Dublin, March 08, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Plastics Market Size, Share & Trends Analysis Report by Product (ABS, PP, PU, PVC, PE, PC, PMMA, PA), Process (Injection Molding, Blow Molding, Thermoforming), Application, Regions, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive plastics market is anticipated to reach USD 43.77 billion by 2030 is projected to grow at a CAGR of 5.6% from 2024 to 2030. Growing awareness of environmental sustainability is a key trend, pushing automakers toward eco-friendly and recyclable plastic solutions. Additionally, advancements in polymer technology and a rising focus on interior aesthetics are expected to contribute to the projected growth of the market. The global automotive plastics market is expected to witness significant growth over the forecast period. Increasing utilization of plastics in automotive components coupled with a rise in the production of passenger cars and heavy-duty vehicles, particularly in Central & South America and Asia-Pacific, is expected to boost the growth of the automotive plastics market over the forecast period. Furthermore, vehicle weight regulations and standardization of emission norms are anticipated to impact the market growth positively. 
Automobiles involve the use of various types of plastics such as polyurethane, polypropylene, acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), polymethyl methacrylate (PMMA), polycarbonate, polyamides, and others. These materials possess various physical properties that are particularly of use in the automotive industry and can also be employed in other industries, thereby generating additional revenues for automotive plastics.
For instance, polypropylene is highly resistant to chemicals and almost completely impervious to water. These features make it suitable for use in manufacturing automotive bumpers, fuel tanks, cable insulation, battery boxes, petrol cans, and indoor & outdoor carpets. The same properties are also useful in the manufacture of chemical tanks, bottles, non-automotive carpets, liners, and insulators. This diversification of automotive plastics provides a new source of revenue for automotive plastic manufacturers, and the market could expand further into other manufacturing disciplines.
Properties such as high chemical resistance and impermeability to water have contributed to P.P.'s emergence as the dominant material in the automotive plastics market. However, from the manufacturing point of view, Polyurethane (PU) is one of the most attractive materials in the automotive plastics market at present since it is not only the second-largest market segment but also one of the fastest-growing plastics in automotive applications.
Automotive Plastics Market Report Highlights
- The expansion of the market is being fueled by the increasing demand for lightweight materials in vehicle manufacturing, driven by the pursuit of enhanced fuel efficiency and reduced emissions
- The segment has witnessed growth due to the increasing adoption of PP in the manufacturing of lightweight and durable automotive components, including interiors, exteriors, and under-the-hood applications.
- The growth of the segment can be attributed to the escalating demand for advanced and lightweight materials in vehicle interiors. Automakers are increasingly incorporating plastics in components like dashboards, door panels, and seating to achieve a balance between aesthetics, functionality, and weight reduction.
- Asia-Pacific's dominance is fuelled by various factors, such as increasing vehicle production, rising consumer purchasing power, and a growing emphasis on lightweight materials to enhance fuel efficiency. Additionally, the presence of key automotive original equipment manufacturers (OEMs) and a thriving supply chain contribute to the significant market share held by the Asia-Pacific region in the automotive plastics sector.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 162 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $30.44 Billion |
| Forecasted Market Value (USD) by 2030 | $43.77 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Automotive Plastics Market: Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Automotive Plastics Market: Executive Summary
2.1. Market Snapshot, 2023
2.2. Polymer Segment Snapshot, 2023
2.3. Application Segment Snapshot, 2023
2.4. Competitive Landscape Snapshot
Chapter 3. Automotive Plastics Market: Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Global Plastic Additives Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.3.2. Manufacturing Trends
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. Automotive Plastics Market - Business Environment Analysis
3.6.1. Industry Analysis - Porter's Five Force Analysis
3.6.2. Industry Analysis - Macroeconomic Factors Analysis
3.7. East European Geopolitical Implication of the Industry Overview
3.8. Impact of COVID-19 on Automotive Plastics Market
Chapter 4. Automotive Plastics Market: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2023 & 2030
4.2. Automotive Plastics Market Estimates & Forecast, by Process, 2018 to 2030 (Kilotons) (USD Million)
4.3. Acrylonitrile Butadiene Styrene (ABS)
4.4. Polypropylene (PP)
4.5. Polyurethane (PU)
4.6. Polyvinyl Chloride (PVC)
4.7. Polyethylene (PE)
4.8. Polybutylene Terephthalate (PBT)
4.9. Polycarbonate (PC)
4.10. Polymethyl Methacrylate (PMMA)
4.11. Polyamide (PA)
4.12. Others
Chapter 5. Automotive Plastics Market: Process Estimates & Trend Analysis
5.1. Process Movement Analysis & Market Share, 2023 & 2030
5.2. Automotive Plastics Market Estimates & Forecast, by Process, 2018 to 2030 (Kilotons) (USD Million)
5.3. Injection Molding
5.4. Blow Molding
5.5. Thermoforming
5.6. Others
Chapter 6. Automotive Plastics Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2023 & 2030
6.2. Market Estimates & Forecasts, 2018-2030 (Kilotons) (USD Million)
6.3. Powertrains
6.4. Electrical Components
6.5. Interior furnishing
6.6. Others
Chapter 7. Automotive Plastics Market: Vehicle Type Estimates & Trend Analysis
7.1. Vehicle Type Movement Analysis & Market Share, 2023 & 2030
7.2. Automotive Plastics Market Estimates & Forecast, by Vehicle Type, 2018 to 2030 (Kilotons) (USD Million)
7.3. Passenger Cars
7.4. Light Commercial Vehicles
7.5. Medium & Heavy Commercial Vehicles
Chapter 8. Automotive Plastics Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2023 & 2030
8.2. North America
8.3. Europe
8.4. Asia-Pacific
8.5. Central & South America
8.6. Middle East & Africa
Chapter 9. Automotive Plastics Market - Competitive Landscape
9.1. Recent Developments & Impact Analysis, by Key Market Participants
9.2. Company Categorization
9.3. Company Market Share/Position Analysis, 2023
9.4. Company Heat Map Analysis
9.5. Strategy Mapping
9.5.1. Expansion
9.5.2. Mergers & Acquisition
9.5.3. Partnerships & Collaborations
9.5.4. New Process Launches
9.5.5. Research And Development
9.6. Company Profiles
9.6.1. AkzoNobel N.V.
9.6.2. BASF SE
9.6.3. Covestro AG
9.6.4. Evonik Industries AG
9.6.5. Adient plc
9.6.6. Magna International Inc.
9.6.7. Momentive Performance Materials, Inc.
9.6.8. SABIC
9.6.9. Dow, Inc.
9.6.10. Borealis AG
9.6.11. Hanwha Azdel Inc.
9.6.12. Grupo Antonin
9.6.13. Lear Corporation
9.6.14. Owens Corning
9.6.15. Quadrant AG
9.6.16. Royal DSM N.V.
9.6.17. TEIJIN LIMITED
For more information about this report visit https://www.researchandmarkets.com/r/tsicwb
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