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The Role Of Automotive Industry Demand In Fueling Growth For Exterior Automotive Plastics Market: Critical Driver Shaping the Exterior Automotive Plastics Market in 2025
Exterior Automotive Plastics
Exterior Automotive Plastics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The exterior automotive plastics market has grown strongly in recent years. It is projected to increase from $12.7 billion in 2024 to $13.34 billion in 2025, reflecting a CAGR of 5.1%. Historic growth was linked to industrialization in livestock farming, improved animal health and productivity, feed ingredient price fluctuations, globalization of livestock production, nutritional awareness, and supportive regulations.
Exterior Automotive Plastics Market Size Forecast: What's the Projected Valuation by 2029?
A robust expansion is forecasted for the market of exterior automotive plastics in the years to come, with its valuation projected to reach $17.08 billion by 2029, marking a compound annual growth rate of 6.4%. The rise during the predicted time frame is on account of factors such as the increased requirement for aquaculture feed, substitutes for protein, escalating biosecurity concerns, the effects of global warming, and a surge in the demand for animal-derived protein. Key trends for the forecasted timeframe encompass advancements in technology for feed formulation, heightened focus on traceability and transparency, the incorporation of digital technology, innovations in the field of feed additives, and an emphasis on sustainable sourcing.
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What Are the Drivers Transforming the Exterior Automotive Plastics Market?
The growth of the exterior automotive plastics market is set to be fueled by the escalating demand from the automotive industry. This industry, which includes production and sales of different types of vehicles such as passenger cars, hybrid vehicles, and motorcycles, greatly relies on exterior automotive plastics. They are incorporated in many parts of a vehicle's exterior like body panels, bumpers, grilles, mirrors, and trim, offering more advantages in comparison to conventional materials like steel or aluminum, as they are not only lighter but also more robust and corrosion-resistant. The European Automobile Manufacturers Association, a Belgian trade association, reported in May 2023 that global motor vehicle production increased by 5.7% to 85.4 million in 2022 compared to 2021. This uptick in demand from the automotive sector is what bolsters the exterior automotive plastics market.
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What Long-Term Trends Will Define the Future of the Exterior Automotive Plastics Market?
A significant trend emerging in the exterior automotive plastics market is the shift towards sustainable products. Firms in this industry are provisionally utilizing eco-friendly products to maintain their market status. For example, AkzoNobel NV, a Dutch company specialized in paints, coatings, and specialty chemicals, unveiled a 2K solvent-borne primer specifically for automotive OEM exterior plastic parts in February 2024. This primer, available in conductive and dark grey, tackles the adherence issues that often occur with these components. The low surface energy and poor adhesion resulting from the reduced polarity of plastics like polypropylene present challenges when creating coatings for parts such as bumpers, rocker panels, and contrasting elements.
Which Segments in the Exterior Automotive Plastics Market Offer the Most Profit Potential?
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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Which Firms Dominate the Exterior Automotive Plastics Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential 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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