide (PA) compounds,
particularly PA6 and PA66, which accounted for nearly 10% consumption, are
extensively being used in automotive applications that include radiator tanks,
engine covers, pedal boxes and various other components. To meet growing demand
for PA, Epsan has increased its capacity in the country by nearly 45%.
In depth research report on Turkey Automotive Plastic
Compounding Market
Further key findings from the report suggest:
•
Turkey automotive plastic
compounding market was estimated at 102.39 kilo tons in 2015 and is projected
to reach 183.80 tons by 2025
•
Polypropylene compounds
dominated overall consumption and accounted for 32% of the volume in 2015.
These polymers are utilized in a wide range of components that include bumper
fascia, interior trims, fenders, seating, door trims, boot liners and
instrument panels.
•
Polyethylene (PE) is expected
to emerge as another fast growing product with 6.1% CAGR from 2016 to 2025. The
plastic is most widely utilized to manufacture the exterior body and other
electrical insulation components owing to low density, good toughness and
chemical resistance
•
Polyurethane (PUR), which is
widely processed into flexible & rigid foams for seating, housing,
interiors, and panels, is expected to occupy over 15% of overall volume by
2025.
•
Under the hood components is
anticipated to grow at a steady CAGR of 5.3% from 2016 to 2025. Polymer usage
is expected to increase under the hood automakers rush to build small,
fuel-efficient engines.
•
Major companies operating in
the industry include LyondellBasell Industries N.V., Elastron, Maskom
Masterbatch & Compound Technologies, Tisan, Epsan Plastik and PolyOne
Corporation, Kingfa, Ravago, Polytek, Interplast, SABIC, and Emas Plastik among
others
Grand View Research has
segmented the Turkey automotive plastic compounding market on the basis product
and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million;
2014 - 2025)
•
Acrylonitrile Butadiene Styrene
(ABS)
•
Polypropylene (PP)
•
Polyurethane (PU)
•
Polyvinyl Chloride (PVC)
•
Polyethylene (PE)
•
Polycarbonate (PC)
•
Polyamide (PA)
•
Thermoplastic Elastomers (TPE)
•
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million; 2014 - 2025)
•
Instrument Panels
•
Powertrain
•
Door Systems
•
Interior Components
•
Exterior Fascia
•
Under the Hood Components
•
Others
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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