Spurred by rising disposable incomes and continuously changing lifestyles, the increasing production of cars and commercial vehicles will grow the global automotive plastic market at a CAGR of 11.91% from now until 2023, the new report from Research and Market said.
The drop in spending is directly related to reduced launches from the Detroit Three automakers, the new report from market research firm Harbour Results says.
Engel is forecasting a six per cent increase in earnings over last year, with Germany representing the “lion’s share” of the sales.
The German processing machinery maker is also expanding its business model as well as digital services and products, and introducing a new speed-to-market program for European customers.
But auto sales in the U.S. jumped to an annualised level of more than 17 million units in September, Scotiabank said, beating expectations.
Growth will be led by the rising adoption of PET packaging, the report from market research firm Technavio says.
For the fifth consecutive quarter, plastics machinery shipments in North America continued to increase in the second quarter of 2018, according to the statistics compiled and reported by the Plastics Industry Association’s Committee on Equipment Statistics.
Auto sales growth has also slowed down markedly in the U.S. and Mexico, a new report from Scotiabank says.
Adoption of composite-grade HPPs could take the global market past US$3 billion by 2024, a new study by Frost & Sullivan says.
Trade policy uncertainty is causing pessimism across the automotive supply base, despite a strong sales and production environment, a new survey conducted by the Original Equipment Suppliers Association says.
Rising demand across several vertical industries, such as packaging and food and beverages, is expected to drive growth, the new report from BCC Research says.
The Canadian automotive parts maker – which has manufacturing operations in all three NAFTA countries, China and throughout Europe – reduced its estimate for total sales in 2018 by 1.4 per cent from its previous outlook.
The drop was led by poor Fiat-Chrysler sales, which recorded their worst month since early-2014.
But cracks are beginning to appear in certain emerging economies, a new report from Scotiabank says, and the threat of rising U.S. protectionism seems to have impacted vehicle sales in China.
Record sales driven by nine per cent consumables growth highlights a solid second quarter, the company said.
According to the Q2 2018 Automotive Tooling Barometer, both die and mold shops in North America experienced a decrease in utilization from Q1 2018 to Q2 2018, with a significant amount of business being pushed to the second half of the year.
The preliminary estimate of shipments of primary plastics equipment (injection molding and extrusion) for reporting companies totaled US$333 million in the first quarter – 15 per cent higher than the total US$290 million in Q1 of 2017.
Propelled partly by demand for drainage bags, the market for medical fluid bags is set to surpass US$4.4 billion by 2024, according to research from Global Market Insights
But sales in the U.S. continue to beat expectations on the back of strength in trucks, Scotiabank’s new report says.
Charges for many imported vehicles will be cut from 25 per cent to 15 per cent, the country’s Finance Ministry said.