Automotive Plastics Market Growth, Size, COVID-19 Overview, Top Companies Strategy and Prediction 2029

The Global Automotive Plastics Market achieved a value of US$ 22.77 billion in 2022, and it is poised for a robust growth, with an anticipated 7.9% CAGR from 2022 to 2029, reaching an impressive US$ 38.77 billion in total revenue.

Report Scope and Methodology:

Report Scope

The comprehensive Global Automotive Plastics Market report presents a comprehensive analysis of market dynamics, including drivers, restraints, opportunities, and challenges. It encompasses an in-depth exploration of market segments (Product Type, Application, and Region) and provides data-driven insights from market players, regions, and specific requirements.
Research Methodology

Our research methodology adheres to the highest industry standards, utilizing both qualitative and quantitative techniques to offer an unbiased and precise assessment of the Global Automotive Plastics Market.

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What are Automotive Plastics Market Dynamics ?

Drivers

Lightweight Revolution: Plastics have emerged as a key driver in the automotive industry, where the quest for more affordable, lightweight, and fuel-efficient vehicles is ever-present. The role of plastic in designing and manufacturing automobiles aligns with changing consumer preferences, making it a pivotal component in the industry.

Fuel Efficiency Focus: The growing importance of fuel efficiency, prompted by rising fuel prices and stringent environmental regulations, propels the use of plastics in vehicle design. A 10% reduction in vehicle weight can result in a 6 to 8% reduction in fuel consumption.

Rising Demand in Emerging Markets: The increasing demand for automobiles and rising disposable income in emerging economies continue to drive the adoption of plastics in the automotive sector.

Restraints

Recycling Challenges: High capital and infrastructure costs, coupled with a lack of understanding about the recyclability of specific plastics, pose challenges to the recycling and re-engineering of automotive plastics.

Raw Material Costs: The high cost of raw materials, along with the non-degradable nature of automotive plastics, presents a threat to market growth.

What is Automotive Plastics Market Segmentation ?

by Product Type

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

Polypropylene is a thermoplastic polymer that can be easily molded into almost any shape. Polypropylene is widely utilized in passenger automobiles for a variety of purposes including interior, exterior, and underbody components. Polypropylene, being a commodity plastic is less expensive than other engineered plastics and therefore preferred by engineers over other plastics.
by Application

Exterior
Interior
Under Bonnet

By application, the interior application segment of the automotive plastics market for passenger automobiles will be driven by demand for comfort features. The interior application dominates the market because plastics are increasingly being utilized in these applications to offer impact resistance and dimensional stability.

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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
23.Johnson Controls
24.Bayer Material Science AG
25.China National Offshore Oil Corporation
26.Mitsubishi Chemical Holdings Corp.
27.National Petrochemical Company
28.Grupa Azoty S.A

Table of content for the Automotive Plastics Market includes:

Part 01: Executive Summary

Part 02: Scope of the Automotive Plastics Market Report

Part 03: Automotive Plastics Market Landscape

Part 04: Automotive Plastics Market Sizing

Part 05: 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

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Automotive Plastics Market Regional Insights:

Asia-Pacific dominates the Global Automotive Plastics Market, driven by rapid economic growth, increased vehicle production, and government initiatives. China, with its substantial manufacturing and consumer base, is a major player in the Asia-Pacific region.

North America is experiencing a surge in automotive plastics demand, fueled by the need to manufacture lightweight vehicles in response to growing consumer demand for fuel-efficient cars. The United States, in particular, is expected to witness a 6.9% growth in the automotive plastics market.

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