Automotive Plastics Market Outlook and Forecast Analysis by Types to 2030

 Automotive Plastics Industry Overview

The global automotive plastics market size was valued at USD 28.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030.

Globally, recovery in the automotive sector, improved vehicle design capabilities, and increasing focus on vehicle weight reduction and emission control are the key factors boosting the growth of the market for automotive plastics. Plastics are widely used in automotive components and parts owing to easy manufacturing, possible sourcing from renewable raw materials, and improved designs.

The COVID-19 pandemic impacted the market due to a drop in new vehicle sales, the shutdown of production facilities, a limited supply of vehicle parts, and a decline in working capital. It led to the interruption in the supply chain and suspension of production, resulting in reduced retail sales. Furthermore, many individuals were uncertain about their jobs and the long-term economic and health effects of the virus on their lives, influencing their purchasing decisions.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Plastics Market

Polypropylene (PP), Polyvinyl Chloride (PVC), Acrylonitrile Butadiene Styrene (ABS), and Polyurethane (PU) are the most commonly utilized materials for vehicle parts and component applications. Plastics undergo five different stages while recycling including sorting, washing, shredding, identification, and classification, and extruding into the final component or product. Improvements in recycling processes have forced manufacturers to use high-performance automotive plastics. Usually, an average car consists of 5.8 to 10% of plastics, depending on fuel-efficiency standards and performance requirements, with consumption in vehicular equipment accounting for over 110-120 kg in an average car.

This percentage is expected to increase owing to the growing demand from consumers for high-performance, lightweight, and fuel-efficient vehicles, thereby augmenting the demand for automotive plastics over the years to come. Weight reduction also offers a cost-effective way to reduce Greenhouse Gas (GHG) emissions and fuel consumption, conserving non-renewable crude oil reserves. For example, every 10% weight reduction in a vehicle would improve fuel economy by 5 to 7%.

Plastic monomers are polymerized using chemical reactions and catalysts to form polymers and co-polymers and are turned into Polycarbonate (PC), Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), and other such polymerized materials. These materials possess far better properties than their respective monomers and are extremely stable for use in molding and fabrication.

Designing a vehicle is a critical factor as it is subjected to various external forces and the possibility of high impacts. Thus, to preserve the structural integrity of a vehicle, the materials used in its production become important factors for safety and stability. Although they are relatively cheaper than metals, their design parameters and manufacturing equipment are highly expensive, which is expected to pose a challenge to industry participants.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • Paint Protection Film Market - The global paint protection film market size was valued at USD 458.28 million in 2021 and is expected to register a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030.
  • Polyimide Films Market - The global polyimide films market size was valued at USD 2.20 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2022 to 2030.

Automotive Plastics Market Segmentation

Grand View Research has segmented the global automotive plastics market on the basis of product, process, application, and region:

  • Automotive Plastic Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • Acrylonitrile Butadiene Styrene (ABS)
    • Polypropylene (PP)
    • Polyurethane (PU)
    • Polyvinyl Chloride (PVC)
    • Polyethylene (PE)
    • Polycarbonate (PC)
    • Polymethyl Methacrylate (PMMA)
    • Polyamide (PA)
    • Others
  • Automotive Plastic Process Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • Injection Molding
    • Blow Molding
    • Thermoforming
    • Others
  • Automotive Plastic Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • Powertrain
    • Electrical Components
    • Interior Furnishings
    • Exterior Furnishings
    • Under the Hood
    • Chassis
  • Automotive Plastic Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Automotive Plastics market include

  • BASF SE
  • SABIC
  • Dow Inc.
  • AkzoNobel N.V.
  • Covestro AG
  • Evonik Industries AG
  • Borealis AG
  • Royal DSM N.V.
  • Magna International, Inc.
  • Teijin Limited

Order a free sample PDF of the Automotive Plastics Market Intelligence Study, published by Grand View Research.

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