#Vacuum Truck Market Growth

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Global Vacuum Truck Market Size, Share, Growth ⅼ Forecast (2024 – 2032) | Renub Research

Global Vacuum Truck Market value is anticipated to be about US$ 3.11 billion by 2032. The CAGR for the industry from 2024 to 2032 is 6.53%. Renub Research said that it amounted to US$ 1.76 billion in 2023. Vacuum trucks are innovative machines that split, accumulate, and haul away soil and different particles. Their fundamental layout consists of a truck with an extensive series tank hooked to a…

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Vacuum Truck Market, Size, Global Forecast 2024-2032, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

The vacuum truck market has grown and become more diverse in recent years. These flexible vehicles are discovered in lots of industries, like manufacturing, where they do important jobs. They clean gutters, sanitize sewers, collect stormwater, and competently take care of substances all through hydro excavation. 

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Aluminum Target Market Value, Growth, and Trends

Advance Market Analytics published a new research publication on "Aluminum Target Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Aluminum Target market was mainly driven by the increasing R&D spending across the world.

Get Free Exclusive PDF Sample Copy of This Research @ https://www.advancemarketanalytics.com/sample-report/1601-global-aluminum-target-market-1 Some of the key players profiled in the study are: E-light (United Kingdom), Lesker (United States), Beijing Scistar Technology (China), Kaize Metals (India), Beijing Guanli (China), ZNXC (China). Scope of the Report of Aluminum Target Aluminum Target market is expected to mark significant growth over forecasted period owing to increasing consumers spending on passenger vehicles, passenger vehicles and others applications and technological advancement. Aluminum Target allows users to generate an eco-friendly, efficient and cost-effective provide output. This result in rising popularity of commercial activities and escalating need for commercial applications may trigger demand and help in industry expansion. The titled segments and sub-section of the market are illuminated below: by Type (Plane Target, Rotating  Target), Application (Microelectronics, Monitor, Storage, Other) Market Trends: Increasing demand at Asia-Pacific region.

Opportunities: Better performance against chemical attack.

Upsurge Demand of aluminum target that used for vacuum deposition and electroplating.

Market Drivers: Increase demand of aluminum target in passenger vehicles and commercials trucks.

Rapid Demand of aluminum target due to eco-friendly, efficient and cost-effective in nature.

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc. Have Any Questions Regarding Global Aluminum Target Market Report, Ask Our Experts@ https://www.advancemarketanalytics.com/enquiry-before-buy/1601-global-aluminum-target-market-1 Strategic Points Covered in Table of Content of Global Aluminum Target Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Aluminum Target market

Chapter 2: Exclusive Summary – the basic information of the Aluminum Target Market.

Chapter 3: Displayingthe Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Aluminum Target

Chapter 4: Presenting the Aluminum Target Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020

Chapter 6: Evaluating the leading manufacturers of the Aluminum Target market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2023-2028)

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source finally, Aluminum Target Market is a valuable source of guidance for individuals and companies. Read Detailed Index of full Research Study at @ https://www.advancemarketanalytics.com/reports/1601-global-aluminum-target-market-1 Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia. Contact US : Craig Francis (PR & Marketing Manager) AMA Research & Media LLP Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

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Regional Outlook of the Cryogenic Tanks Market: Trends and Forecast

The cryogenic tanks market has been growing significantly over the past decade owing to the increasing demand and consumption of liquefied natural gas globally. Cryogenic tanks are specifically designed storage vessels used for storing liquefied gases at temperatures lower than -150 degree Celsius. The main liquefied gases stored using cryogenic tanks include liquefied natural gas (LNG), oxygen, nitrogen, argon, and liquefied hydrogen. Cryogenic tanks provide an efficient, safe and economical solution for storage and transport of liquefied gases over long distances via ships, railcars or trucks. The burgeoning LNG industry has been the primary growth driver for cryogenic tanks considering its increasing usage in power generation, industrial processes and transportation fuel. The Global Cryogenic Tanks Market is estimated to be valued at US$ 6.51 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030. Key Takeaways

Key players operating in the cryogenic tanks are ArcelorMittal, China Baowu Group, Nippon Steel Corporation, POSCO, Shagang Group, Ansteel Group, Glencore, Sumitomo Metal Mining Company, Linde, INOX India Pvt., Cryofab, FIBA Technologies, Air Products and Chemicals, Inc., M1 Engineering, Chart Industries, Wessington Cryogenics, Isisan, Lapesa, Auguste Cryogenics, and Hoover Ferguson Group, Inc.. Key players are focusing on capacity expansions and investments in research and development to develop improved and more durable cryogenic tank materials. The growing demand for LNG as a cleaner alternative fuel for power generation and transportation has been driving increased consumption of cryogenic tanks globally. Countries like China and India have emerged as high growth markets for LNG and cryogenic storage infrastructure. Technological advancements in cryogenic tank materials including 9% nickel steels and composite materials have enhanced durability and reduced maintenance costs of cryogenic storage and transportation systems. Development of vacuum insulated and modular cryogenic tank designs have also optimized storage capacity. Market Trends

Thinner tank walls: Tank manufacturing companies are developing tank designs with thinner and lighter tank walls through advanced material engineering while maintaining required strength and integrity at cryogenic temperatures.

Modular construction: Modular construction techniques allow cryogenic tanks to be assembled on-site with pre-fabricated sections reducing construction timelines significantly. This helps meet the rapidly growing demand. Market Opportunities

Reusable cryogenic tanks: There is scope for reusable cryogenic tank designs that can be returned, refilled and redeployed to improve cost efficiencies over the life cycle. On-site storage: With growing decentralized energy needs, there exists opportunities for scaled-down on-site stationary cryogenic storage for industrial applications. Impact of COVID-19 on Cryogenic Tanks Market

The outbreak of the COVID-19 pandemic had a significant impact on the growth of the cryogenic tanks market initially. During the lockdown period of 2020-2021, production facilities and manufacturing plants were temporarily shut down due to strict social distancing norms. This led to disruptions in the supply chain and a drop in demand across end-use industries such as oil & gas, metallurgy, power generation and others which use cryogenic tanks. However, with vaccination drives and easing of lockdowns from mid-2021, production and supply chain activities have resumed while following necessary safety protocols. The demand from power generation and healthcare sectors increased significantly driven by the need for medical oxygen which boosting the cryogenic tanks market again. Going forward, the pandemic has highlighted the need for reliable and flexible gas supply infrastructure which is expected to drive investments towards building new liquefaction plants and expanding gas transportation facilities using cryogenic tanks. Geographical Regions with High Concentration in Cryogenic Tanks Market

Asia Pacific region dominates the global cryogenic tanks market in terms of value owing to high demand from China, India and other developing countries. This is attributed to rapid industrialization, growing demand for LNG and medical oxygen along with government initiatives towards gas-based economy and clean energy. North America is the second largest market for cryogenic tanks driven by increasing production of shale gas and its transportation/storage requirements in the region. Europe also holds significant share in the market supported by ongoing energy transition initiatives towards replacing coal/oil with cleaner natural gas and hydrogen. Fastest Growing Region for Cryogenic Tanks Market

Asia Pacific region is projected to be the fastest growing market for cryogenic tanks during the forecast period of 2023-2030. This is because majority of planned investments and capacity addition of gas liquefaction, regasification and gas-based power plants are concentrated in emerging economies of China, India and ASEAN countries. Additionally, rising LNG trade activities between Asia and other regions increases the requirements for tanker transportation of gas using cryogenic technology. Government policies supporting gas utilization over other fuels as well as expanding industrialization will further augment the demand for cryogenic tanks from various end-use industries in Asia Pacific.

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Understanding Different Types of Hydraulic Pumps

Understanding Different Types of Hydraulic Pumps – Hydraulic pumps are essential tools widely utilized across different sectors. These devices find applications in various industrial and mobile hydraulic machinery, ranging from cranes and tractors to loaders and vacuum trucks. Given their versatility, hydraulic pumps are a mainstay in mining, vehicle manufacturing, oil and gas, forestry, marine, agriculture, and construction. It’s no wonder that according to Technavio, the global hydraulic pump market is projected to witness a considerable growth of $3.53 billion (£2.82 billion) between 2021 and 2026.

One can say that hydraulic pumps are the beating heart of hydraulic systems. The primary role of a hydraulic pump is to convert mechanical energy into hydraulic energy, characterized by a blend of flow and pressure. Essentially, any device that can be manipulated to create force and generate pressure, resulting in flow, qualifies as a hydraulic pump.

Different Types of Hydraulic Pumps

The world of hydraulic pumps encompasses three fundamental types: 

Gear

Piston

Vane pumps. 

These pump classifications further branch into distinct subcategories, such as fixed and variable displacement pump types.

Powered by Electricity

Electrically driven hydraulic pumps are powered by electric motors, serving as vital energy sources for hydraulic systems. Modern electric pumps are particularly effective for smaller to medium-sized hydraulic tools, making them ideal for applications necessitating convenient pump mobility.

Manual Operation with Hydraulic Hand Pumps

Hydraulic hand pumps operate through manual force exerted on an actuator, propelling the fluid. This actuator can be a handle, lever, or toggle. Hydraulic hand pumps find utility in various applications, including water pumping and hydraulic fluid distribution.

Air-Driven Hydraulic Pumps

Air hydraulic or pneumatic hydraulic pumps utilize compressed air to initiate pump action, converting pressurized liquids into energy. These pumps play a vital role across multiple industries, facilitating the lifting of heavy loads and transporting materials with reduced initial force.

Portable Cordless Battery-Powered

Hydraulic Pumps High-pressure cordless battery-powered hydraulic pumps are prized for their safety, speed, and portability. They prove invaluable in remote settings lacking power sources, ensuring efficiency and convenience. These cordless pumps find application indoors, especially when prioritizing size, minimizing trip hazards, and optimizing’s ergonomics.

Constant Output Pumps

A constant-output pump belongs to the positive displacement category, exhibiting an unalterable displacement volume due to the absence of control mechanisms. This type maintains a steady flow rate, ensuring that each motor stroke propels the same quantity of fluid. Constant output pumps boast straightforward maintenance, cost-effectiveness, and simplicity, making them a preferred choice. These pumps find application in hydraulic systems with an open Centre. Among them, the gear pump stands as the most uncomplicated fixed-displacement pump. Rotating gears drive the hydraulic gears in this pump, with the gears interlocking for enhanced efficiency. Another notable variation is the screw pump, leveraging the renowned Archimedes screw to mobilise the fluid. Fixed displacement pumps are renowned for their capacity to deliver a high flow rate at relatively low pressure.

Adaptable Output Pumps

Adaptable output pumps effectively transform mechanical energy into hydraulic energy, and their hydraulic flow needs can vary depending on the operational circumstances. Unlike fixed displacement pumps, the swashplate of an adaptable output pump is adjustable, allowing for alteration based on pressure cues. Modifying the swashplate angle enables the pump to accommodate increased flow demands, resulting in an elongated piston stroke that augments pump displacement. These pumps find application in closed-Centre systems, functioning differently from their fixed displacement counterparts. In a closed Centre system, the swashplate angle of the adaptable output pump diminishes when the demand for flow decreases, preventing surplus flow or loss of hydraulic power.

Cogwheel Pumps

Cogwheel pumps are one of the most straightforward and prevalent hydraulic pump varieties today. They fall under the positive displacement pumps category, specifically fixed displacement pumps. Within this pump, fluid is propelled by containing a set fluid volume using intermeshed gears and then transferring it as the gears revolve. Typically, a gear pump comprises two gears: the driving gear, connected to a mechanical power source or prime movers, and the driven gear, which remains idle. The output of a gear pump yields a steady flow directly proportionate to the rotational speed of the gears. This pump type is predominantly deployed for generating high pressure.

These pumps find application in hydraulic systems with an open-Centre configuration. They confine oil in the spaces amid the pump’s body and the teeth of its two gears, circulating it around the gear cavity’s periphery and propelling it through the exit port upon gear meshing. A minute quantity of pressurized oil behind the wear plates pushes it firmly against the ends of the gear, enhancing pump efficiency. Gear pumps are commonly assessed based on the pump’s maximum input speed restriction, highest pressure tolerance, and cubic inch displacement. Moreover, the swept volume for hydraulic gear pumps typically ranges between 1 to 200 millimetres. An intriguing detail about gear pumps is that their volumetric efficiency ranks lower than the other primary pump types.

Benefits of Gear Pump

Simplicity and compactness with minimal moving components

Cost-effective solution

Low maintenance expenses

Capable of generating high pressures (up to 3000 psi)

Effective for pumping viscous liquids like oils with minimal leakage risk

Operate in both directions, suitable for loading and unloading

Resilient to contamination

Challenges with Gear Pumps

Known for producing noticeable noise during operation.

Limited range of sizes, rendering them unsuitable for substantial bulk flow rates.

Not compatible with abrasive fluids due to the use of meshing gears.

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Global Die Casting Market Is Estimated To Witness High Growth Owing To Increasing Demand from Automotive and Aerospace Industries

The global Die Casting Market is estimated to be valued at US$ 77.99 Bn in 2023 and is expected to exhibit a CAGR of 6.24% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The die casting market involves the production of complex metal parts through the process of forcing molten metal under high pressure into reusable molds. The die casting process offers several benefits, including high dimensional accuracy, smooth surface finish, and the ability to produce intricate shapes. Die casting finds extensive applications in industries such as automotive, aerospace, consumer goods, electrical and electronics, and healthcare. The automotive and aerospace industries are the major drivers for the growth of the die casting market, owing to the increasing demand for lightweight and fuel-efficient vehicles and aircraft.

B) Market Dynamics:

Two major drivers for the growth of the die casting market are:

1. Growing Automotive Industry: The automotive industry is witnessing significant growth globally, with consumers demanding fuel-efficient and lightweight vehicles. Die castings are extensively used in automotive parts manufacturing due to their high strength, durability, and cost-effectiveness. Moreover, advancements in die casting technologies, such as vacuum-assisted high-pressure die casting (HPDC), have further increased the demand for die castings in the automotive industry.

2. Increasing Demand from Aerospace Industry: The aerospace industry is witnessing substantial growth due to rising air travel demand and increasing defense expenditure worldwide. Die castings are widely used in manufacturing aircraft components such as engine parts, wing frames, and structural components. The use of die castings in the aerospace industry helps in reducing weight, enhancing fuel efficiency, and improving overall aircraft performance.

C) Market Key Trends:

One key trend observed in the Die Casting Market is the increasing adoption of aluminum die castings. Aluminum is the most commonly used material in die casting due to its lightweight, excellent strength-to-weight ratio, and high thermal and electrical conductivity. The automotive industry is the major consumer of aluminum die castings, where they are used in engine components, transmission housings, wheels, and other structural parts. For instance, the Ford F-150 series of trucks extensively utilize aluminum die castings in their construction to reduce weight and improve fuel efficiency.

D) SWOT Analysis:

Strengths:

1. High dimensional accuracy: Die castings offer high dimensional accuracy, ensuring precise fit and assembly of parts.

2. Cost-effective production: The die casting process allows for mass production of complex parts at a lower cost compared to other manufacturing processes.

Weaknesses:

1. Limited flexibility in design changes: Once a die is created, any design changes become costly and challenging to implement.

2. Environmental impact: The die casting process produces significant amounts of waste and can have negative environmental implications if proper measures are not taken for waste management and recycling.

Opportunities:

1. Growing demand from emerging economies: The increasing industrialization and infrastructural development in emerging economies present significant opportunities for the die casting market.

2. Adoption of lightweight materials: The demand for lightweight materials in various industries, such as automotive and aerospace, provides opportunities for the use of die castings.

Threats:

1. Intense competition from alternative manufacturing processes: Other manufacturing processes such as 3D printing and CNC machining pose a threat to the die casting market.

2. Fluctuating raw material costs: The prices of raw materials used in die castings, such as aluminum, zinc, and magnesium, are subject to market fluctuations.

E) Key Takeaways:

- The global die casting market is expected to witness high growth, exhibiting a CAGR of 6.24% over the forecast period, due to increasing demand from the automotive and aerospace industries.

- The Asia-Pacific region is expected to be the fastest growing and dominating region in the die casting market, owing to rapid industrialization, growing automotive production, and increasing investments in aerospace and defense sectors.

- Key players operating in the global die casting market include Alcast Technologies, Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die Casting, Ryobi Die Casting Inc., Bodine Aluminum, and Martinrea.

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Railroad Equipment Market Analysis, Size, Growth, Competitive Strategies, and Worldwide Demand

Global Railroad Equipment Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions. Major Players in This Report Include EMD (United States),Siemens (Germany),Wabtec (United States),American Railcar Industries (United States),GE (United States),Greenbrier (United States),Progressive Rail Locomotive (United States),Trinity Industries (United States),ALSTOM (France),Bombardier (Canada),CRRC Corporation (China),NIPPON SHARYO (Japan)

The railroad equipment is the equipment that supports railroad projects. In this many equipments are involved in the category used for multiple types of work. In railroads, projects require highly specialized equipment, engineers and other unique services to perform railroad services. This market growth depends on the demand for the rail industry. Market Drivers Rise in Demand of Public Transport by the Government

Increasing Demand for Comfort Zone While Travelling

The Growing Number of Trains Worldwide

Increasing Disposable Income of People

Market Trend Increase in the Number of Passengers Using Railways

The Rapid Adoption of IoT and Safety in Railways

Rising Demand for Scrap Produced During Steel Making

Opportunities Increasing Construction Activities and Infrastructure in the Asia-Pacific Region

Challenges  High Initial Cost Investment in Railways The Railroad Equipment market study is being classified by Application (Railway, Subway, Others), Equipment (Caterpillar Sideboom, Caterpillar Track Loader, Caterpillar Wheel Loader, Caterpillar Excavator / Track Hoe, Hi-Rail Crane, Locomotive Service Truck (LST), Hi-Rail Vacuum Truck, Caterpillar Dozer, Dozer Rake, Caterpillar Backhoe, Dump Truck, Others) Presented By

AMA Research & Media LLP

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The global vacuum truck market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.78% during 2023-2028.

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vacuum truck market is presently valued at USD 1.22 billion and is poised to amplify at a CAGR of 6.8% over 2022-2030, thereby amassing a valuation of USD 1.93 billion by end of the assessment timeline.

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Automotive Plastics Market – Forecast (2022-2027)

The Automotive Plastics Market size is estimated to reach US$53.8 billion by 2027 after growing at a CAGR of 5.4% during the forecast period 2022-2027. Automotive Plastics are specialty plastic materials that are used to enhance the safety, performance, and functionality of vehicles. Automotive plastics such as polypropylene (PP), polycarbonate (PC), polyvinyl chloride (PVC), polyurethane (PU), acrylonitrile butadiene styrene (ABS), and others have flourishing applications in automotive interiors, exteriors, under the bonnet, and other vehicle components. The superior properties of plastics such as flexibility, corrosion resistance, thermal insulation, and noise reduction for applicability in light commercial vehicles for maximum fuel efficiency are creating a drive in the automotive plastics industry. The covid-19 pandemic disrupted the growth and functioning of the market. The halt in production, demand and supply gap, and other lockdown restrictions resulted in a slowdown. However, with robust demand and recovery in major end-use industries, along with growing automotive vehicle production, the automotive plastics market is anticipated to rise during the forecast period.

Report Coverage

The report: “Automotive Plastics Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the automotive plastics market.

By Type: Polyurethane (PU), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyamide (PA), Polycarbonate (PC), Polybutylene Terephthalate (PBT), Acrylonitrile-Butadiene-Styrene (ABS), Polyethylene (PE), Polyethylene Terephthalate (PET), and Others

By Process: Injection Molding, Blow Molding, Extrusion, Vacuum Forming, and Others

By Application: Dashboard, Lighting, Glass Interlayer, Interior Trim, Bumper, Door Handles, Upholstery, Fuel System, Under the Hood, and Others

By End-Use Industry: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles (Buses, and Trucks), and Off-road Vehicles

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel, and Rest of the Middle East], and Africa [South Africa, Nigeria, and Rest of Africa])

Key Takeaways

Asia-Pacific dominates the automotive plastics market, owing to flourishing lightweight automotive production, established base for light electric vehicles, and rising demand for passenger vehicles in APAC, thereby boosting its growth in the APAC region.

The passenger vehicles (PV) sector is rapidly growing in the automotive plastics industry due to the rising applicability of plastics such as PP, PU, PVC, PE, and others for various automotive components, along with growing urbanization and demand for light vehicles for transportation, thereby driving the market.

The rising emphasis on fuel efficiency and lightweight automotive vehicles to reduce carbon emissions and limit fuel consumption creates a drive for the automotive plastics market during the forecast period.

However, the recyclability issues and emergence of alternatives such as bioplastics, carbon fiber-based plastics, soy, and hemp-based polymers, and others create major challenges and growth slowdown in the automotive plastics market.

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Automotive Plastics Market Segment Analysis – By Type

The Polypropylene (PP) segment held the largest share in the automotive plastics market in 2021 and is forecasted to grow at a CAGR of 5.7% during the forecast period 2022-2027. The growth of polypropylene (PP) plastic in automotive applications is due to its advantages and preference over other automotive plastics. The superior features of PP such as fuel efficiency, cost-effectiveness, lightweight, and high suitability for low-friction applications boost its demand compared to other engineered plastics options that are not cost-effective and lightweight. Moreover, the versatility and preference of PP for light vehicles and fuel-efficient vehicles over other automotive plastics such as polyurethane (PU), acrylonitrile butadiene styrene (ABS), and others are thereby propelling the demand for polypropylene automotive plastics. Polypropylene plastics are used in various automotive components such as dashboards, upholstery, interior trim, car seats, hard plastic parts, and others. With the increasing applicability of polypropylene in automotive to manufacture light and low-cost vehicles, the demand for polypropylene plastics is also substantially rising, thereby supporting the segment growth.

Automotive Plastics Market Segment Analysis – By End-Use Industry

The passenger vehicles (PV) segment held a significant share in the automotive plastics market in 2021 and is forecasted to grow at a CAGR of 6.3% during the forecast period 2022-2027. Automotive plastics such as polycarbonate (PC), polypropylene (PP), polyvinyl chloride (PVC), and others have major applicability in the passenger vehicles for interior trim, lighting, bumper, seating, and others. The passenger vehicle sector is rapidly growing owing to urbanization, demand from the middle-class segment, and an increase in demand for passenger cars, two-wheelers, and three-wheelers as public transportation. According to the Society of Indian Automobile Manufacturers (SIAM), the domestic sales of passenger vehicles in India rose from 2,711,457 units in 2020-21 to 3,069,499 units in 2021-22. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total passenger car production rose from 55,834,456 units in 2020 to 57,054,295 units in 2021. With the flourishing production and increase in demand for passenger cars across the globe, the demand for automotive plastics is anticipated to grow rapidly for applications in exterior, interior components, and others thereby will boost the growth of the passenger vehicles (PV) industry in the automotive plastics market during the forecast period.

Automotive Plastics Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the automotive plastics market in 2021 up to 43%. The robust growth of automotive plastics in APAC is due to flourished automotive vehicle production, growing vehicle manufacturing units, and high demand for specialty plastics in automotive across major counties such as China, India, Japan, and others. The automotive industry, majorly the passenger vehicles and light commercial vehicles sector is growing due to the high demand for fuel-efficient vehicles among the middle-class segment and urbanization. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automotive production increased from 3% in 2021 after a fall of 2% in China and increased by 30% in 2021 after a decline of 25% in India in 2020. Furthermore, initiatives such as Make in India and Automotive Mission Plan 2026 plan to boost the automotive sector in India and offer a contribution of 12% by automotive in the GDP by 2026. With the increase in automotive vehicle productions and vehicle manufacturing base, majorly for cars and LCV, the demand for automotive plastics such as polypropylene, polyvinyl chloride, polycarbonate, and others for applications in automotive interior, bonnet, exterior parts, and others is anticipated to grow. This will boost the growth of the automotive plastics industry in the Asia-Pacific during the forecast period.

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Automotive Plastics Market Drivers

Bolstering Growth of Light Weight and Fuel-Efficient Materials in Vehicles

The demand for lightweight and fuel-efficient vehicles is growing rapidly. The emphasis by the government on carbon emission and efficiency is boosting the adoption of lightweight and efficient automotive vehicles. Automotive plastics such as polypropylene (PP), polyurethane (PU), and others offer lightweight bodies to the vehicle and have applicability in vehicle roof, engine, fuel tank, lighting, seating, and others, thereby reducing the fuel consumption and carbon emissions. For instance, regulations mandate that the average fuel economy must meet 54.5 miles per gallon in the United States by 2025. Furthermore, the development of light materials such as lighter PP, polymethyl methacrylate (PMMA), biodegradable plastic composites, and others provide lightweight to the automotive body and reduces fuel consumption. Thus, with rising emphasis on lightweight and reduction in carbon emissions, the demand for automotive plastics for applications offering lightweight vehicle components is growing, thereby driving the market.

Rising Production of Electric Vehicles

Automotive plastics such as polypropylene, polycarbonate, acrylonitrile butadiene, polyurethane, and others have major applications in the electric vehicle for various interior, bonnet components, and exterior parts. The electric vehicle sector is growing rapidly with the increase in government initiatives for vehicle electrification and stringent emissions norms for fuel-based vehicles for carbon emissions. For instance, Honda announced plans to invest US$40 billion in the development of electric vehicles and launch 30 EVs by 2030 in India. According to the International Energy Agency (IEA), the global electric car sector saw a growth of 43% in 2020 compared to 2019, hitting a 10 million mark. Furthermore, the number of electric cars on the roads was 16.5 million in 2021, triple the number in 2018. With the increase in demand and production for electric vehicles, the application of automotive plastics such as polypropylene (PP), polyurethane (PU), and others is growing to offer lightweight and fuel efficiency for EVs, thereby driving the market and providing major growth in the market.

Automotive Plastics Market ChallengesRecycling Issues and Emergence of Alternative for Automotive Applications

Automotive plastics face recycling issues owing to factors such as the lack of advanced recyclable technology. This creates environmental impacts and solid waste accumulation, thereby hindering the demand. Furthermore, the emergence of alternatives such as carbon fiber for applications in automotive creates a major challenge in the market. The rising usage of materials prepared from natural fibers, soy and hemp fibers, sheet molding compounds, and others poses a major threat to automotive plastics such as polypropylene, polyurethane, PET, and others. Thus, with the issues in recycling and the threat from other alternative materials, the automotive plastics market faces a major slowdown and challenge.

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Automotive Plastics Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the automotive plastics market. Automotive plastics top 10 companies are:

BASF SE

LyondellBasell Industries Holdings BV

Covestro AG

Evonik Industries

Solvay SA

Arkema SA

LG Chem

Teijin Ltd.

Dupont

SABIC

Recent Developments

In February 2022, the Celanese planned to acquire the mobility and materials division of DuPont, which produces thermoplastics and elastomers with a large share for automotive applications, thereby boosting the product portfolio and growth in the market.

In December 2021, the Total Energies and Plastic Omnium entered into a partnership for the development of recyclable PP plastic material for applications in the automotive industry. This innovative and recycled PP material will provide reduced carbon emissions and has flourishing applicability and demand in 0electric vehicles, thereby offering growth in the market.

In May 2021, the Covestro AG launched recycled polyethylene terephthalate (rPET) or fused granule technology. This launch has major applications in the automotive industry for interior vehicle parts, thereby boosting the demand and growth in the automotive plastics market.

Relevant Reports

Automotive Plastic Fasteners Market

Report Code: CMR 53208

Recycled Plastics Market

Report Code: CMR 88916

For more Chemicals and Materials Market reports, please click here

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North America Vacuum Truck Market Trends, Industry Analysis, 2022-2028

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated North America Vacuum Truck Market size at USD 961.2 million in 2021. During the forecast period between 2022 and 2028, BlueWeave expects North America vacuum truck market size to grow at a steady CAGR of 9.7% reaching a value of USD 1,827.3 million by 2028. North America vacuum truck market is being driven by the advancing vacuum truck technology, ease of operation, and rising environmental awareness. Furthermore, due to rapid urbanization and industrialization, there is an emerging demand in towns and municipalities for vacuum trucks for a variety of functions, such as sewage cleaning, preventative maintenance, and industrial cleaning.

The petrochemical companies use vacuum trucks for emergency clean-up, offshore activities, and oil separation. However, components, high-end technology of vacuum trucks, and regular maintenance are expensive. Consequently, it may lead consumers to adopt conventional cleaning technique. This, in turn, is anticipated to hamper the growth of North America vacuum truck market.

North America Vacuum Truck Market – Overview

Vacuum truck comprises vacuum pump, inline filter, and debris collector tank designed to collect and transport waste, slurry, and large-scale sludge and liquid clean up in municipal applications. In addition, they are used in various industries, such as construction, automotive, and manufacturing. Vacuum trucks are beneficial for cleaning and disinfection of tidal ponds, tanks, and city water infrastructure through powerful hydro-exhuming and vacuum frameworks. Advanced materials, such as carbon fiber and Kevlar, are increasingly being employed in the manufacture of vacuum vehicles. As these materials are sturdy and lightweight, vacuum trucks use less gasoline and are easier to maneuver. Using sophisticated materials can help to extend the lifespan of a vacuum truck by safeguarding it from deterioration over time. Hence, North America vacuum truck market is projected to continue to rise in the coming years.

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North America Vacuum Truck Market – By Application

Based on application, North America vacuum truck market is segmented into Industrial, Municipal, Excavation, and General Cleaning. Due to industrialization and urbanization growth, in-lined waste management projects, and growing adoption for sewage cleaning trucks across the region, the industrial segment dominates North America vacuum truck market. The municipal application segment, on the other hand, is expected to grow at the highest rate during the forecast period, as key manufacturers are focusing on customization of municipal trucks, as well as an emerging requirement for cleaning municipal waste products. In the coming years, the remaining sectors, such as excavation and general cleaning, are also expected to grow in value and volume in the market.

Impact of COVID-19 on North America Vacuum Truck Market

COVID-19 pandemic had a detrimental effect on North America truck business. Because of a severe lockdown and import-export prohibition on critical raw materials in 2020 and early 2021. Consequently, the availability of crucial raw materials for vehicle components diminished. Due to the interruptions in supply chains and manufacturing schedules caused by the COVID-19 pandemic, automotive production, component suppliers, revenues, and sales also suffered setbacks, negatively impacting North America vacuum truck market, resulting in a decline in volume unit sales/production and individual revenues in 2020 and 2021. However, consistent economic growth and expanding supply chain interactions would be the primary drivers for North America vacuum truck market during the post COVID-19 pandemic era.

Competitive Landscape

Major players operating in North America vacuum truck market include Federal Signal, Vac-Con, Kirkland & Ellis, GapVax, Cappellotto, Keith Huber, Sewer Equipment, Vacall Industries, KOKS, Fulongma group, Ledwell, Dongzheng, and Vactor Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product development.

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