Global Automotive Plastic Materials Market Overview
Automotive plastics are usually strong, durable, scratch resistance, recyclable, resistance to abrasion, recover vibration and noise control and permits design, molding and incorporation of components in automobiles. Automotive plastic constitutes the key to a host of safety and performance development in minivan, modern cars, SUVs and even HMVs. In modern cars, plastic holds around 50% of the total volume of the car but subsidize only 10% of the total weight of cars which increase the overall fuel efficiency and makes cars lighter. However, modern automotive plastic have widespread application including passenger convenience, passenger safety, and total manufacturing cost reduction. Automotive plastic are utilized in dashboard, bumpers seats, fuel systems, under-bonnet components, body panels, interior trim, exterior trim, lighting, electrical components, upholstery and liquid reservoirs. Moreover, the developments in the field of durable and tough automotive plastic are projected to grow use of plastic in modern cars.
Global Automotive Plastic Materials Market Drivers & Restraints
Enhancement in the process of recycling
Plastics undergo five various stages while recycling involving categorizing, washing, shredding, identification and classification, and extruding into final product or component. Enhancements in the process of recycling have strengthen manufacturers to use high-performance automotive plastics. Typically, an average car contains 5.8 to 10% of plastics, reliant on performance requirements and fuel-efficiency standards, with consumption in vehicular equipment estimating for over 105 kg in an average car. This percentage is projected to grow due to increasing demand from consumers for high-performance, fuel-efficient, and lightweight vehicles, thereby promoting demand for automotive plastics over the forecast period. Weight reduction also provides a cost-effective method to reduce fuel consumption and greenhouse gas (GHG) emissions, preserving non-renewable crude oil reserves.
Increasing ecological issues due to rigorous energy use during plastic manufacture are likely to limit the market growth. The producer & disposal of these products leads substantial risk of land, water & air pollution along with deadly effects on human health. However, manufacturers’ efforts to enhance adoption of streamlined mass production techniques and improve recycling processes have resulted in the development of technologically advanced and cost-efficient product with enhanced sustainability, which should motivate the automotive plastics market value.
Global Automotive Plastic Materials Market Segmentations & Regional Insights
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The global automotive plastic materials market is segmented based on product, application, and region.
On the basis of product, the global automotive plastic materials market is segmented into Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene (PE), Polycarbonate (PC), Polymethyl methacrylate (PMMA), and Polyamide. On the basis of application, the target market is classified into power trains, electrical components, interior & exterior furnishing, under the hood, and chassis.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the global automotive plastic materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific was the leading regional market for automotive plastics and estimated for about 46% of the global market share in 2019. Unstable production bases from established regions to developing economies of Asia Pacific, particularly in China, India, Thailand, Vietnam, and Indonesia, is projected to drive market growth. Increasing investments and expanding manufacturing base for advanced technologies for vehicular production is anticipated to develop a new era of automobiles, confidently influencing the automotive plastic market. Europe estimates for about 31% of the total revenue share in 2019, owing to use of high-performance plastics as these materials are energy-efficient and help in weight reduction of the vehicle. Stringent emission standards in the region has made automakers in European countries to use electrified motors instead of diesel engines. This is also product to influence product demand in the coming years.
Report Scope:
Attribute |
Details |
Base year for estimation |
2019 |
Forecast period |
2019 – 2027 |
Market representation |
Revenue in USD Million & CAGR from 2019 – 2027 |
Market Segmentation |
By Product - Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene (PE), Polycarbonate (PC), Polymethyl methacrylate (PMMA), and Polyamide By Application- Power Trains, Electrical Components, Interior & Exterior Furnishing, Under the Hood, and Chassis |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest application trends and opportunities in each of the sub-segments from 2019 to 2027. For the purpose of this study, has segmented the global automotive plastic materials market report based on product, application, and region.
Global Automotive Plastic Materials Market, By Product:
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polymethyl methacrylate (PMMA)
- Polyamide
Global Automotive Plastic Materials Market, By Application:
- Power Trains
- Electrical Components
- Interior & Exterior Furnishing
- Under the Hood
- Chassis
Global Automotive Plastic Materials Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Global Automotive Plastic Materials Market Competitive Landscape & Key Players
The key players operating the global automotive plastic materials market includes Akzo Nobel N.V., BASF SE, Evonik Industries AG, Lear Corporation, Grupo Antolin-Irausa S.A., Bayer MaterialScience AG, Hanwha Azdel Inc., Borealis AG, Johnson Controls Inc., and Magna International Inc.
Prominent companies based on development capacities, applications and new technologies used for product formulation such as BASF SE are capitalizing in research and development activities to develop new and advanced plastics for automotive industry. This helps companies to grow competitively over other players. For instance, in March 2019, BASF SE inaugurated a new research and development center in Shanghai, China, which has a special automotive application center for conducting research and development activities specific to the automotive industry. The center is projected to develop innovative products and meet the growing demand from various interior and exterior automotive applications.
Global Automotive Plastic Materials Market Company Profile
- Akzo Nobel N.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- BASF SE
- Evonik Industries AG
- Lear Corporation
- Grupo Antolin-Irausa S.A.
- Bayer MaterialScience AG
- Hanwha Azdel Inc.
- Borealis AG
- Johnson Controls Inc.
- Magna International Inc.
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The Automotive Plastic Materials Market is segmented into Product, Application and Region.
Growing focus on lightweighting for fuel efficiency, advancements in plastic material technology, increasing adoption of electric vehicles, and demand for innovative interior and exterior designs.
Environmental concerns, recycling challenges, potential regulatory restrictions, and the need for materials with high heat resistance and durability.
North America, Europe, Asia-Pacific, Latin America. Asia-Pacific is expected to dominate due to extensive automotive production, particularly in countries like China and Japan. Europe and North America are also significant markets.
The key players operating the target market includes Akzo Nobel N.V., BASF SE, Evonik Industries AG, Lear Corporation, Grupo Antolin-Irausa S.A., Bayer MaterialScience AG, Hanwha Azdel Inc., Borealis AG, Johnson Controls Inc., and Magna International Inc.