Automotive Plastics Market 2021-2027 with Growth Factors and Trends with Focusing Key players like Magna International, Inc., Momentive Performance Materials, Inc., and More...

Automotive Plastics Market

Automotive plastics play a vital role in the automotive sector, particularly in the manufacturing of technologically advanced and cost-efficient products with high safety and performance for modern cars, minivans, SUVs, and MUVs. The growing preference for high-performance plastics over conventional metals and rubber is projected to propel the market growth. The superior properties of plastics, such as flexibility and versatility, drive innovation in terms of technology and design. Around 13 types of high-performance plastics are used in automotive hardware, wherein three types of plastics make up approximately 66% of the total high-performance plastics used in a car: polypropylene (32%), PVC (16%), and polyurethane (17%). Around 50% of all interior components of an automobile – including safety subsystem and door and seat assemblies – are made up of plastics.

The Major Players Covered in this Report:
Magna International, Inc., Momentive Performance Materials, Inc., Covestro AG, Owens Corning; Quadrant AG; Royal DSM N.V., SABIC, The Dow Chemical Company; AkzoNobel N.V., BASF SE, Johnson Controls International PLC, Borealis AG, Hanwha Azdel, Inc., Grupo Antolin, Lear Corp., and Teijin Ltd. 

In 2020, the global Automotive Plastics market size was million US$ and it is expected to reach a million US$ by the end of 2026, with a CAGR between 2021 and 2026.

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By Product Type, Polypropylene, Polyurethane, Polyvinyl chloride, Acrylonitrile Butadiene Styrene, Others

By Application, Interior, Exterior, Under Bonnet

Segmentation Insights

Polypropylene, polyurethane, polyvinyl chloride, and Acrylonitrile Butadiene Styrene are the noteworthy automotive plastics currently in use. The polypropylene segment holds the largest market share at present, followed by polyamide, owing to the low cost of polypropylene and its high mechanical performance, including resistance to different chemical solvents, bases and acids, and moldability. Additionally, polypropylene is used in automotive bumpers, cable insulation, chemical tanks, gas cans, and carpet fibers. The polyamide segment is also expected to witness considerable growth, owing to the high usage of this polymer in airbag containers, engine covers, and different electronic components in passenger cars.

The key applications of automotive plastics can be classified as interior, exterior, and under bonnet. The interior segment is expected to witness significant growth as around 50% of automotive interior parts are made of plastics, including door panels and instrumental panels, as plastics provide good surface finish, aesthetic appeal, and scratch resistance.

Regional Analysis For Automotive Plastics Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Automotive Plastics are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Automotive Plastics in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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