Automotive Plastics Market Share, Growth, Opportunities 2031

Segments - Automotive Plastics Market by Material (Polycarbonate, Polymethyl Methacrylate, Polyethylene, Polyvinyl Chloride, Polypropylene, Polyamide, and Others), Application (Interior, Exterior, Under Bonnet, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Automotive Plastics Market Outlook 2031

The Automotive Plastics Market was USD 34 Billion in 2022 and is likely to reach USD 80.17 Billion by 2031, expanding at CAGR of 10% during 2023 – 2031. The growth of the market is attributed to increasing demand for lightweight and electric vehicles. Plastics are extensively used in automotive components and parts owing to easy manufacturing, possible sourcing from renewable raw materials, and improved designs.

Global Automotive Plastics Market Outlook

The COVID-19 pandemic had an adverse impact on the automotive plastics market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Automotive Plastics Market Trends, Drivers, Restraints, and Opportunities

Increasing focus on vehicle weight reduction & emission control and improving vehicle design are expected to drive the market during the forecast period.
Growing demand from consumers for high-performance, lightweight, and fuel-efficient vehicles are estimated to surge the market in coming years.
Plastic monomers are polymerized and these materials possess far better properties than their respective monomers and are extremely stable for use in molding and fabrication thereby, fueling the demand for automotive plastics
Plastics are electric conductor as well as an insulator. Therefore, it is used under bonnet applications alternative drive systems, concerning propulsion, and batteries and is likely to boost the market growth.
Slowdown in the automotive industry is projected to impede the market.
R&D investment and technological advancement in automotive plastics market are expected to offer lucrative opportunities for the market players.

Scope of the Automotive Plastics Market Report

The report on the automotive plastics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Automotive Plastics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Material (Polycarbonate, Polymethyl Methacrylate, Polyethylene, Polyvinyl Chloride, Polypropylene, Polyamide, and Others), Application (Interior, Exterior, Under Bonnet, and Others)
Regions	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	BASF SE; SABIC; Dow Inc.; AkzoNobel N.V.; Covestro AG; Evonik Industries AG; Borealis AG; Royal DSM N.V.; Magna International, Inc.; and Teijin Limited.

Automotive Plastics Market Segment insights

The polyethylene segment is projected to constitute a large market share

Based on material, the automotive plastics market is segregated into polycarbonate, polymethyl methacrylate, polyethylene, polyvinyl chloride, polypropylene, polyamide, and others.

The polyethylene segment is expected to account for a key share of the market during the forecast period owing to rising product demand from end-use industries such as packaging, construction, consumer products, electrical and electronics, and automotive; however, polyvinyl chloride segment is anticipated to expand at a rapid pace during the forecast period owing to its applications in sealants, underbody coatings, and floor modules, wire harnesses, passenger compartment parts, and exterior parts.

The under bonnet segment is expected to register a substantial CAGR

Based on application, the market is divided into interior, exterior, under bonnet, and others. The under bonnet segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to properties such as heat and chemical resistance of plastics which is most crucial for under bonnet applications such as turbo chargers, is making it possible for small engines to meet high-profile performance requirements; however, interior segment is anticipated to expand at a rapid pace during the forecast period owing to growing demand for automotive plastics in an area such as seat covers, body and light panels, seat bases, steering wheels, headliners, load floors, and rear package shelves and fascia systems are expected to drive the market of automotive plastics.

Global Automotive Plastics Market application

Asia Pacific is expected to dominate the market

In terms of regions, the market is broadly classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. Shifting production bases from developed regions to emerging economies of Asia Pacific is expected to drive the market growth in near future. Furthermore, growing manufacturing base and increasing investments in advanced technologies for vehicular production in this region are projected to propel the market growth in near future.

Global Automotive Plastics Market region

Segments

The automotive plastics market has been segmented on the basis of:-

Material

Polycarbonate
Polymethyl Methacrylate
Polyethylene
Polyvinyl Chloride
Polypropylene
Polyamide
Others

Application

Interior
Exterior
Under Bonnet
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Companies

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

Competitive Landscape

Key players competing in the 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.; and Teijin Limited.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Global Automotive Plastics Market keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Plastics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Plastics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Plastics Market - Supply Chain
  4.5. Global Automotive Plastics Market Forecast
     4.5.1. Automotive Plastics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Plastics Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Automotive Plastics Market Absolute $ Opportunity
5. Global Automotive Plastics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Plastics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Plastics Demand Share Forecast, 2019-2026
6. North America Automotive Plastics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Plastics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Plastics Demand Share Forecast, 2019-2026
7. Latin America Automotive Plastics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Plastics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Plastics Demand Share Forecast, 2019-2026
8. Europe Automotive Plastics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Plastics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Plastics Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Plastics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Plastics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Plastics Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Plastics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Plastics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Plastics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Plastics Market: Market Share Analysis
  11.2. Automotive Plastics Distributors and Customers
  11.3. Automotive Plastics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. BASF SE
     11.4.2. SABIC
     11.4.3. Dow Inc.
     11.4.4. AkzoNobel N.V.
     11.4.5. Covestro AG