Global Automotive Plastics Market to reach USD 41.83 Bn at a CAGR of 7.9 percent over the forecast period

Global Automotive Plastics Market to reach USD 41.83 Bn at a CAGR of 7.9 percent over the forecast period
Automotive Plastics Market
Global Automotive Plastics Market is segmented based on Product Type, Application, and End Use. A bottom-up approach was used to estimate the Global Automotive Plastics Market size.

Maximize Market Research, a global Material and Chemical market research firm has published a market research report on the Global Automotive Plastics Market”. The Global Automotive Plastics Market size was valued at USD 24.56 Bn in 2023. The total Global Automotive Plastics Market revenue is expected to grow at a CAGR of 7.9 percent from 2024 to 2030, reaching USD 41.83 Bn during the forecast period.

Global Automotive Plastics Market Report Scope and Research Methodology

Market Size in 2023: USD 24.56 Billion

Market Size in 2030: USD 41.83 Billion

CAGR: 7.9 Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 230

No. of Tables: 138

No. of Charts and Figures: 191

Segment Covered: By Product Type, Application, and End Use.

Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Global Automotive Plastics Market Scope and Research Methodology

The report contains detailed research on various business tactics of top companies, such as collaborations, mergers, takeovers, and partnerships. The report utilized a SWOT analysis to assess the company’s overall market position by identifying its strengths, weaknesses, opportunities, and threats. Analytical methods such as investment return analysis, feasibility study, and Porter’s five forces analysis were utilized to analyze the Global Automotive Plastics market. The global and regional automotive plastic market sizes have been calculated through the bottom-up approach.

The report provides a comprehensive examination of the Global Automotive Plastics Market, including a competitive analysis that highlights company profiles, financial performance, product portfolios, and strategic initiatives of leading players in the sector. It also explores critical insights such as primary factors driving market growth, challenges faced by participants, and opportunities for global growth. Additionally, the report offers an in-depth assessment of market players’ investments geared towards expanding their presence on the international stage, making it an essential resource for investors seeking valuable market insights.

Global Automotive Plastics Market Overview

The global automotive plastics industry is witnessing substantial growth and evolution fuelled by several factors including technological progress, regulatory demands, consumer choices, and sustainability efforts. Plastics play a pivotal role in modern vehicles, offering benefits like weight reduction, design adaptability, enhanced fuel efficiency, and cost-effectiveness. A key catalyst for the automotive plastics sector is the rising need for lightweight materials to enhance fuel economy and mitigate carbon emissions. Plastics are progressively replacing conventional materials such as metal and glass across various automotive parts like exterior panels, interior trim, engine components, and structural elements, thereby aiding in overall vehicle weight reduction.

Global Automotive Plastics Market Dynamics

Plastics serve a crucial function in electric vehicles and hybrids, primarily as insulators but also as conductors when needed. It is essential in under-bonnet applications related to propulsion, alternative drive systems, and batteries. Plastics contribute to making electric and hybrid vehicle batteries more cost-effective and valuable by substituting heavy electric cells with lighter alternatives, thus achieving significant weight reductions. It encourages the adoption of automotive plastics and drives investment in advanced polymers tailored for specific components, ensuring durability and performance. Over the years, the utilization of automotive plastics has seen substantial growth.

Global Automotive Plastics Market Regional Analysis

Asia Pacific region held the largest Global Automotive Plastics Market share in 2023 and is expected to dominate the market over the forecast period. In the Asia Pacific, a preference for smaller families and compact cars, coupled with rising per capita disposable income, is fueling market growth. Economic growth, tax adjustments, and governmental efforts to attract foreign investment in the automotive industry are propelling the Asia-Pacific automotive plastics market.

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Global Automotive Plastics Market Segmentation

By Product Type

  • Polypropylene
  • Polyurethanes
  • Polyvinyl Chloride
  • Acrylonitrile butadiene styrene
  • High-density polyethylene
  • Polycarbonates
  • Polymethyl methacrylate
  • Polyamide
  • Polyethylene terephthalate

By Application

  • Exterior
  • Interior
  • Under Bonnet

Based on the Application, the Interior segment held the largest market share and is expected to increase with a growing CAGR through the forecast period. The interior application dominates the market because plastics are increasingly being utilized in these applications to offer impact resistance and dimensional stability.

By End Use

  • Conventional Vehicles
  • Electric Vehicles

Global Automotive Plastics Market key players include

  • Magna International Inc.
  • Valeo
  • Denso
  • Plascar Participações
  • Lear Corporation
  • Forvia Hella
  • Toyota Boshoku
  • Keko Acessórios
  • Flex-N-Gate Corporation
  • Webasto Group
  • Samvardhana Motherson International
  • Randoncorp
  • Faurecia
  • ElringKlinger
  • Yanfeng Automotive Interiors
  • ABC Technologies
  • Gestamp Automocion
  • Hyundai Mobis
  • Algonquin Automotive
  • Novares Group
  • Kasai Kogyo Company
  • Celanese
  • Nifco
  • XXX

Key questions answered in the Global Automotive Plastics Market are:

  • What are Global Automotive Plastics Market?
  • What was the Global Automotive Plastics market size in 2024?
  • What is the expected Global Automotive Plastics market size by 2030?
  • What is the demand pattern for the Global Automotive Plastics market?
  • Which segment dominated the Global Automotive Plastics market growth?
  • Who is the largest key player in the Global Automotive Plastics Market Growth?
  • Which region held the largest share in the Global Automotive Plastics market?
  • Who are the key players in the Global Automotive Plastics market?
  • What is the growth rate of the Global Automotive Plastics Market?
  • Which are the factors expected to drive the Global Automotive Plastics market growth?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by Different Segment | 2024−2030
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by Product Type, End Use, and Application.
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Material and Chemical research firm, has also published the following reports:

Plastic Extrusion Molded Parts MarketThe total market size was valued at USD 162.34 Bn in 2023 and is expected to reach USD 217.98 Bn by 2030, at a CAGR of 4.3 percent. The market is driven by factors such as growing end-use industries, increasing demand for sustainable solutions, and the adoption of advanced manufacturing technologies.

Plastic Films and Sheets MarketThe total market size was valued at USD 136.79 Bn. in 2023 and is expected to grow by 4.5 percent from 2024 to 2030, reaching USD 186.15 Bn. By increasing demand for bi-axially oriented films, several plastic film producers have diverted their manufacturing efforts and invested in bi-axially oriented films. Food packaging is the most common application for these films.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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