The Business Research Company’s report on the Automotive Plastics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the automotive plastics market’s growth in recent years?
The increase in demand for lightweight and electric vehicles is significantly contributing to the growth of the automotive plastics market. The increase in the use of plastic components in the automotive industry has boosted the advancements in the design of automobiles. It also reduces the consumption of fuel in vehicles, as less weight requires less energy when the vehicle is accelerated. For instance, in April 2023, according to reports published by the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales surged by 55% in 2022 compared to 2021, surpassing 10 million units, while the proportion of electric cars in total car sales increased to 14% in 2022 from 9% in 2021. Therefore, the increasing demand for lightweight and electric vehicles is driving the growth of the automotive plastics market.
Access Your Free Sample of the Global Automotive Plastics Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5627&type=smp
How does the future projection of the automotive plastics market size compare to its historical growth?
The automotive plastics market size has grown strongly in recent years. It will grow from $43.29 billion in 2024 to $47.52 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased automobile production, increased demand for commercial vehicles, surge in passenger vehicles, increased demand for sustainable plastics, and strong economic growth in emerging markets.
The automotive plastics market size is expected to see strong growth in the next few years. It will grow to $68.66 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, supportive government initiatives, and the growing automotive industry. Major trends in the forecast period include a focus on the launch of new production lines, recovering used plastics from the production of automotive parts, partnerships and collaborations, and a focus on lightweight products.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=5627&type=smp
Which key players are shaping the future of the automotive plastics market?
Major companies operating in the automotive plastics market include Lyondellbasell Industries Holdings B.V., BASF SE, Covestro AG, Saudi Basic Industries Corporation (SABIC), Borealis AG, DSM, Evonik Industries AG, Exxon Mobil Corporation, Arkema Group, LG Chem, Lumax Auto Technologies, Tractors and Farm Equipment Limited, Sanhe Group, Changzhou Tourism Automobile Group Co. Ltd, Nanchong Kunhe Automobile Trading Co. Ltd, Ningbo Sailing Falaixin New Material Co. Ltd., Suzhou Xinyite Plastic Technology Co. Ltd., ShanDong DongChen New Technology Co. Ltd., Amazing Plastics Limited, Rapid Direct, Adreco Plastics, Omega Plastics Group, Rochling Industrial UK Ltd, Rutland Plastics, Nifco UK Limited, SKS Metaplast, Tenn-Tex Plastics, Zavod Signal, Ideal-Plast LLC, LitPromGarant -NN LLC, Coba Automotive Rus LLC, Atek Ltd, Aectra Plastics, Chevron Phillips Chemical, Americas Styrenics LLC, Johnson Controls, Lear Corporation, Celanese Corporation, Magna International Inc, Thogus Products, Zwick Roell Group, Belenus of Brazil S / A, METALAC, H.B. Fuller, Rimco Nigeria Limited, DVC Plastics Limited, COBA Plastics Moulding, Ampa Plastics Group (Pty) Ltd, Finke Plastics
What trends will propel the growth and evolution of the automotive plastics market?
Major companies operating in the automotive plastics market are focusing on developing innovative products, such as polyamide-based compounds, to enhance automotive interior structural solutions by improving performance, aesthetics, durability, and sustainability. For instance, in July 2024, LyondellBasell (LYB), a US-based chemical company, launched a Schulamid ET100 product line, a new polyamide-based compound specifically designed for automotive interior structural solutions, such as door window frames. This innovative technology aims to enhance the performance and aesthetics of automotive applications by offering superior surface quality, improved durability, suitable rigidity, customizable styles, and sustainability benefits, such as lower density and reduced VOC emissions.
Which regions are expected to become dominant players in the automotive plastics market?
Asia-Pacific was the largest region in the automotive plastics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/automotive-plastics-global-market-report
What are the emerging key segments in the automotive plastics market, and how are they evolving?
The automotive plastics market covered in this report is segmented –
1) By Product Type: Polypropylene (PP), Polyurethane (PU), Polyvinylchloride (PVC), Polyamide (PA), Acrylonitrile Butadiene Styrene (ABS), High Density Polyethylene (HDPE), Polycarbonate (PC), Polybutylene Terephthalate (PBT), Other Product Types
2) By Application: Interior, Exterior, Under Bonnet, Electrical Components, Power Train, Chassis
3) By Vehicle Type: Conventional Or Traditional Vehicles, Electric Vehicles, Hybrid Vehicles
Subsegments:
1) By Polypropylene (PP): Homopolymer PP, Copolymer PP
2) By Polyurethane (PU): Flexible PU, Rigid PU
3) By Polyvinylchloride (PVC): Rigid PVC, Flexible PVC
4) By Polyamide (PA): PA6, PA66
5) By Acrylonitrile Butadiene Styrene (ABS): Standard ABS, High-Impact ABS
6) By High-Density Polyethylene (HDPE): Injection-Molded HDPE, Blow-Molded HDPE
7) By Polycarbonate (PC): Standard PC, Impact-Resistant PC
8) By Polybutylene Terephthalate (PBT): Standard PBT, Reinforced PBT
9) By Other Product Types: Thermoplastic Elastomers (TPE), Polystyrene (PS), Composites
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5627
How is the automotive plastics market defined?
Automotive plastics refers to a polymer used in automotive vehicles to design and produce parts that provide mechanical strength, withstand shear stress, wear metal stress, offer aesthetic appearance, and are utilized in making the automotive body. These plastic components mainly replace the various metal parts in automobiles as they provide similar properties such as stiffness, flame retardancy, and others.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
