Automotive Plastics Market 2022-2027, Size, Share, Growth, Report and Analysis

Automotive Plastics Market Overview:

The latest research study “Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive plastics market size reached a value of US$ 38.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 51.65 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027.

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Automotive plastics include polypropylene (PP), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM), polyurethane (PU), polyvinyl chloride (PVC), and polycarbonate (PC). These plastics aid in extending the life of automobiles, reducing manufacturing costs, increasing design flexibility, easing integration of components, etc. Automotive plastics also assist in reducing the weight of vehicles by replacing heavy materials, such as glass and metal, to save energy and improve fuel efficiency. As a result, they find widespread applications in powertrains, electrical components, interior and exterior furnishings, chassis, etc. 

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Automotive Plastics Market Trends and Drivers:

The escalating popularity of electric and hybrid vehicles across countries is primarily driving the automotive plastics market. Besides this, the elevating utilization of these materials in the production of carpet fibers, wheel covers, suspension bushings, dashboards, headlamp lenses, fuel tanks, truck bed liners, mud flaps, bumpers, gears, etc., is further augmenting the market growth.

Apart from this, the growing demand for synthetic coatings on metal surfaces to minimize the risk of corrosion caused by high heat, salt damage, and water exposure is also catalyzing the global market. Moreover, the expanding technological advancements and the rising number of research and development (R&D) activities financed by automobile manufacturers are positively influencing the product demand.

Furthermore, the leading players are relying on bio-based plastics and polymers instead of fossil-based plastics to promote sustainability and reduce their carbon footprint, which is anticipated to bolster the automotive plastics market in the coming years.

Important Attribute and highlights of the Report:

  • Detailed analysis of the market share
  • Market Segmentation
  • Historical, current, and projected size of the market in terms of volume and value
  • Latest industry trends and developments
  • Competitive Landscape
  • Strategies of major players and product offerings

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Global Automotive Plastics Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Which are the companies operating in the global automotive plastics industry?

Asahi Kasei Corporation, BASF SE, Borealis AG, Covestro AG, Dow Inc., Koninklijke DSM N.V., Lanxess AG, Lear Corporation, LyondellBasell Industries N.V., Saudi Basic Industries Corporation, Solvay S.A and Teijin Limited.

The report has segmented the market on the basis of region, vehicle type, material and application.

Breakup by Vehicle Type:

  • Conventional and Traditional Vehicles
  • Electric Vehicles

Breakup by Material:

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyurethane (PU)
  • Polymethyl Methacrylate (PMMA)
  • Polycarbonate (PC)
  • Polyamide
  • Others

Breakup by Application:

  • Powertrain
  • Electrical Components
  • Interior Furnishings
  • Exterior Furnishings
  • Under the Hood
  • Chassis

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Read Also: Trade Surveillance System Market 2022-2027, Size, Share, Industry Report and Forecast

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