Press release
Automotive Plastic Market Size Worth USD 78.19 Billion 2032| CAGR of 10.7%
In 2022, the global automotive plastic market had a size of USD 31.32 Billion. It is projected to reach USD 78.19 Billion by 2032, with a revenue CAGR of 10.7% during the forecast period. The increasing demand for lightweight vehicles is a key driver of market growth. Automotive plastic is used to reduce the weight of vehicle parts, resulting in better fuel efficiency and reduced carbon emissions. As a result, the automotive industry is seeing a significant demand for lightweight materials, which is driving demand for automotive plastics.
The shift toward electric vehicles is also boosting the demand for automotive plastics since they are essential for electric vehicle batteries and charging infrastructure. Automotive plastics are utilized in battery casings, connections, and other components due to their lightweight and excellent insulating properties. The growing demand for automotive plastics is expected to propel the market's revenue growth.
Automotive Plastic Market Segments:
The market's growth is driven by several factors, including the increasing demand for lightweight vehicles. Automotive plastic is utilized in parts to reduce vehicle weight, leading to improved fuel efficiency and lower carbon emissions. This trend has resulted in a high demand for lightweight materials in the automotive industry, which is driving the demand for automotive plastics.
The shift toward electric vehicles is another significant driver of market growth. Automotive plastics are essential for electric vehicle batteries and charging infrastructure, which is driving demand for these materials. They are utilized in battery casings, connections, and other parts due to their lightweight and excellent insulating properties. The growing demand for electric vehicles is expected to further increase the demand for automotive plastics in the coming years.
The report coverage for the global automotive plastic market includes revenue forecasts, company ranking, competitive landscape, growth factors, and trends. The segments covered in the report include Product Type Outlook, Application Outlook, and Regional Outlook. With the historical data from 2020-2021 and the base year for estimation set at 2022, the forecast period for the global automotive plastic market is from 2022-2032. The quantitative units for this period are revenue in USD Billion.
Access Full Report Description with Research Methodology and Table of Content: https://www.reportsanddata.com/report-detail/automotive-plastic-market
Automotive Plastic Market: Strategic Developments
A memorandum of understanding was signed by Sabic and Plastic Energy, a British recycling company, in 2021 to construct a commercial plant in the Netherlands that will manufacture recycled polycarbonate plastics from mixed plastic waste. The objective of this partnership is to address the issue of plastic waste by establishing a circular economy for plastic.
In 2020, BASF SE and Toyota Motor Europe collaborated to supply BASF's Ultramid nylon resin for Toyota's most recent hybrid vehicles. The use of Ultramid resin in Toyota's vehicles reduces the weight of the car and enhances fuel efficiency.
Dow Inc. declared in 2020 that it had formed a collaboration with UPM Biofuels to create renewable plastics. The partnership's goal is to generate plastics from renewable raw materials, resulting in a decrease in the carbon footprint of plastic production.
LG Chem Ltd. announced in 2019 that it would invest $391 million in expanding its electric vehicle (EV) battery plant in China. The investment aims to reinforce LG Chem's position in the EV battery market and meet the rising demand for electric vehicles in China.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @https://www.reportsanddata.com/download-free-sample/1685
Automotive Plastic Market: Competitive landscape
The global automotive plastic market is highly competitive, with numerous companies vying for a larger share of the market. Some of the leading players in the market include BASF SE, Dow Inc., LG Chem Ltd., Magna International Inc., Solvay S.A., Teijin Limited, Trinseo S.A., Lanxess AG, Sumitomo Chemical Co., Ltd., and Sabic. These companies are continuously innovating and investing in research and development to expand their product portfolios and stay ahead of the competition.
BASF SE is a prominent player in the automotive plastic market and is focused on developing sustainable solutions for the industry. The company has developed several innovative products such as Ultramid and Ultradur, which are used in various automotive applications to improve fuel efficiency and reduce emissions.
Dow Inc. is another major player in the automotive plastic market, and it has partnered with various companies to develop sustainable solutions for the industry. The company has collaborated with UPM Biofuels to produce renewable plastics from raw materials such as tall oil, a byproduct of the paper-making process.
LG Chem Ltd. is a leading supplier of electric vehicle batteries and has invested heavily in expanding its production capabilities to meet the growing demand for electric vehicles. The company is also focusing on developing new materials and technologies to improve the performance and durability of EV batteries.
Other significant players in the market include Magna International Inc., which specializes in developing lightweight components and systems for the automotive industry, and Sabic, which is a major producer of engineering plastics and resins for various applications, including automotive.
Overall, the automotive plastic market is highly competitive, with numerous players vying for a larger share of the market. The key players are investing heavily in research and development to develop sustainable and innovative solutions for the industry.
Browse more Reports:
Intumescent coatings market: https://www.marketwatch.com/press-release/intumescent-coatings-market-will-reach-usd-13345-million-by-2028-2023-04-19?mod=search_headline
linear low density polyethylene lldpe market: https://www.marketwatch.com/press-release/linear-low-density-polyethylene-lldpe-market-expected-to-reach-usd-8595-billion-by-2028-2023-04-19?mod=search_headline
heat stabilizers market: https://www.marketwatch.com/press-release/heat-stabilizers-market-is-expected-to-reach-usd-56661-million-by-2028-2023-04-19?mod=search_headline
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Plastic Market Size Worth USD 78.19 Billion 2032| CAGR of 10.7% here
News-ID: 3045780 • Views: …
More Releases from Reports And Data
Hybrid work models and workplace wellness initiatives increase demand for contem …
NEW YORK, June 11, 2026 - The global Contemporary Height-Adjustable Desk market is expected to grow from USD 8.74 Billion in 2025 to USD 15.92 Billion by 2035, at a revenue CAGR of 6.2% during the forecast period. Demand for ergonomic workplace solutions continues to increase as organizations adopt hybrid work arrangements and prioritize employee well-being. Businesses and home-office users are investing in furniture designed to support movement throughout the…
Expanding laboratory automation and growing demand for high-throughput testing i …
NEW YORK, June 11, 2026 - The global Microplate Readers market is expected to grow from USD 1.21 Billion in 2025 to USD 2.06 Billion by 2035, at a revenue CAGR of 5.5% during the forecast period. Increasing demand for high-throughput screening, molecular diagnostics, and life science research is driving adoption of microplate reader systems across laboratories worldwide. Pharmaceutical companies, academic institutions, and clinical laboratories are investing in automated analytical…
Rising consumer focus on wellness and home-based relaxation solutions drives dem …
NEW YORK, June 11, 2026 - The global Massage Chair market is expected to grow from USD 5.43 Billion in 2025 to USD 9.82 Billion by 2035, at a revenue CAGR of 6.1% during the forecast period. Growing awareness of physical wellness, stress management, and recovery therapies is increasing demand for massage chairs in residential and commercial settings. Consumers are seeking convenient wellness solutions that can be integrated into daily…
Growing creator economy and enterprise video content demand accelerate adoption …
The global Video Editing Software market was valued at USD 4.83 Billion in 2025 and is expected to reach USD 11.92 Billion by 2035. Demand for video editing software is increasing as businesses, content creators, media companies, and educational institutions expand digital content production activities. Rising consumption of online video content and growing adoption of social media marketing strategies are supporting market growth. According to the International Telecommunication Union (ITU),…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Automotive Electronics Market 2026-Bosch Group, Atmel Corporation, Delphi Automo …
Market Overview:-
The global Automotive electronics market generated USD 226.5 billion in 2017 and is anticipated to grow at a CAGR of 9.1% during the forecast period according to a new study published by Polaris Market Research.
Request for sample copy of this report @ https://www.polarismarketresearch.com/industry-analysis/automotive-electronics-market/request-for-free-sample
Automotive electronics are specially-designed electronics intended for use in automobiles. Automotive electronics includes devices that have been designed and adapted for use in automobile applications…
