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Exterior Automotive Plastics Market Size, Share Estimation, Business Strategies, Opportunities And Forecast To 2032
Exterior Automotive Plastics Market Analysis
The Business Research Company's Exterior Automotive Plastics Global Market Report 2023 identifies rising demand from the automotive industry as the major driver for the exterior automotive plastics market's growth in the forecast period. The automotive industry refers to the industry that comprises of sales and production of various vehicles such as passenger vehicles, hybrid vehicles, and motorcycles. Exterior automotive plastics play a significant role in the automotive industry, as they are used in the production of many parts of a vehicle's exterior, including body panels, bumpers, grilles, mirrors, and trim, these plastics are often preferred over traditional materials, such as steel or aluminum because they are lighter, more durable, and more resistant to corrosion.
The global exterior automotive plastics market size is expected to grow from $11.25 billion in 2022 to $12.01 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global exterior automotive plastics market size is expected to reach $15.07 billion in 2027 at a CAGR of 5.8%.
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Major competitors in the exterior automotive plastics market are Arkema S.A., BASF SE, Borealis AG, DuPont de Nemours Inc., Royal DSM N.V., Evonic Industries AG, ExxonMobil Corporation.
A key trend in the exterior automotive plastics market includes adoption of sustainable products. Companies operating in the exterior automotive plastics market are adopting sustainable products to sustain their position in the market. For instance, in September 2021, SABIC, a Saudi Arabia-based company engaged in engineering thermoplastics for lighting components and the emerging automotive application introduced recycled automotive grades, the company's first automotive grades within the company's TRUCIRCLE portfolio of circular solutions and services. The new resins include XENOY T2NX2500UV resin, an unfilled, SABIC T2E-3320EH PP compound, a high-flow, low-emission, talc-filled polypropylene; UV-stabilized blend of polycarbonate and polyethylene terephthalate; and XENOY T2NX5230 resin, a mineral-filled PC/PET blend that is applicable in the automotive industry. These are sustainable and contain up to 29% recycled content that offers excellent performance, providing automotive customers with new options that can help them address their sustainability goals.
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The exterior automotive plastics market is segmented -
1) By Type: Thermoplastic polymers, Composites, Bioplastics
2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Other Vehicle Types
3) By Material: Polyurethane, Polycarbonate, Polypropylene, Polyethylene, Polyamide, Polyvinyl Chloride, Other Materials
4) By Application: Bumpers and Grills, Roof, Lights, Liftgate, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the exterior automotive plastics market.
The Business Research Company's "Global Exterior Automotive Plastics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Exterior Automotive Plastics Market Include:
1. Executive Summary
2. Exterior Automotive Plastics Market Characteristics
3. Exterior Automotive Plastics Market Trends And Strategies
4. Exterior Automotive Plastics Market - Macro Economic Scenario
5. Exterior Automotive Plastics Market Size And Growth
…….
26. Africa Exterior Automotive Plastics Market
27. Exterior Automotive Plastics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Exterior Automotive Plastics Market
29. Exterior Automotive Plastics Market Future Outlook and Potential Analysis
30. Appendix
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