According to a new market report published by Lucintel, the future of the automotive plastics market looks promising with opportunities in the passenger cars, light commercial vehicles, and heavy commercial vehicles. The automotive plastics market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $21.3 billion by 2025 with a CAGR of 0% to 2% from 2020 to 2025. The major drivers of growth for this market are increasing demand for lightweight materials for OEMs to reduce vehicle weight in response to stringent government regulations on fuel economy. Other major driver includes growth of the global vehicle production which is expected to grow at a CAGR of 1.9% during the forecast period and to reach 108.2 million units by 2025.
Browse 157 market data tables and 182 figures spread through 299 pages and in-depth TOC on “Automotive Plastics Market"
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Polypropylene, polyurethane, polyamide, polyvinyl chloride, and acrylonitrile butadiene styrene are the major polymer types used for the production of automotive parts. On the basis of its comprehensive research, Lucintel forecasts that the polypropylene, polyurethane, and polyamide segments will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the automotive plastics market. The passenger car segment is expected to show above average growth during the forecast period due to increasing plastic content per vehicle in emerging applications like oil pans, wheel rims, and battery trays.
Interior, exterior, under the hood, and electrical components are the major application segments of the automotive plastic market. On the basis of its comprehensive research, Lucintel forecasts that interior and exterior applications will show above average growth during the forecast period.
Europe is expected to remain the largest region due to increasing use of plastic content per vehicle coupled with stringent government regulations to reduce carbon emissions and to increase fuel efficiency. Asia Pacific is expected to witness significant growth over the forecast period because of high vehicle production and gradually increasing plastic content per vehicle.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of recycling technologies for plastics and replacement of PA 66 with cheaper and advanced PA 6. BASF, Lyondellbassell, Du Pont. Co, Borealis AG, Dow Chemicals, solvay, DSM, SABIC, EXXON Mobile and Arkema are the major plastic suppliers in the automotive plastics market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive plastic market by polymer, vehicle type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Automotive Plastics Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive plastics market by polymer, vehicle type, application, and region, as follows:
By polymer ($ Million and million pounds from 2014 to 2025)
Polypropylene
Polyurethane
Polyamide
PVC
ABS
Polycarbonates
Polyethylene
PMMA
Other Plastics
By Vehicle Type ($ Million and million pounds from 2014 to 2025)
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Application ($ Million and million pounds from 2014 to 2025)
Interior
Exterior
Under the Hood
Electrical Components
By Application ($ Million and million pounds for 2019)
Interior
Seating
Dashboard
Trims
Others
Exterior
Bumpers
Trims
Lightings
Fuel systems
Others
Under the Hood
Air intake manifolds
Engine covers
Rocker covers
Front end module
Fuel lines
Other components
Electrical Components
By Region ($ Million and million pounds from 2014 to 2025)
North America
Europe
Germany
France
Russia
United Kingdom
Italy
Asia Pacific
China
Japan
India
South Korea
Indonesia
The Rest of the World
This 299-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-plastics-market.aspx or helpdesk@lucintel.com.
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