Global Automotive Plastics Market Is Anticipated To Reach Around USD 75.3 Billion By 2026

01-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Automotive Plastics Market By Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polycarbonate, Polybutylene Terephthalate (PBT), Polymethylmethacrylate (PMMA), and Others) and By Application (Power Trains, Electrical Components, Interior Furnishing, Exterior Furnishing, Under the Hood, and Chassis): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global automotive plastics market in 2019 was approximately USD 35.4 billion. The market is expected to grow at a CAGR of 11.4% and is anticipated to reach around USD 75.3 billion by 2026.

Increased demand for products offerings substantial pollution reduction is one of the drivers of the automotive plastics market. Automotive manufacturers favor automotive plastics while manufacturing automobiles because of some of the end-users stringent carbon emission regulations and price-sensitivity. The use of technologies such as turbocharging adjustment, aerodynamic design, valve timing and the introduction of plug-in hybrid, and hybrid in vehicles can reduce carbon emissions in passenger cars. However, the high capital cost and cost of plastic materials are expected to hinder the market growth in the upcoming years. Capital costs associated with the invention or design of new materials are often measured over the long-term, or system or device life cycle. This feature prevents the use of modern advanced materials during the manufacturing of vehicles as they involve re-engineering the process and need new manufacturing techniques, which involves a huge cost of capital. Nevertheless, the use of PMMA and composites in vehicle car production is anticipated to create new opportunities for the automotive plastics market in the upcoming future.

Browse the full “Automotive Plastics Market By Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polycarbonate, Polybutylene Terephthalate (PBT), Polymethylmethacrylate (PMMA), and Others) and By Application (Power Trains, Electrical Components, Interior Furnishing, Exterior Furnishing, Under the Hood, and Chassis): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/automotive-plastics-market-by-product-type-polypropylene-polyurethane-10476

Polypropylene has a major share in the automotive plastics market in 2019 and anticipated to continue its dominance in the upcoming years. Due to its physical and chemical properties, polypropylene finds use in both rigid and flexible packaging. Polypropylene is weighted very lightly relative to many other plastics and is commonly used in the automotive industry. At very high temperatures PP provides excellent chemical and electrical resistance. This is semi-rigid, transparent, and gives integral character to the hinge. It is used in various end-use industries such as electrical and electronics, packaging,  manufacturing, consumer goods, and the automotive industry. The market for automotive plastics for interior components is projected to grow mainly due to increased focus on automobiles that are compact and fuel-efficient. The market is expected to gain more traction, with improving economic conditions. Most other interior parts, including seat bases, load boards, headliners, and rear box shelves, are largely made from high-performance plastics, such as ABS composites and Glass-Mat Thermoplastic (GMT), rather than traditional rubber and metal.

The Asia Pacific region is anticipated to dominate the automotive plastics market for vehicles in the upcoming years. Asia Pacific market growth is due to Asian countries such as India, Thailand, and China. Increasing manufacturing base and growing investments in modern vehicle production technology are anticipated to bring about a new age of vehicles, positively affecting the plastic automotive industry. In terms of volume, the Asia Pacific automotive plastics market for non-commercial cars is expected to rise at the significant growth rate between 2019 and 2026.

Some of the key players of the automotive plastics market are BASF SE, Evonik Industries AG, SABIC, Borealis AG, Grupo Antolin, Owens Corning, Royal DSM N.V., Akzo Nobel N.V., Covestro AG, Adient plc, Momentive Performance Materials, Inc., Dow Chemical Company, Magna International, Inc., Lear Corporation, Quadrant AG, Hanwha Azdel Inc., Teijin Limited and Others.

Report Scope

This report segments the automotive plastics market as follows:

Global Automotive Plastics Market: By Product Type Segmentation Analysis

• Polypropylene
• Polyurethane
• Polyvinyl Chloride
• Acrylonitrile-Butadiene-Styrene (ABS)
• Polyamide
• Low-Density Polyethylene (LDPE)
• High-Density Polyethylene (HDPE)
• Polycarbonate
• Polybutylene Terephthalate (PBT)
• Polymethylmethacrylate (PMMA)
• Others

Global Automotive Plastics Market: By Application Segmentation Analysis

• Power Trains
• Electrical Components
• Interior Furnishing
• Exterior Furnishing
• Under the Hood
• Chassis

Global Automotive Plastics Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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