Brazil, Russia, India and China (BRIC), as a collective region, have been witnessing surplus growth in their automotive plastics market. With India and China being leading countries in global automobile production, the demand for automotive plastics discerns to be higher in BRIC region. Manufacturers of cars and other vehicles continue to buy plastic products and raw materials from distribution channels such as original equipment manufacturers (OEMs) and aftermarket businesses. According a report compiled by Future Market Insights (FMI), OEMs will be the dominant distribution channel, recording highest number of automotive plastics sales through 2020. FMI’s report also predicts that OEMs will be among the largest segment in the global market for automotive plastics, consumption of which is anticipated to grow at steadfast rate.
Automotive plastics consumption in BRIC region indicates that OEMs are considered as a suitable distribution outlet by industry players. Manufacturers and chemical industries producing automotive plastics will continue to deliver towards the demand garnered from OEMs. One crucial factor promoting the automotive plastics sales through OEMs is the commitment to quality of products. OEMs are established distribution channels, ensuring that products, materials or equipment parts manufactured and sold by them must endure high quality. Performance of automotive plastics distributed through OEMs is likely to be compliant with consumer’s or end-user’s requirements. Support provided by the staff at OEMs is also boosting consumers’ faith in them. Shipping delays are aptly notified beforehand, which helps the end-users to reschedule further processes without risking the chances of last minute hassle. Longevity of OEM parts works as an additional proponent for fostering automotive plastics consumption from OEMs. Warranty and investments backing OEMs are some other factors bolstering the automotive plastics sales through this distribution channel.
In the BRIC market for automotive plastics, OEMs are expected to face a hurtling competition by the aftermarket businesses segment. By 2020, the aftermarket distribution channels will have expanded at a double-digit CAGR, fuelling the growth in total automotive plastics sales in BRIC region. Avail a free sample of FMI’s report at www.futuremarketinsights.com/reports/sample/rep-br-81.