Automotive Plastics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Automotive Plastics market size is expected to be worth around US$ 48.7 billion by 2030, according to a new report by Vision Research Reports.

The global Automotive Plastics market size was valued at US$ 38.1 billion in 2020 and is anticipated to grow at a CAGR of 5.4% during forecast period 2021 to 2030.

Growth Factors

A rising preference for high-performance plastics to substitute conventional metals and rubber is expected to impel market growth.

The polyurethane product segment is anticipated to witness significant growth over the forecast period owing to its ability to infuse the characteristics of both plastics and rubber at a lower weight compared to metal and other plastic materials. Increasing product demand from the automotive industry for use in refrigeration insulation, interior trims, and seat cushioning is expected to boost product demand over the forecast period.

On the basis of application, the market is segmented into powertrain, electrical components, interior furnishings, exterior furnishings, under the hood, and chassis. Among them, the power train application segment is expected to witness the fastest growth over the forecast period. The rising application of plastics in powertrain engineering is expected to support market growth in the coming years. It helps the manufacturers of vehicles reduce weight and integrate complex parts, which ultimately boosts performance, delivers higher productivity, and cost savings. According to research conducted by E. I. du Pont de Nemours and Company, currently, plastics penetration stands at 110-120 kilograms per car depending on the engine size and region, while manufacturers are still exploring other new opportunities for the usage of plastics.

In Asia Pacific, the market is expected to witness the fastest CAGR during the forecast period. The growing automotive industry coupled with the rising population and increasing disposable income of middle-class families in the emerging economies of the region is likely to be the primary driving factor in coming years. Moreover, strong government support and initiatives and increasing investment by the government is also propelling the growth of the automotive industry in the region, which, in turn, is anticipated to fuel demand for the product in the region.

Report Highlights

The polypropylene segment led the market for automotive plastics and accounted for the largest revenue share of more than 32.0% in 2020. This growth can be attributed to the rising product demand from end-use industries such as packaging, electrical and electronics, construction, consumer products, and automotive.

Polypropylene finds application in both rigid and flexible packaging owing to its physical and chemical properties. Apart from this, it offers excellent chemical and electrical resistance at very high temperatures. PP is quite lightweight as compared to other plastics making it suitable for application in the automotive sector for reducing the overall weight of vehicles, which, in turn, helps reduce fuel consumption and carbon dioxide emissions.

Polyvinyl chloride emerged as the second-largest product segment in 2020. PVC is used in a broad range of domestic and industrial products such as raincoats, shower curtains, window frames, and indoor plumbing. Its major automotive applications include underbody coatings, sealants, and floor modules, wire harnesses, passenger compartment parts, and exterior parts.

The injection molding segment led the automotive plastics market and accounted for the largest revenue share of more than 56.0% in 2020. The high share is attributed to the application of the broad range of injection-molded plastics in the automotive industry to manufacture door handles, engine hoses and tubes, console and dashboard covers and brackets, radio covers and other electrical internal components, buttons and bezel panels, knobs for shifter levers, controls and covers for the sunroof, and convertible roof assemblies.

Injection molding is one of the most common processes used in the automotive industry to mold plastic. It is a process of creating customized plastic parts and fittings by injecting molten plastic material into a metal mold under high pressure. Modern innovations to minimize the error rate have increased the importance of injection molding technology in the mass production of complicated plastic molds.

Apart from this, the blow molding process is also widely used in the automotive industry owing to its advantage of making more complex products in various designs and shapes that would otherwise be challenging with other technologies with the cost of the end product being significantly higher. This process allows companies to increase their production output in a relatively short period while maintaining flexibility in terms of design and materials. However, it has few drawbacks such as high machine cost and the use of large machines that take up more space is restraining their usage small scale industry.

The interior furnishings segment led the market for automotive plastics and accounted for the largest revenue share of more than 44.0% in 2020. Growing demand for automotive plastics in an area such as body and light panels, seat covers, steering wheels, seat bases, load floors, headliners, and rear package shelves and fascia systems is projected to boost the market for automotive plastics over the forecast period.

Moreover, the proliferation of digitalization has fostered the demand for plastics integrated into car dashboards to support highly advanced electronics. Safety concerns and high electrical insulation properties of plastics have also propelled their demand in instrument panels containing advanced electronic systems. Plastics such as PVC exhibit excellent chemical & solvent resistance with good tensile strength and flexibility, which makes them highly suitable for instrument panels and other electrical components.

Asia Pacific dominated the market for automotive plastics and accounted for the largest revenue share of over 45.0% in 2020. Shifting production bases from developed regions to emerging economies of Asia Pacific, particularly in China, India, Thailand, Vietnam, and Indonesia, is expected to boost the market growth. Expanding the manufacturing base and increasing investments in advanced technologies for vehicular production is expected to bring about a new era of automobiles, positively influencing the market for automotive plastics. Consumers in Europe and APAC are highly conscious regarding fuel-efficiency. This has also driven the demand for sustainable plastics.

Europe was the second-largest market for automotive plastics and accounted for a revenue share of more than 31.0% in 2020. Automobile manufacturers in Europe are using high-performance plastics as these materials are energy-efficient and help in a weight reduction of the vehicle. Strict emission standards in the region have forced automakers in European countries to shift from diesel engines to electrified motors. This is also expected to augment product demand over the forecast period.

Key Players

  • BASF SE

  • SABIC

  • Dow Inc.

  • AkzoNobel N.V.

  • Covestro AG

  • Evonik Industries AG

  • Borealis AG

  • Royal DSM N.V.

  • Magna International, Inc.

  • Teijin Limited

Market Segmentation

  • Product Outlook 

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polypropylene (PP)

      • PP LGF 20

      • PP LGF 30

      • PP LGF 30Y

      • Others

    • Polyurethane (PU)

    • Polyvinyl Chloride (PVC)

    • Polyethylene (PE)

    • Polycarbonate (PC)

    • Polymethyl Methacrylate (PMMA)

    • Polyamide (PA)

    • Others

  • Process Outlook

    • Injection Molding

    • Blow Molding

    • Thermoforming

    • Other

  • Application Outlook 

    • Powertrain

      • Polyethylene (PE)

      • Polypropylene (PP)

      • Polyvinyl Chloride (PVC)

      • Polyurethane (PU)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polycarbonate (PC)

      • Polyamide (PA)

      • Others

    • Electrical Components

      • Polyamide (PA)

      • Polypropylene (PP)

      • Polymethyl Methacrylate (PMMA)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polyvinyl Chloride (PVC)

      • Others

    • Interior Furnishings

      • Polyurethane (PU)

      • Polypropylene (PP)

      • Polymethyl Methacrylate (PMMA)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polyvinyl Chloride (PVC)

    • Exterior Furnishings

      • Polypropylene (PP)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polyvinyl Chloride (PVC)

      • Polyurethane (PU)

      • Polyamide (PA)

    • Under the Hood

      • Polyethylene (PE)

      • Polypropylene (PP)

      • Polyamide (PA)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polyurethane (PU)

    • Chassis

      • Polyethylene (PE)

      • Polypropylene (PP)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polyamide (PA)

      • Polyurethane (PU)

      • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Southeast Asia

    • Central & South America

      • Brazil

    • Middle East & Africa

The Automotive Plastics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Automotive Plastics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Automotive Plastics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Plastics market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Plastics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Automotive Plastics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Automotive Plastics by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Plastics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Plastics market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Plastics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Automotive Plastics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Automotive Plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Plastics market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Plastics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Plastics market. These factors have benefited the growth of the global market for Automotive Plastics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Plastics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Automotive Plastics are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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