LONDON, Feb. 24, 2022 (GLOBE NEWSWIRE) -- In recent years, the global automotive industry's usage of plastics in the manufacturing, design, and production cycle has witnessed tremendous growth. Concerns around safety, sustainability, performance, and functionality have contributed to increase the utilization of plastics in the automotive industry. As a result, the automotive plastics market has emerged as the third-largest outlet for plastics. This promising market scenario has opened fresh revenue streams and novel opportunities for innovation across the automotive plastics market. In the coming years, fuel-efficiency, demand for lightweight automotive materials, stringent emission regulations, increase in car sales, and rapid advancements in electric mobility are expected to create sound growth opportunities across the automotive plastics market.
Fairfield Market Research finds that the global automotive plastics market will reach a total valuation of US$ 68.6 billion by the end of 2026 from US$ 48.7 billion in 2018. Over the assessment period of 2022 to 2026, the market is projected to register a CAGR of 7.7%, wherein 70% of the total market share will be held by interior and exterior applications.
Looking For a Sample Copy of This Report? Request the Same Here: https://www.fairfieldmarketresearch.com/report/automotive-plastics-market/request-sample
Key Highlights and Trends
- In 2020, polypropylene (PP), polyamide (PA), and polyurethane (PU), and polyvinyl chloride (PVC) accounted for over 65% of the automotive plastics market, with PP holding the highest share of 33%.
- Polypropylene (PP) plastic type is set to retain its dominance over other plastic types; by 2026, PP is set to touch a market value of US$ 13.5 billion, growing with a CAGR of 7.8%.
- The rising demand for polycarbonate in the EV industry will propel polycarbonate to register the fastest growth over the study period, in value terms, in the automotive plastics market with a CAGR of 8.6%.
Interior Parts, Under the Hood Emerge as the Most Favorable Application Segments
In 2020, interior applications accounted for over 40% of the total automotive plastics market in terms of volume, emerging as the leading application segment. This segment uses a diverse range of plastics such as PVA, PP, PU, and PA in end-products such as seat leather upholstery, door panels, and consoles. These types of plastics offer benefits such as reduced noise, vibration, and harshness (NVH), design flexibility, due adherence to safety regulations, and improvement in vehicle’s aesthetics. Consequently, during the forecast period, interior parts is poised to maintain its position as the foremost end-use application segment in the automotive plastics market. Additionally, under the hood applications are expected to register the fastest growth over the assessment period as per value and volume. This is primarily driven by regulations on fuel carbon emissions and change in buyer behavior. The global demand for automotive plastics is also expected to increase owing to an uptick in the preference for high-end exterior components.
Do You Have Any Query or Specific Requirement? Request Customization of Report: https://www.fairfieldmarketresearch.com/report/automotive-plastics-market/request-customization
Asia Pacific is the Regional Leader in the Global Automotive Plastics Market
Asia Pacific led the demand for automotive plastics in 2020, with China commanding over half of the demand in the region. In the near future, high innovation, promising national policies, rise in vehicle ownership, and production-linked incentives are expected to drive this region to sound market maturity. By the end of 2026, demand is projected to increase in the markets of North America and Europe owing to rapid adoption of electric vehicles.
Prominent market players are BASF SE, Evonik Industries AG, Borealis AG, DuPont, Covestro AG, SABIC, LG Chem, Solvay, Arkema SA among others.
REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Product Coverage | • Polypropylene (PP) • Polyurethane (PU) • Polyamide (PA) • Polyvinylchloride (PVC) • High Density Polyethylene (HDPE) • Acrylonitrile Butadiene Styrene (ABS) • Polycarbonate (PC) • Misc. (Including PBT, PMMA, PET, LDPE, etc.) |
| Application Coverage | • Interior • Exterior • Electronics and Light • Under the Hood • Misc. (Chassis, Powertrain Components, etc.) |
| Geographical Coverage | • North America • U.S. • Canada • Europe • Germany • U.K. • France • Italy • Rest of Europe • Asia Pacific • China • Japan • India • Rest of Asia Pacific • Latin America • Brazil • Rest of Latin America • Middle East & Africa • UAE
|
| Leading Companies | • LyondellBasell Industries N.V. • BASF SE • SABIC • Covestro AG • Borealis AG • LG Chem • LANXESS AG • Celanese Corporation • INEOS • Asahi Kasei Corporation • Koninklijke DSM N.V. |
| Report Highlights | Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain), Key Trends |
Table of Content
1. Executive Summary
1.1. Global Automotive Plastics Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.6. Economic Overview
3. Production Output and Trade Statistics
4. Price Trends Analysis and Future Projects, 2018 - 2026
4.1. Global Average Price Analysis, by Product, US$ per Kg
4.2. Global Average Price Analysis, by Region, US$ per Kg
5. Global Automotive Plastics Market Outlook, 2018 - 2026
5.1. Global Automotive Plastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
5.2. Global Automotive Plastics Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
5.3. Global Automotive Plastics Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
6. North America Automotive Plastics Market Outlook, 2018 - 2026
6.1. North America Automotive Plastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
6.2. North America Automotive Plastics Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
6.3. North America Automotive Plastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
7. Europe Automotive Plastics Market Outlook, 2018 - 2026
7.1. Europe Automotive Plastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
7.2. Europe Automotive Plastics Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
7.3. Europe Automotive Plastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
8. Asia Pacific Automotive Plastics Market Outlook, 2018 - 2026
8.1. Asia Pacific Automotive Plastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
8.2. Asia Pacific Automotive Plastics Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2026
8.3. Asia Pacific Automotive Plastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 – 2026
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
Follow Us: LinkedIn
