Market Study Report presents latest report on global Automotive Plastics Market, which evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2021-2027.
Global Automotive Plastics Market had reached a valuation of USD 29.15 billion in the year 2020 and is likely to record a CAGR of 5.57% during 2021-2027, subsequently accounting for USD 41.74 billion by 2027.
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Automotive plastics are extensively used in automotive components and parts as they are durable, easy to manufacture and leads to lightweight designs of automotive components. The increasing demand from the automotive industry has been driving the Automotive Plastics market. According to Statista, global car sales are expected to hit 71.4 million units by 2021, up from 63.8 million units in 2019. There is a growing demand for design simplification and lighter weight automotive components which is boosting the demand for the use of plastic.
Major Automotive Plastics market player included in this report are:
- DuPont de Nemours
- BASF SE
- Covestro AG
- Evonik Industries AG
- Adient plc (Spin-Off from Johnson Control International plc)
- Magna International, Inc.
- Momentive Performance Materials, Inc.
- Dow Inc.
- Borealis AG
According to Global eProcure (GEP), in March 2020, Plastics currently account for 50% of the overall vehicle volume but only 10% of the vehicle’s weight, in upgraded cars. Also, 10% weight decrease in a vehicle, for example, improves fuel mileage by 5% to 7%. As a result, reducing vehicle weight by 1 kg is expected to reduce carbon emissions by at least 20 kg. Although plastic has less strength when compared to metal components, this may act as a restraint for its growth. However, increasing usage of recyclable plastics to curb the carbon emission acts as an opportunity for Automotive Plastics Market in subsequent decade. Furthermore, rise in investments and R&D in plastic recycling and rising middle class population will provide lucrative opportunities for the market.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are considered for geographical analysis of Automotive Plastics Market. Asia-Pacific is leading across the world in terms of market share and is also expected to exhibit high growth rate for the forecast period 2021-2027 owing to the strategic initiatives such as innovation and research and development, favorable government initiatives and growing demand for light vehicles in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polymethyl Methacrylate (PMMA)
- Polyamide (PA)
- Electrical components
- Interior furnishings
- Exterior furnishings
- Under-the-hood components
- Injection Molding
- Blow Molding
Global Automotive Plastics Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Automotive Plastics market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027
Frequently Asked Questions
Which product segment grabbed the largest share in the Automotive Plastics market?
How is the competitive scenario of the Automotive Plastics market?
Which are the key factors aiding the Automotive Plastics market growth?
Which region holds the maximum share in the Automotive Plastics market?
What will be the CAGR of the Automotive Plastics market during the forecast period?
Which application segment emerged as the leading segment in the Automotive Plastics market?
Which are the prominent players in the Automotive Plastics market?
What key trends are likely to emerge in the Automotive Plastics market in the coming years?
What will be the Automotive Plastics market size by 2027?
Which company held the largest share in the Automotive Plastics market?
Table of Contents:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Automotive Plastics Market, by Product, 2019-2027 (USD Billion)
1.2.2. Automotive Plastics Market, by Application, 2019-2027 (USD Billion)
1.2.3. Automotive Plastics Market, by Process, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Plastics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Plastics Market Dynamics
3.1. Automotive Plastics Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
184.108.40.206. Significant rise of the automotive industry
220.127.116.11. Ease of designing and weight reduction by plastic usage
3.1.2. Market Challenges
18.104.22.168. Less strength as compared to metal substitutes
3.1.3. Market Opportunities
22.214.171.124. Investments in recyclable plastics for automotive usage
Chapter 4. Global Automotive Plastics Market: Industry Analysis
Chapter 5. Risk assessment: COVID -19 Impact
Chapter 6. Global Automotive Plastics Market, by Product
Chapter 7. Global Automotive Plastics Market, by Application
Chapter 8. Global Automotive Plastics Market, by Process
Chapter 9. Global Automotive Plastics Market, Regional Analysis
Chapter 10. Global Automotive Plastics Market Competitive Intelligence
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