The automotive plastics market is growing steadily with a CAGR of 5.57% globally in the coming years.  What is his size?

The automotive plastics market is growing steadily with a CAGR of 5.57% globally in the coming years. What is his size?

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Douglas Insights

Major players in the industry are AkzoNobel NV, BASF SE, Covestro, Evonik Industries AG, Johnson Controls, and Magna International, to name a few.

Isle of Man, Nov. 28, 2022 (GLOBE NEWSWIRE) — Known as the third largest consumer of engineering plastics and polymers, the automotive industry uses them in the manufacture of car interior and exterior components. Plastics and polymers are widely used for bumpers, doors, windows, mirrors, hoods, grilles, wheel covers, trunk lids and headlights. The continuous demand for automotive plastic is mainly due to its high performance, excellent visual appearance and, most importantly, its top-notch mechanical properties. The increased demand has led researchers, experts and organizations to further investigate and conduct research in this field to get better information and make predictions. Therefore, Douglas Insights added automotive plastics market search reports to its comparison engine to make things easier and faster.

Douglas Insights is the world’s leading comparison engine. The engine uses several research reports to compare and evaluate information. The comparison generates crucial insights and insights that analysts can use to make quality decisions. Several automakers are actively using the Douglas Insights comparison engine to better understand market trends, share, size, growth drivers and possible inhibitors. Additionally, the digital tool allows users to efficiently and effectively compare all existing research, editors’ notes, publication dates, and table of contents.

Browse to access an in-depth research report on the Global Automotive Plastics Market with detailed charts and figures: https://douglasinsights.com/automotive-plastic-market

Market overview

By comparing valuable information in multiple research reports on the Douglas Insights comparison engine and using the data already available, automakers can make lucrative investments and decisions to accelerate their growth. According to the global automotive plastics market forecast, the compound annual growth rate of the industry from 2022 to 2029 is expected to increase by 7.9%.

Several factors are triggering the high demand. Some of them include the versatile properties of plastic, such as unparalleled corrosion resistance, scratch resistance, moldability, toughness, resilience, durability, and thermal stability. Apart from versatility, the growth of automotive plastics market can also be attributed to low cost. Compared to metal, plastic is more affordable. It offers high performance and visual appeal at an affordable price, thereby increasing profit margins for companies operating in the industry.

However, the main constraint for the market is the strict regulations imposed by the government to reduce vehicle emissions. The non-degradable nature of automotive plastics poses a constant threat to the ecosystem and environmental sustainability. Automakers need to research and acquire more information to find better solutions to increase their profit margins while avoiding landfills.

Automotive plastics demand is segmented into Polycarbonate, Polyamide PA, High Density Polyethylene HDPE, Polyvinyl Chloride PVC, Polypropylene PP, and Acrylonitrile Butadiene Styrene ABS. Different types of plastics are also used to make vehicle components for luxury cars, such as infotainment systems, lighting systems, displays, fascia systems, and crash recording systems.

The Douglas Insights comparison engine gives companies in the automotive plastics market the power to quickly evaluate and compare research information and reports. Industry players can utilize this in-depth data and findings regarding the challenges, opportunities, market drivers, demographics, and economic factors that are expected to drive future growth. As a result, new strategies and campaigns can be designed to conquer and penetrate new markets and experience exponential growth. The shift to plastics from metal has caused suppliers and manufacturers to rethink new and innovative ways to design, build and use vehicles and materials.

Key players

The automotive plastics market is booming locally and internationally. Asia-Pacific holds the largest automotive plastics market share globally, followed by regions like North America, Europe, Middle East, Africa, and South America. Major players in the industry are AkzoNobel NV, BASF SE, Covestro, Evonik Industries AG, Johnson Controls, and Magna International, to name a few. These companies are best positioned to respond to the market push because of their investments in product innovations and proprietary technologies.

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Automotive Plastics Market Report Coverage

Report attributes

Details

Market size in 2020

US$29.15 billion

Projection of the market size in 2030

$US** billion

CAGR (2021-2027)

5.57%

The biggest market

North America

Report segmentation

By product, by application, By process, by region

Regional analysis

North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (UK, Germany, Italy, France, Spain, Russia and Rest of Europe) , APAC (China, Japan, India, South Korea, Australia, ASEAN and rest of Asia Pacific), ME (GCC countries, Israel and rest of Middle East) and Africa (South Africa, North Africa and Central Africa)

Key companies covered

AkzoNobel NV, BASF SE, Covestro, Evonik Industries AG, Johnson Controls and Magna International

Segmentation

By product:

Per application:

By process:

  • Injection molding

  • Blowing

  • Thermoforming

  • Others

Key questions answered by this report

  • Impact Analysis of COVID 19 on Global Automotive Plastics Industry.

  • What are the current market trends and dynamics in the Automotive Plastic market and valuable opportunities for emerging players?

  • What is driving the automotive plastics market?

  • What are the main challenges to market growth?

  • Which segment represents the fastest CAGR during the forecast period?

  • Which product type segment has the largest market share and why?

  • Are low- and middle-income economies investing in the automotive plastics market?

  • Key growth pockets based on regions, types, applications, and end-users

  • What is the market trend and dynamics in emerging markets such as Asia-Pacific, Latin America, Middle East and Africa?

Unique data points in this report

  • Automotive plastics statistics and spending around the world

  • Recent trends in different regions in terms of adoption of automotive plastics in industries

  • Notable developments taking place in the industry

  • Attractive investment proposition for segments as well as geography

  • Comparative scenario for all segments for the years 2018 (actual) and 2028 (forecast)

Contents:

Chapter 1. Executive Summary
1.1. Market overview
1.2. Global and Segmental Market Estimates and 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 hypothesis

Chapter 2. Global Automotive Plastics Market Definition and Scope
2.1. Goal of the study
2.2. Market definition and scope
2.2.1. Scope of the study
2.2.2. Industry evolution
2.3. Years Considered for Study
2.4. Currency conversion rate

Chapter 3. Global Automotive Plastics Market Dynamics
3.1. Automotive Plastics Market Impact Analysis (2019-2027)
3.1.1. Market factors
3.1.1.1. Strong rise in the automotive industry
3.1.1.2. Ease of design and weight reduction through the use of plastic
3.1.2. Market challenges
3.1.2.1. Less resistance compared to metal substitutes
3.1.3. Market opportunities
3.1.3.1. Investments in recyclable plastics for automotive use

…………… Continuation of the table of contents

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Similar Market Research Report Comparisons:

Automotive Additives Market: Global Automotive Additives Market report provides comprehensive industry analysis, market size, market share, growth trends and forecasts from 2023 to 2028.

Automotive Composites Market: The market is expected to increase in the coming years. Strict confinement and social distancing norms during the COVID-19 pandemic have had a negative impact on the market growth.

Aerospace Plastics Market: The growing demand for lightweight materials in the aerospace industry has led to a high demand for aerospace plastics in the market. The lightweight nature of plastics has attracted manufacturers from various end user industries to the market.

Electric vehicle engineering plastics market: The Electric Vehicle Plastics market is expected to reach a cross-market value of USD 4,880.8 million in 2027, from USD 781.9 million in 2020. It is expected to grow at a CAGR of over 36.1% during the forecast period.

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