According to the latest report by IMARC Group, titled “Global Automotive Plastics Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global automotive plastics market reached a value of US$ 38.7 Billion in 2021.
Looking forward, IMARC Group expects the market to reach a value of US$ 51.65 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027.
Automotive plastics include polypropylene (PP), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM), polyurethane (PU), polyvinyl chloride (PVC), and polycarbonate (PC). These plastics aid in extending the life of automobiles, reducing manufacturing costs, increasing design flexibility, easing integration of components, etc. Automotive plastics also assist in reducing the weight of vehicles by replacing heavy materials, such as glass and metal, to save energy and improve fuel efficiency. As a result, they find widespread applications in powertrains, electrical components, interior and exterior furnishings, chassis, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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|Base Year: 2021|
|Forecast Year: 2022-2027|
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Asahi Kasei Corporation, BASF SE, Borealis AG, Covestro AG, Dow Inc., Koninklijke DSM N.V., Lanxess AG, Lear Corporation, LyondellBasell Industries N.V., Saudi Basic Industries Corporation, Solvay S.A and Teijin Limited.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Automotive Plastics Market Trends and Drivers:
The escalating popularity of electric and hybrid vehicles across countries is primarily driving the automotive plastics market. Besides this, the elevating utilization of these materials in the production of carpet fibers, wheel covers, suspension bushings, dashboards, headlamp lenses, fuel tanks, truck bed liners, mud flaps, bumpers, gears, etc., is further augmenting the market growth.
Apart from this, the growing demand for synthetic coatings on metal surfaces to minimize the risk of corrosion caused by high heat, salt damage, and water exposure is also catalyzing the global market. Moreover, the expanding technological advancements and the rising number of research and development (R&D) activities financed by automobile manufacturers are positively influencing the product demand.
Furthermore, the leading players are relying on bio-based plastics and polymers instead of fossil-based plastics to promote sustainability and reduce their carbon footprint, which is anticipated to bolster the automotive plastics market in the coming years.
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Global Automotive Plastics Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis of region, vehicle type, material and application.
Breakup by Vehicle Type:
- Conventional and Traditional Vehicles
- Electric Vehicles
Breakup by Material:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyurethane (PU)
- Polymethyl Methacrylate (PMMA)
- Polycarbonate (PC)
Breakup by Application:
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under the Hood
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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