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Key Trends Reshaping the Exterior Automotive Plastics Market: Rising Trend Of Sustainability In Exterior Automotive Plastics Industry Transformation
Exterior Automotive Plastics
Exterior Automotive Plastics Market Size Growth Forecast: What to Expect by 2025?
The market size of exterior automotive plastics has seen a substantial increase over the recent past. The market, which stood at $12.7 billion in 2024, is projected to rise to $13.47 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. This significant growth during the historical period is due to factors such as the mechanization of livestock farming, animal health and productivity, variations in the pricing of feed ingredients, the globalization of livestock production, heightened awareness about nutrition, and supportive regulations.
How Will the Exterior Automotive Plastics Market Size Evolve and Grow by 2029?
Expectations are high for the robust expansion of the exterior automotive plastics market in the forthcoming years. The market is estimated to reach a valuation of "$17.38 billion by 2029, escalating at a Compound Annual Growth Rate (CAGR) of 6.6%. Factors propelling this growth through the predicted period include an increased need for aquaculture feed, substitutes for protein sources, concerns over biosecurity, effects of climate change, and a heightened demand for animal protein. Noteworthy trends for the predicative period encompass advancements in feed formulation technology, traceability and transparency, the incorporation of digital technologies, revolutionary feed additives, and procurement of resources sustainably.
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What Drivers Are Propelling the Growth of Exterior Automotive Plastics Market Forward?
The upward trend in demand from the automotive industry is anticipated to fuel the exterior automotive plastics market's growth. The automotive sector envelops the manufacturing and sales of different vehicles, such as hybrid cars, passenger vehicles, and motorcycles. Exterior automotive plastics, which are employed for creating various exterior parts of a vehicle like bumpers, grilles, body panels, trim, and mirrors, are crucial to the automotive industry. They tend to be favored over conventional materials like aluminum or steel, primarily due to their lightness, durability, and superior resistance to corrosion. For example, in May 2023, stats from the Belgium-based European Automobile Manufacturers Association indicated a worldwide production of around 85.4 million motor vehicles in 2022, marking an increase of 5.7% from the previous year, 2021. Hence, this escalating demand from the automotive industry is propelling the market for exterior automotive plastics.
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Which Emerging Trends Are Transforming the Exterior Automotive Plastics Market in 2025?
One prominent trend in the exterior automotive plastics market is the increasing utilization of sustainable products. To maintain their competitive standing, companies in this sector are turning to environmentally friendly products. For example, in February 2024, AkzoNobel NV, a Netherlands-based enterprise specializing in paints, coatings, and specialty chemicals, introduced a 2K solvent-borne primer that's tailored towards automotive OEM exterior plastic components. This product is unique due to its conductive and dark grey design, and it addresses the adhesive challenges often encountered by clients. Plastics like polypropylene possess a low polarity that contributes to low surface energy and inadequate adhesion, making the coating procedures of parts like bumpers, rocker panels, and contrasting features more complex.
What Are the Key Segments in the Exterior Automotive Plastics Market?
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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Who Are the Key Players Shaping the Exterior Automotive Plastics Market's Competitive Landscape?
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.
What Geographic Markets Are Powering Growth in the Exterior Automotive Plastics Market?
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
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