Global Automotive Plastic Market Overview :
Global automotive plastic market is estimated to reach $66.6 Billion by 2025; growing at a CAGR of 11.6% till 2025. Plastic plays a very important role in the automotive industry due to its ease of manufacturing, substantial design liberty, recyclability, safety, less risk of corrosion, and comfort. It also plays an important role in the performance of the vehicle as they are scratch resistant, enhance noise and vibration control, and recyclable. Environmental obligations and strict rules have forced the automobile industry to seek a safe and lightweight alternative. The most common plastic materials used in the automotive industry are Polyurethane, Acrylonitrile Butadiene Styrene, and Polycarbonate.
Global Automotive Plastic Market: Growth Factors
Rising demand for light weight vehicles, tight emission control norms, stringent government rules are the factors fueling market growth. Moreover, growing prices of steel and iron, and improved durability are also driving the growth of the market. However, non-degradable nature of plastic and high cost of raw material might hinder the market growth.
Global Automotive Plastic Market: Segmentation
The global automotive plastic market is mainly classified on the basis of product and application. On the basis of product, the market is categorized as acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), polyethylene (PE), polycarbonate (PC), polymethyl methacrylate (PMMA), polyamide (PA) and others. Based on application, the market is divided into powertrain, electrical components, interior furnishings, exterior furnishings, under the hood components, and chassis.
Global Automotive Plastic Market: Regional Analysis
Based on geography, the global automotive plastic market is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further categorized as U.S., Canada, and Mexico, where Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is divided into South America, the Middle East, and Africa
Global Automotive Plastic Market: Competitive Players
Key players operating in the market include AkzoNobel N.V., BASF SE, Covestro AG, Evonik Industries AG, Johnson Controls, Magna International, Momentive Performance Materials Inc., SABIC, The Dow Chemical Company, Hanwha Azdel Inc., Borealis AG, and Lear Corporation.
Automotive Plastic Market Key Segments:
- Acrylonitrile butadiene styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polymethyl methacrylate (PMMA)
- Polyamide (PA)
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under the Hood Components
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East
Key Market Players
- AkzoNobel N.V.
- BASF SE
- Covestro AG
- Evonik Industries AG
- Johnson Controls
- Magna International
- Momentive Performance Materials Inc.
- The Dow Chemical Company
- Hanwha Azdel Inc.
- Borealis AG
- Lear Corporation
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market