Press release
Key Trends Shaping the Future Exterior Automotive Plastics Market From 2025-2034: Rising Trend Of Sustainability In Exterior Automotive Plastics
Exterior Automotive Plastics Market Size
The exterior automotive plastics market is predicted to expand due to increasing needs from the automotive sector. The automotive sector includes the production and sale of a wide variety of vehicles including passenger vehicles, hybrid vehicles and motorbikes. Exterior automotive plastics are critical in this sector as they are utilized in the production of several exterior vehicle parts such as body panels, bumpers, grilles, mirrors and trims. These plastics are often favoured over traditional materials such as steel or aluminium due to their lighter weight, enhanced durability and superior resistance to corrosion. In May 2023, the Belgium-based European Automobile Manufacturers Association reported that there was a 5.7% rise in the production of motor vehicles worldwide from 2021, with around 85.4 million vehicles produced in 2022. As a result, the burgeoning demands from the automotive sector stimulate the growth of the exterior automotive plastics market.
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What is the future CAGR of the exterior automotive plastics market, and how will it impact industry expansion?
There has been significant growth in the size of the exterior automotive plastics market in the last few years. The market which was valued at $12.7 billion in 2024, is projected to escalate to $13.47 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. The historical growth period was influenced by factors such as livestock farming industrialization, improvements in animal health and productivity, changes in feed ingredient prices, the worldwide spread of livestock production, heightened nutritional awareness, and regulatory assistance.
The market size of exterior automotive plastics is predicted to experience robust growth in the upcoming years. It is projected to reach $17.38 billion by 2029, with a compound annual growth rate (CAGR) of 6.6%. This growth during the prediction period can be credited to the increasing demand for aquaculture feed, alternative sources of protein, biosecurity issues, climate change effects, and the escalating demand for animal-based protein. Major trends to look forward to during the forecast period include advancements in feed formulation technology, improved traceability and transparency, digital technology integration, innovative feed additives, and sustainable sourcing methods.
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What are the most significant trends transforming the exterior automotive plastics market today?
Rising acceptance of eco-friendly products is a prominent trend surfacing in the field of exterior automotive plastics. To preserve their market standing, many companies in this industry are gravitating towards more sustainable solutions. For instance, in February 2024, AkzoNobel NV, a company from the Netherlands known for their paints, coatings, and specialty chemical offerings, introduced a 2K solvent-borne primer in conductive and dark grey. This new offering has been tailor-made for automotive OEM exterior plastic elements, which can traditionally create adhesion issues for customers. The problem arises from the low surface energy and insufficient adhesion associated with low polarity plastics like polypropylene, making the coating process for parts such as bumpers, rocker panels, and contrasting features a unique challenge.
Which key market segments comprise the exterior automotive plastics market and drive its revenue growth?
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
Subsegments:
1) By Thermoplastic Polymers: Polypropylene (PP), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyamide (Nylon)
2) By Composites: Glass Fiber Reinforced Plastics (GFRP), Carbon Fiber Reinforced Plastics (CFRP), Natural Fiber Reinforced Plastics
3) By Bioplastics: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Plastics
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What regions are at the forefront of exterior automotive plastics market expansion?
Asia-Pacific was the largest region in the exterior automotive plastics market in 2024. The regions covered in the exterior automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the exterior automotive plastics market?
Major companies operating in the exterior automotive plastics market include 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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What Is Covered In The Exterior Automotive Plastics Global Market Report?
• Market Size Forecast: Examine the exterior automotive plastics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the exterior automotive plastics market for a structured understanding.
• Key Players Overview: Analyze major players in the exterior automotive plastics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the exterior automotive plastics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the exterior automotive plastics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the exterior automotive plastics market.
• Industry Challenges: Identify potential risks and obstacles affecting the exterior automotive plastics market.
• Competitive Landscape: Review strategic developments in the exterior automotive plastics market, including expansions, agreements, and new product launches.
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