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Automotive Plastics Market Report by Vehicle Type (Conventional and Traditional Vehicles, Electric Vehicles), Material (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Acrylonitrile Butadiene Styrene (ABS), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Polycarbonate (PC), Polyamide, and Others), Application (Powertrain, Electrical Components, Interior Furnishings, Exterior Furnishings, Under the Hood, Chassis), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5146
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Market Overview:
The global automotive plastics market size reached US$ 42.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 42.4 Billion |
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Market Forecast in 2032
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US$ 60.7 Billion |
| Market Growth Rate (2024-2032) | 4% |
Automotive plastics include polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM) and polycarbonate (PC). These plastics assist in extending the life of automobiles, increasing design flexibility, reducing manufacturing costs and easing integration of components. Besides this, they also help reduce the weight of vehicles by replacing heavy materials, such as metal and glass, to save energy and improve fuel efficiency.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Automotive Plastics Market Trends:
There is currently a rise in the sales of electric and hybrid vehicles (EVs/HVs) around the world. This represents one of the key factors propelling the growth of the market. Moreover, automotive plastics find applications in the production of fuel tanks, carpet fibers, wheel covers, suspension bushings, dashboards, headlamp lenses, truck bed liners, mud flaps, bumpers, and gears. In addition, there is an increase in the use of synthetic coatings on metal surfaces to minimize the risk of corrosion caused by salt damage, high heat and water exposure. Besides this, nylon is utilized for manufacturing seat belts and airbags on account of its tear-resistant properties. This, along with the escalating demand for lightweight and affordable vehicles, is positively influencing the market. Apart from this, leading players are relying on bio-based plastics and polymers instead of fossil-based plastics to reduce their carbon footprint and promote sustainability. Furthermore, they are using recycled plastics for manufacturing seat cushions, replacement bumpers, splash guards, and wheel liners. This, coupled with the burgeoning plastics industry, is augmenting the overall sales and profitability. Other factors facilitating the growth of the market include technological advancements and extensive research and development (R&D) activities financed by automobile manufacturers.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive plastics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on vehicle type, material, and application.
Breakup by Vehicle Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Conventional and Traditional Vehicles
- Electric Vehicles
Breakup by Material:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyurethane (PU)
- Polymethyl Methacrylate (PMMA)
- Polycarbonate (PC)
- Polyamide
- Others
Breakup by Application:
- Powertrain
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under the Hood
- Chassis
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Asahi Kasei Corporation, BASF SE, Borealis AG, Covestro AG, Dow Inc., Koninklijke DSM N.V., Lanxess AG, Lear Corporation, LyondellBasell Industries N.V., Saudi Basic Industries Corporation, Solvay S.A and Teijin Limited.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Vehicle Type, Material, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Asahi Kasei Corporation, BASF SE, Borealis AG, Covestro AG, Dow Inc., Koninklijke DSM N.V., Lanxess AG, Lear Corporation, LyondellBasell Industries N.V., Saudi Basic Industries Corporation, Solvay S.A and Teijin Limited |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global automotive plastics market was valued at US$ 42.4 Billion in 2023.
We expect the global automotive plastics market to exhibit a CAGR of 4% during 2024-2032.
The rising adoption of automotive plastics for reducing vehicular weight to control carbon emissions and improve fuel efficiency, is currently catalyzing the global automotive plastics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units for automotive plastics.
Based on the vehicle type, the global automotive plastics market can be segmented into conventional and traditional vehicles and electric vehicles. Currently, conventional and traditional vehicles hold the majority of the total market share.
Based on the material, the global automotive plastics market has been divided into Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Acrylonitrile Butadiene Styrene (ABS), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Polycarbonate (PC), polyamide, and others. Among these, Polypropylene (PP) currently exhibits a clear dominance in the market.
Based on the application, the global automotive plastics market can be categorized into powertrain, electrical components, interior furnishings, exterior furnishings, under the hood, and chassis. Currently, interior furnishings account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global automotive plastics market include Asahi Kasei Corporation, BASF SE, Borealis AG, Covestro AG, Dow Inc., Koninklijke DSM N.V., Lanxess AG, Lear Corporation, LyondellBasell Industries N.V., Saudi Basic Industries Corporation, Solvay S.A, and Teijin Limited.
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