Automotive Additive Market 2021 Industry Trends, Share and Size, Top Manufacturers and Consumer Analysis across the Region and Globe, Opportunities and Growth till 2030

In a recent published report, Kenneth Research has updated the market report for Automotive Additive Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Additive Market products.

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On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.

Global Automotive Additive Market was valued at USD 6.27 Billion in the year 2017. Global Automotive Additive Market is further estimated to grow at a CAGR of 6.45% from 2018 to reach USD 1.32 Billion by the year 2025. Asia-Pacific region holds the highest Market share in 2017 and Asia-Pacific Market is considered as the fastest growing Market in the forecasted period. At a country level, China is projected to grow strongly in the coming years.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Major market players in Automotive Additive Market are BASF SE, Akzo Nobel N.V., The Dow Chemical Company, Covestro AG, SABIC (Saudi Basic Industries Corp.), Clariant, Solvay, Croda International Plc, LANXESS, Evonik Industries AG, Kaneka Corporation, PolyOne Corporation, and other 10 more companies detailed information is provided in report. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

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SWOT Analysis of Automotive Additive Market:

Increasing demand for Fuel efficiency

Toxic and harmful to health

Rising demand in the automotive sector

Government Regulations to Meet Standards

The major shares of the Market come from Polypropylene, Plastic type in Global Automotive Additive Market. On the other hand, Interior, by application for this Market is expected to grow at highest CAGR during the year 2018-2025.

By Vehicle Type
*Electric Vehicles
o Hybrid Electric Vehicles (HEV)
o Plug-In Hybrid Electric Vehicles (PHEV)
o Battery Electric Vehicles (BEV)
*Commercial Vehicles
o Light Commercial Vehicles (LCV)
o Heavy Commercial Vehicles (HCV)

By Application Type
*Safety and Security
*Body Control and Interiors
*Fuel and Emission Control
*Engine Control and Cooling System

By Application
*Electrical and Electronics
*Under the Hood

By Type

By Plastic Type
*Poly-Vinyl-Chloride (PVC)
*Acrylonitrile Butadiene Styrene (ABS)
*Polyurethane (PUR)

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By Region
North America
*Rest of Europe
*Rest of Asia-Pacific
*Latin America
*Middle East & Africa

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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