Automotive Plastics Market Size Valued at US$ 22.77 Billion in 2022, Forecasted to Grow at 7.9% CAGR through 2029

13.09.2023 : Automotive Plastics Market Report Scope and Research Methodology

The global automotive plastics market has demonstrated impressive growth, reaching a valuation of US$ 22.77 billion in 2022. With a projected Compound Annual Growth Rate (CAGR) of 7.9% from 2022 to 2029, the market is anticipated to surge to nearly US$ 38.77 billion. This growth is attributed to the increasing demand for affordable, lightweight, and fuel-efficient vehicles, driven by the pivotal role of plastics in automotive design.

The report provides a comprehensive overview of the market, analyzing key segments including Product Type, Application, and Region. Data is sourced from market players, regional trends, and specific industry requirements. The study incorporates statistics, infographics, and presentations for impactful data analysis. It delves into the drivers, restraints, opportunities, and challenges in the Automotive Plastics market, offering insights into market growth catalysts.

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What are Automotive Plastics Market Dynamics?

Market Drivers: The adoption of plastics over metals in automotive component manufacturing is a significant driver for the growth of the Automotive Plastics Market. Environmental and economic concerns have led to an increased focus on using plastics to produce more fuel-efficient vehicles. Polymers provide substantial weight reductions, enabling improved fuel efficiency and investment in advanced, durable polymers for specific components.

Market Restraints: One of the key challenges facing the market is the high capital and infrastructure costs associated with plastics re-engineering. Manufacturers may face obstacles in terms of recycling awareness, infrastructure, and understanding of the recyclability of specific plastic types used in component design. Technological advancements and infrastructure development are essential to overcome this restraint.

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What is Automotive Plastics Market Segmentation?

In 2022, the PP sector had the largest market share in terms of product type. Polypropene is also known as polypropylene (PP). A thermoplastic polymer that can be easily molded into practically any shape is polypropylene. In passenger cars, polypropylene is frequently used for a range of interior, exterior, and underbody components. Engineers choose polypropylene over other plastics because it is a commodity material and is less expensive than other engineered polymers. Engineers frequently employ polypropylene to meet the requirements for low-cost vehicle design. These factors are responsible for PP's sizeable market share in the automotive plastics industry for passenger cars.

Flexibility, thermal stability, flame retardancy, and exceptionally low lead contents are all characteristics of PVC segment that are well-known. According to the kind and quantity of plasticizers employed,To create a variety of stiff or flexible plastic items, they can be blow molded, compressed molded, or injected. Automobile doors, electrical wire wrapping, and instrument panels are made with it.

by Product Type

Polypropylene
Polyurethanes
Polyvinyl Chloride
Acrylonitrile butadiene styrene
High-density polyethylene
Polycarbonates
Polymethyl methacrylate
Polyamide
Polyethylene terephthalate

by Application

Exterior
Interior
Under Bonnet

by End-Use

Conventional Vehicles
Electric Vehicles

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Who are Automotive Plastics Market Key Players?

1. AkzoNobel N.V
2. BASF SE
3. Covestro
4. Evonik Industries AG
5. Johnson Controls
6. Magna International
7. Momentive Performance Materials Inc.
8. SABIC
9. The Dow Chemical Company
10.Borealis AG
11.Hanwha Azdel Inc.
12.Grupo Antolin
13.Lear Corp.
14.Owens Corning
15.Quadrant AG
16.Royal DSM N.V
17.Teijin Ltd
18.Compagnie Plastic
19.Zoltek Companies Inc.
20.DSM Engineering Plastics B.V.
21.EXXON Mobile
22.Arkema

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Table of content for the Automotive Plastics Market includes:

Part 01: Executive Summary

Part 02: Scope of the Automotive Plastics Market Report

Part 03: Global Automotive Plastics Market Landscape

Part 04: Global Automotive Plastics Market Sizing

Part 05: Global Automotive Plastics Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Regional Insights:

Asia-Pacific: The Asia-Pacific region is poised for significant growth, driven by increased vehicle production, rising disposable income, and a preference for compact, fuel-efficient cars. China, with its large population and high demand for new automobiles, is a major contributor to the growth of the automotive plastics market in the region.

North America: The market in North America is expected to exceed USD xx billion by the end of 2029. Manufacturers in the region are increasingly focused on lightweight vehicle designs to meet consumer demand for fuel-efficient cars. Stricter fuel efficiency standards are also encouraging the production of lighter vehicle models.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic
perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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