IMARC Group’s report titled “Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global automotive plastics market share. The global market size reached US$ 40.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

Automotive plastics represent specialty materials that are specifically designed to improve vehicle safety, structure, performance, aesthetics, and functionality. They include polypropylene (PP), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM), polyurethane (PU), polyvinyl chloride (PVC), polycarbonate (PC), etc. Automotive plastics aid in extending the life of automobiles, reducing manufacturing costs, increasing design flexibility, easing the integration of components, etc. In addition to this, these materials also assist in lowering the weight of vehicles by replacing heavy elements, such as glass and metal, to save energy and improve fuel efficiency. As a result, automotive plastics find widespread applications in powertrains, electrical components, interior and exterior furnishings, under the hood, chassis, etc.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/automotive-plastics-market/requestsample

Automotive Plastics Market Trends and Drivers:

The widespread adoption of hybrid vehicles (HVs) across the globe is among the primary factors driving the automotive plastics market. Besides this, the rising need for these materials in the production of wheel covers, suspension bushings, dashboards, carpet fibers, fuel tanks, truck bed liners, mud flaps, bumpers, gears, headlamp lenses, etc., is further augmenting the market growth. Moreover, the escalating demand for synthetic coatings on metal surfaces to minimize the risk of corrosion caused by high heat, salt damage, and water exposure is catalyzing the global market. Apart from this, the continuous technological advancements and extensive R&D activities by leading manufacturers are acting as significant growth-inducing factors. Furthermore, the increasing usage of nylon for producing seat belts and airbags, on account of its tear-resistant properties, is also stimulating the market growth. In line with this, the inflating popularity of luxury and premium cars, owing to the growing consumer expenditure capacities and improving living standards, is expected to bolster the automotive plastics market in the coming years.

Report Segmentation:

The report has segmented the market into the following categories:

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

Market 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

Competitive Landscape with Key Player:

  • 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
  • Teijin Limited

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

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