Turkey Automotive Plastic Compounding Market Product Driving Factors, Capacity and Growth Rate Analysis to 2028

Posted on 2022-08-03 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, Aug 03, 2022 — /EPR Network/ —

Turkey Automotive Plastic Compounding Industry Overview

The Turkey automotive plastic compounding market size was valued at USD 290.9 million in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2021 to 2028.

The market is projected to witness significant growth over the forecast period owing to the rising adoption of lightweight composites in automotive components to foster fuel savings. However, the recent outbreak of COVID-19 has severely affected automotive production in Turkey due to factory shutdowns from January to April 2020. This has negatively influenced the consumption of automotive plastics and their production dynamics.

Gather more insights about the market drivers, restrains and growth of the Turkey Automotive Plastic Compounding market

The Turkish chemicals and plastics industry display significant growth potential both from domestic and international markets. Average per capita plastics consumption in the region is relatively lower than the rest of the EU, which offers significant investment opportunities for automotive plastic compounders. The Turkish automotive industry is also growing at a rapid pace with leading automobile manufacturers such as Ford, Toyota, Volkswagen, and Hyundai operating in the market.

According to PAGEV (Turkish Plastic Industry Association) data, the Turkish economy was contracted by 2.4% in the first quarter and 1.5% in the second quarter of 2019. This led to a contraction in domestic demand, where industrial production slowed down, and a decrease in industrial capacity utilization negatively impacted the private sectors. In terms of domestic plastic consumption, in the first nine months of 2019, the plastics sector witnessed a 10% decrease on a value basis as compared to 2018. Moreover, automotive production was decreased by 6% in 2019.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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Turkey Automotive Plastic Compounding Market Segmentation

Grand View Research has segmented the Turkey automotive plastic compounding market based on product and application:

Turkey Automotive Plastic Compounding Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
- Acrylonitrile butadiene styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polyamide (PA)
- Thermoplastic Elastomer (TPE)
- Others
Turkey Automotive Plastic Compounding Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
- Instrument Panels
- Powertrain
- Door Systems
- Interior Components
- Exterior Fascia
- Under-the-hood
- Others

Key Companies profiled:

Some prominent players in the global Turkey Automotive Plastic Compounding market include

EPSAN
LANXESS
PolyOne Corporation
LyondellBasell Industries Holdings B.V.
SABIC

Order a free sample PDF of the Turkey Automotive Plastic Compounding Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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