Strong Growth Expected in China's Automotive Plastics Market
July 30, 2001, Detroit, MI – Consumption of thermoplastic and thermoset compounds in China’s automotive marketplace is estimated at roughly 330 KMT in 2000, and is projected to grow to 815 KMT in 10 years, according to a new study published by BRG Townsend, Inc. The report, “AUTOMOTIVE MARKET IN CHINA – FOCUS ON PLASTICS,” profiles the automotive industry in China and provides a detailed view of the major trends on the consumption of plastics in this growing marketplace.
As China’s economy continues to grow at near double-digit rates and people aspire to adopt western life styles, automobiles likely will replace bicycles as the principal mode of transportation. Chinese producers are positioning themselves to capture a share of the expected value. However, the extent and timing of this step-change remain major question marks, dependant as much by political and external factors as by potential consumer demand.
- The Chinese government’s tenth five-year plan calls for the output of vehicles to reach 3.2 million by 2005. The growth rate for sedans alone is expected to be 12.7% AAGR.
- Raw material suppliers are setting up joint venture and wholly-owned compounding operations, although imported resins and resin compounds still predominate in many automotive uses.
- Domestic producers continue to form new joint ventures with both multinational tier suppliers and OEM car companies at a dizzying rate.
This timely study, addressing these and other issues facing suppliers to the automotive market in China is now available at $5,500. To order your copy or to request more information, please call Abbe Scheiner, Director of Sales & Marketing, at 973-347-5300 or by email to ascheiner@brgtownsend.com.
BRG Townsend, Inc. is a global management consulting firm focused on providing research based solutions that direct business decisions. Bringing over 50 years of experience serving the global plastics, chemicals, pulp & paper, and related materials industries, BRG’s proven methodologies, objectivity & insights, responsiveness, and a culture of strictly safeguarding proprietary client information allow the delivery of exceptional value to clients.