Global Automotive Plastics Industry: Polypropylene to Remain Leading Contributor, says TMR

The global automotive plastics market is led by companies such as BASF SE, AkzoNobel N.V., Evonik Industries, Delphi Automotive plc, DIC Corporation, and Johnson Control Inc. Of these, BASF SE, Johnson Control Inc. and Evonik Industries hold a dominant collective share of 44.4% in the global automotive plastics market in 2011. Due to the rapid development of the automotive industry in emerging regions, acquisitions of regional players by multinational companies are expected to increase in the coming years, as this has emerged as a feasible strategy for most large players in order to expand their geographical reach and product catalog.

According to Transparency Market Research, the total volume of the global automotive plastics market is expected to reach 10,419.7 kilo tons by the end of 2016 and further rise to 12,482.1 by the end of 2018.

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Polypropylene to Retain Leading Share in Global Automotive Plastics Market

By product type, the global automotive plastics market is segmented into polypropylene, polyvinyl chloride, polyurethane, acrylonitrile butadiene styrene, polycarbonate, polyamide, polyethylene, and polymethyl methacrylate. Among these, polypropylene is the leading product segment of the global automotive plastics market and is expected to account for 37.5% of the global market by the end of 2018. Polyurethane is another leading segment of the market and is likely to account for 16.5% by the end of 2018.

By application, electrical components and automotive furnishings are the two leading segments of the global automotive plastics market and are expected to collectively account for 70.8% of the global market by the end of 2018.

Geographically, the global automotive plastics market is dominated by Asia Pacific, which is expected to account for 54.7% of the global market by the end of 2018. “Despite the firmly established presence of some of the automotive industry’s leading players, Europe’s share in the global automotive plastics market is expected to decline in the coming years due to the growing role of Asia Pacific. However, it is still likely to remain among the leading regional markets for automotive plastics,” said TMR’s lead analyst.

Increasing Demand for Cars Leads to Booming Production of Automotive Plastics

The most important driver for the global automotive plastics industry is the rising demand for cars in emerging economies. Due to the rising disposable income of consumers and the booming automotive manufacturing sector in countries such as China and India, the share of the Asia Pacific market for automotive plastics is likely to rise in the coming years.

Apart from the rising demand for cars, the increasing incorporation of automotive electronics in modern cars has also led to the need for automotive plastics. In addition, the weight reduction brought about by the use of plastics in place of conventionally used materials such as steel and aluminum has been of help for automotive industry players, as this has also made it easier for them to comply with environmental regulations restricting the amount of emissions from a vehicle.

Capital-intensive Nature of Automotive Plastics Manufacturing Restricts Market

The key restraint on the global automotive plastics market is the high initial investment required to establish operations in the industry. Due to the low weight and high strength required from automotive plastics, manufacturing them involves highly sophisticated procedures that also cost more than the manufacturing processes of conventional materials. The capital-intensive nature of the industry is further exacerbated by the volatility in the prices of the key raw materials used in the manufacture of automotive plastics.

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In the coming years, automotive plastics industry players are likely to focus on Asia Pacific due to the steady growth of the region’s automotive industry and the increasing demand for both low-cost passenger cars and premium cars.

The information in this preview comes from a Transparency Market Research report titled ‘Automotive Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018.’

The global automotive plastics market is segmented as follows:

Automotive Plastics Market: Product Segment Analysis
Acrylonitrile butadiene styrene (ABS)
Polypropylene (PP)
Polyurethane (PU)
Polyvinyl chloride (PVC)
Polyethylene (PE)
Polycarbonate (PC)
Polymethyl methacrylate (PMMA)
Polyamide (PA)
Others

Automotive Plastics Market: Application Segment Analysis
Power trains
Electrical components
Interior and exterior furnishings
Under the hood
Chassis
Others

Biodegradable Plastics in Automotives
Starch based
PLA based
PHA based
PCL based
PBS based

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