Global Automotive Plastics Market, By Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, High-Density Polyethylene (HDPE), Polycarbonate, Polybutylene Terephthalate (PBT), Others), Vehicle Type (Conventional Cars, Electric Cars), Application (Powertrain, Electrical Components, Interior Furnishings, Under-The-Hood Components, Chassis, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Automotive Plastics Market
The automotive plastics market is expected to witness market growth at a rate of 11.2% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive plastics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of automotive plastics market.
The polymeric materials refer to the materials that possess the capability of being shaped or molded via applying high pressure and temperature. The plastics are known to have various properties including low density, transparency, electrical conductivity and high toughness. Various thermoplastics and thermosets are generally molded and remolded to be used in the automotive industry. Polypropylene and polyethylene are the commonly used materials.
The rise in trend of vehicle electrification across the globe acts as one of the major factors driving the growth of automotive plastics market. The surge in adoption of lightweight materials due to stringent emission by government and other public organizations, and continuous improvements in recycling processes accelerate the market growth. The rise in demand from consumers for high-performance, lightweight, and fuel-efficient vehicles, and OEMs’ inclination towards thermally stable plastics further influence the market. Additionally, rapid industrialization, expansion of various end use industries, research and development activities, and introduction of new safety features and luxury components positively affect the automotive plastics market. Furthermore, use of bioplastics in vehicle production and use of anti-microbial plastics/additives in vehicle car production extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost of capital and infrastructure for re-engineering of plastics and inclination towards advanced materials to adhere to carbon emission targets among OEMs are expected to obstruct the market growth. The negative impact of COVID-19 slowing down sales of passenger cars is projected to challenge the automotive plastics market in the forecast period of 2021-2028.
This automotive plastics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on automotive plastics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Plastics Market Scope and Market Size
The automotive plastics market is segmented on the basis of product type, vehicle type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the automotive plastics market is segmented into Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, High-Density Polyethylene (HDPE), Polycarbonate, Polybutylene Terephthalate (PBT) and Others.
- On the basis of product, the automotive plastics market is segmented into conventional cars and electric cars.
- On the basis of application, the automotive plastics market is segmented into powertrain, electrical components, interior furnishings, under-the-hood components, chassis and others.
Automotive Plastics Market Country Level Analysis
The automotive plastics market is analyzed and market size, volume information is provided by country, product type, vehicle type and application as referenced above.
The countries covered in the global automotive plastics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive plastics market due to the growing investments in advanced technologies for vehicular production within the region. Asia-Pacific is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the shift from diesel engines to electrified motors in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Plastics Market Share Analysis
The automotive plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive plastics market.
The major players covered in the automotive plastics market report are Magna International Inc., Lear Corporation, Adient plc, BASF SE, Borealis AG, Covestro AG, Evonik Industries AG, SABIC, Grupo Antolin, TOYOTA BOSHOKU CORPORATION, Faurecia, TOYODA GOSEI Co., Ltd., Sage Automotive Interiors, DSM, Dow, Momentive, TEIJIN LIMITED, Solvay, Akzo Nobel N.V., and CNR Group, LLC, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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