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Exterior Automotive Plastics Market: In-Depth Analysis Of Industry Share, Size, Growth And Outlook Up To 2033
Exterior Automotive Plastics Market
The Business Research Company offers in-depth market insights through Exterior Automotive Plastics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The exterior automotive plastics market size has grown strongly in recent years. It will grow from $12.01 billion in 2023 to $12.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to industrialization of livestock farming, animal health and productivity, fluctuations in feed ingredient prices, globalization of livestock production, nutritional awareness, regulatory support, .
The exterior automotive plastics market size is expected to see strong growth in the next few years. It will grow to $16.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising demand for aquaculture feed, alternative protein sources, biosecurity concerns, impact of climate change, growing demand for animal protein.. Major trends in the forecast period include technological advancements in feed formulation, traceability and transparency, integration of digital technologies, innovations in feed additives, sustainable sourcing..
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Market Segmentation:
The exterior automotive plastics market covered in this report 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
Major Driver - The Role Of Automotive Industry Demand In Fueling Growth For Exterior Automotive Plastics Market
Rising demand from the automotive industry is expected to propel the growth of the exterior automotive plastics market going forward. 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. For instance, in April 2023, Statistics Canada, a Canada-based government agency, the total number of road motor vehicles registered in Canada increased by 1.9% from 2020 with 26.2 million in 2021. Further, in June 2021, according to the report published by OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association for vehicles, global passenger car sales increased from 53.91 million in 2020 to 56.39 million in 2021. Therefore, the rising demand from the automotive industry drives the exterior automotive plastics market.
Competitive Landscape:
Major companies operating in the exterior automotive plastics market report are Arkema S.A., BASF SE, Borealis AG, DuPont de Nemours Inc., Royal DSM N.V., Evonic Industries AG, ExxonMobil Corporation, Lanxess, LyondellBasell Industries N.V., Convestro AG, Saudi Arabia's Basic Industries Corporation, Celanese Corporation, Salem Industrial Plastics, Lear Corporation, Magna International Inc., Trinseo S.A., Adient plc, Flex-N-Gate Corporation, Solvay S.A., Teijin Limited, DSM Engineering Plastics, LG Chem Ltd., Kuraray Co. Ltd., Toyoda Gosei Co. Ltd., Sumitomo Chemical Company Limited, Asahi Kasei Corporation, Kautex Textron GmbH & Co. KG, Ravago Group, Plastic Omnium Group, Hanwha Advanced Materials Corp.
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Top Trend - Companies Embrace Recycled Automotive Grades In The Exterior Automotive Plastics Market
The adoption of sustainable products is a key trend gaining popularity in the exterior automotive plastics market. 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.
The Table Of Content For The Market Report 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
…..
27. Exterior Automotive Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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