IMARC Group has recently released a new research study titled, “Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the automotive plastics market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Automotive Plastics Overview:
The global automotive plastics industry 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.
What are automotive plastics?
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.
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Automotive Plastics Industry’s 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.
Report Segmentation:
The report has segmented the market on the basis of 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)
- Polyamide
- Others
Breakup by Application:
- Powertrain
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under the Hood
- Chassis
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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Who are the major players in the automotive plastics market?
List of Major Key Players:
- 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
- Teijin Limited.
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.
Browse Our Other Related Reports:
- Smart Mobility Market: https://bit.ly/3iawycE
- Flexible Foam Market: https://bit.ly/3VINx3D
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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