Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


Market Overview:

The global automotive plastics 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 include polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM) and polycarbonate (PC). These plastics assist in extending the life of automobiles, increasing design flexibility, reducing manufacturing costs and easing integration of components. Besides this, they also help reduce the weight of vehicles by replacing heavy materials, such as metal and glass, to save energy and improve fuel efficiency. 

Automotive Plastics Market Trends:

There is currently a rise in the sales of electric and hybrid vehicles (EVs/HVs) around the world. This represents one of the key factors propelling the growth of the market. Moreover, automotive plastics find applications in the production of fuel tanks, carpet fibers, wheel covers, suspension bushings, dashboards, headlamp lenses, truck bed liners, mud flaps, bumpers, and gears. In addition, there is an increase in the use of synthetic coatings on metal surfaces to minimize the risk of corrosion caused by salt damage, high heat and water exposure. Besides this, nylon is utilized for manufacturing seat belts and airbags on account of its tear-resistant properties. This, along with the escalating demand for lightweight and affordable vehicles, is positively influencing the market. Apart from this, leading players are relying on bio-based plastics and polymers instead of fossil-based plastics to reduce their carbon footprint and promote sustainability. Furthermore, they are using recycled plastics for manufacturing seat cushions, replacement bumpers, splash guards, and wheel liners. This, coupled with the burgeoning plastics industry, is augmenting the overall sales and profitability. Other factors facilitating the growth of the market include technological advancements and extensive research and development (R&D) activities financed by automobile manufacturers.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive plastics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:

What was the size of the global automotive plastics market in 2022?
What is the expected growth rate of the global automotive plastics market during 2023-2028?
What are the key factors driving the global automotive plastics market?
What has been the impact of COVID-19 on the global automotive plastics market?
What is the breakup of the global automotive plastics market based on the vehicle type?
What is the breakup of the global automotive plastics market based on the material?
What is the breakup of the global automotive plastics market based on the application?
What are the key regions in the global automotive plastics market?
Who are the key players/companies in the global automotive plastics market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Automotive Plastics Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Vehicle Type
6.1 Conventional and Traditional Vehicles
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Electric Vehicles
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Material
7.1 Polyethylene (PE)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Polypropylene (PP)
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Polyvinyl Chloride (PVC)
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Acrylonitrile Butadiene Styrene (ABS)
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Polyurethane (PU)
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Polymethyl Methacrylate (PMMA)
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Polycarbonate (PC)
7.7.1 Market Trends
7.7.2 Market Forecast
7.8 Polyamide
7.8.1 Market Trends
7.8.2 Market Forecast
7.9 Others
7.9.1 Market Trends
7.9.2 Market Forecast
8 Market Breakup by Application
8.1 Powertrain
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Electrical Components
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Interior Furnishings
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Exterior Furnishings
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Under the Hood
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Chassis
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
 9.1.1.1 Market Trends
 9.1.1.2 Market Forecast
9.1.2 Canada
 9.1.2.1 Market Trends
 9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
 9.2.1.1 Market Trends
 9.2.1.2 Market Forecast
9.2.2 Japan
 9.2.2.1 Market Trends
 9.2.2.2 Market Forecast
9.2.3 India
 9.2.3.1 Market Trends
 9.2.3.2 Market Forecast
9.2.4 South Korea
 9.2.4.1 Market Trends
 9.2.4.2 Market Forecast
9.2.5 Australia
 9.2.5.1 Market Trends
 9.2.5.2 Market Forecast
9.2.6 Indonesia
 9.2.6.1 Market Trends
 9.2.6.2 Market Forecast
9.2.7 Others
 9.2.7.1 Market Trends
 9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
 9.3.1.1 Market Trends
 9.3.1.2 Market Forecast
9.3.2 France
 9.3.2.1 Market Trends
 9.3.2.2 Market Forecast
9.3.3 United Kingdom
 9.3.3.1 Market Trends
 9.3.3.2 Market Forecast
9.3.4 Italy
 9.3.4.1 Market Trends
 9.3.4.2 Market Forecast
9.3.5 Spain
 9.3.5.1 Market Trends
 9.3.5.2 Market Forecast
9.3.6 Russia
 9.3.6.1 Market Trends
 9.3.6.2 Market Forecast
9.3.7 Others
 9.3.7.1 Market Trends
 9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
 9.4.1.1 Market Trends
 9.4.1.2 Market Forecast
9.4.2 Mexico
 9.4.2.1 Market Trends
 9.4.2.2 Market Forecast
9.4.3 Others
 9.4.3.1 Market Trends
 9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10  SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13  Price Analysis
14  Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Asahi Kasei Corporation
 14.3.1.1 Company Overview
 14.3.1.2 Product Portfolio
 14.3.1.3 Financials
 14.3.1.4 SWOT Analysis
14.3.2 BASF SE
 14.3.2.1 Company Overview
 14.3.2.2 Product Portfolio
 14.3.2.3 Financials
 14.3.2.4 SWOT Analysis
14.3.3 Borealis AG
 14.3.3.1 Company Overview
 14.3.3.2 Product Portfolio
 14.3.3.3 Financials
 14.3.3.4 SWOT Analysis
14.3.4Covestro AG
 14.3.4.1 Company Overview
 14.3.4.2 Product Portfolio
 14.3.4.3 Financials
 14.3.4.4 SWOT Analysis
14.3.5 Dow Inc.
 14.3.5.1 Company Overview
 14.3.5.2 Product Portfolio
 14.3.5.3 Financials
 14.3.5.4 SWOT Analysis
14.3.6 Koninklijke DSM N.V.
 14.3.6.1 Company Overview
 14.3.6.2 Product Portfolio
 14.3.6.3 Financials
 14.3.6.4 SWOT Analysis
14.3.7 Lanxess AG
 14.3.7.1 Company Overview
 14.3.7.2 Product Portfolio
 14.3.7.3 Financials
 14.3.7.4 SWOT Analysis
14.3.8 Lear Corporation
 14.3.8.1 Company Overview
 14.3.8.2 Product Portfolio
 14.3.8.3 Financials
 14.3.8.4 SWOT Analysis
14.3.9 LyondellBasell Industries N.V.
 14.3.9.1 Company Overview
 14.3.9.2 Product Portfolio
 14.3.9.3 Financials
 14.3.9.4 SWOT Analysis
14.3.10 Saudi Basic Industries Corporation
 14.3.10.1 Company Overview
 14.3.10.2 Product Portfolio
 14.3.10.3 Financials
 14.3.10.4 SWOT Analysis
14.3.11 Solvay S.A
 14.3.11.1 Company Overview
 14.3.11.2 Product Portfolio
 14.3.11.3 Financials
 14.3.11.4 SWOT Analysis
14.3.12 Teijin Limited
 14.3.12.1 Company Overview
 14.3.12.2 Product Portfolio
 14.3.12.3 Financials
 14.3.12.4 SWOT Analysis

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