Automotive Plastics Market Share, Size, Trends, Industry Analysis Report: By Product, By Process, By Vehicle Type, Application, and Region - Market Forecast, 2024-2032
The global automotive plastics market size is expected to reach USD 59.04 billion by 2032, according to a new study by Polaris Market Research. The report "Automotive Plastics Market Share, Size, Trends, Industry Analysis Report: By Product, Process (Injection Molding, Blow Molding, Thermoforming, Others), Vehicle Type, Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2024-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The automotive industry's shift towards a greener future has made lightweight plastic materials essential for enhancing fuel efficiency and sustainability. With advancements in plastic technology, manufacturers are increasingly replacing traditional heavy materials with lightweight plastics. This transition reduces vehicle weight without compromising safety or performance, significantly improving fuel efficiency and driving the growth of the automotive plastics market.
The market is also poised for growth due to advancements in hydrogen storage technologies, especially with the rise of hydrogen vehicles. Lightweight carbon fiber, for instance, is crucial in the construction of hydrogen storage tanks, such as Toray's carbon fiber used in 70 MPa cylinders. Innovations like Evonik's curing agent "VESTAMIN" and Ancamine's rapid fiber infiltration technology enable a 70% weight reduction in these tanks. This emphasis on lightweight and efficient storage solutions not only supports sustainability goals but also increases demand for plastic materials in automotive applications.
The rising demand for electric vehicles (EVs) has led to increased use of lightweight materials such as automotive plastics to improve EV engine efficiency and pulling capacity. This trend is driven by environmental awareness, government support, growing OEM investments, and the entry of major automotive companies into the EV market, fueling significant growth in the automotive plastics market.
Automotive Plastics Market Report Highlight
The polypropylene segment, based on product, dominated the automotive plastics market in 2023, owing to its high electrical resistance at very high temperatures.
In terms of application, the exterior furnishing segment will grow at a substantial pace during the forecast period as polycarbonate and polypropylene can be used to provide an aesthetic look to exterior of vehicles.
Asia Pacific dominated the global automotive plastics market in 2023 owing to the presence of expanding automotive industry
Arkema, BASF, Borealis, DSM Engineering, Evonik Industries, LANXESS, LG Chem, Covestro AG, and Arkal Automotive are among the global market players.
Polaris Market Research has segmented the automotive plastics market report on the basis of product, process, vehicle type, application, and region.
By Product Outlook (Revenue - USD Billion, 2019-2032)
Acrylonitrile Butadiene Styrene (ABS)
Polypropylene (PP)
PP LGF 20
PP LGF 30
PP LGF 40
Others
Polyurethane (PU)
Polyvinyl Chloride (PVC)
Rigid PVC
Flexible PVC
Polyethylene (PE)
High-density Polyethylene (HDPE)
Other PE Grades
Polybutylene Terephthalate (PBT)
Polycarbonate (PC)
Polymethyl methacrylate (PMMA)
Polyamide (Nylon 6, Nylon 66)
Others
By Process Outlook (Revenue - USD Billion, 2019-2032)
Injection Molding
Blow Molding
Thermoforming
Others
By Vehicle Type Outlook (Revenue - USD Billion, 2019-2032)
Passenger Cars
Internal Combustion Engine (ICE) Vehicles
Electric Vehicles
Light Commercial Vehicles
Medium & Heavy Commercial Vehicles
By Application Outlook (Revenue - USD Billion, 2019-2032)
Powertrains
Electrical Components
Interior Furnishing
IMD or IML
Others
Exterior Furnishing
Under the hood
Chassis
By Regional Outlook (Revenue - USD Billion, 2019-2032)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Table of Contents
1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Automotive Plastics Market Insights
4.1. Automotive Plastics Market - Market Snapshot
4.2. Automotive Plastics Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Strong Emission Measures is Driving the Market Size
4.2.1.2. Growing Demand of Electric Vehicle Are Driving the Market Growth
4.2.2. Restraints and Challenges
4.2.2.1. High Initial Investment
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Automotive Plastics Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Automotive Plastics Market, by Product
5.1. Key Findings
5.2. Introduction
5.2.1. Global Automotive Plastics Market, by Product, 2019-2032 (USD billion)
5.3. Acrylonitrile Butadiene Styrene (ABS)
5.3.1. Global Automotive Plastics Market, by Acrylonitrile Butadiene Styrene (ABS), by Region, 2019-2032 (USD billion)
5.4. Polypropylene (PP)
5.4.1. Global Automotive Plastics Market, by Polypropylene (PP), by Region, 2019-2032 (USD billion)
5.4.2. PP LGF 20
5.4.3. Global Automotive Plastics Market, by PP LGF 20, by Region, 2019-2032 (USD billion)
5.4.4. PP LGF 30
5.4.5. Global Automotive Plastics Market, by PP LGF 30, by Region, 2019-2032 (USD billion)
5.4.6. PP LGF 40
5.4.7. Global Automotive Plastics Market, by PP LGF 40, by Region, 2019-2032 (USD billion)
5.4.8. Others
5.4.9. Global Automotive Plastics Market, by others, by Region, 2019-2032 (USD billion)
5.5. Polyurethane (PU)
5.5.1. Global Automotive Plastics Market, by Polyurethane (PU), by Region, 2019-2032 (USD billion)
5.6. Polyvinyl Chloride (PVC)
5.6.1. Global Automotive Plastics Market, by Polyvinyl Chloride (PVC), by Region, 2019-2032 (USD billion)
5.6.2. Rigid PVC
5.6.2.1. Global Automotive Plastics Market, by Rigid PVC, by Region, 2019-2032 (USD billion)
5.7. Flexible PVC
5.7.1. Global Automotive Plastics Market, by Flexible PVC, by Region, 2019-2032 (USD billion)
5.8. Polyethylene (PE)
5.8.1. Global Automotive Plastics Market, by Polyethylene (PE), by Region, 2019-2032 (USD billion)
5.8.2. High-density Polyethylene (HDPE)
5.8.2.1. Global Automotive Plastics Market, by High-density Polyethylene (HDPE), by Region, 2019-2032 (USD billion)
5.8.3. Other PE Grades
5.8.3.1. Global Automotive Plastics Market, by Other PE Grades, by Region, 2019-2032 (USD billion)
5.9. Polybutylene Terephthalate (PBT)
5.9.1. Global Automotive Plastics Market, by Polybutylene Terephthalate (PBT), by Region, 2019-2032 (USD billion)
5.10. Polycarbonate (PC)
5.10.1. Global Automotive Plastics Market, by Polycarbonate (PC), by Region, 2019-2032 (USD billion)
5.11. Polymethyl Methacrylate (PMMA)
5.11.1. Global Automotive Plastics Market, by Polymethyl Methacrylate (PMMA), by Region, 2019-2032 (USD billion)
5.12. Polyamide (Nylon 6, Nylon 66)
5.12.1. Global Automotive Plastics Market, Polyamide (Nylon 6, Nylon 66), by Region, 2019-2032 (USD billion)
5.13. Others
5.13.1. Global Automotive Plastics Market, Others, by Region, 2019-2032 (USD billion)
6. Global Automotive Plastics Market, by Process
6.1. Key Findings
6.2. Introduction
6.2.1. Global Automotive Plastics Market, by Process, 2019-2032 (USD billion)
6.3. Injection Molding
6.3.1. Global Automotive Plastics Market, by Injection Molding, by Region, 2019-2032 (USD billion)
6.4. Blow Molding
6.4.1. Global Automotive Plastics Market, by Blow Molding, by Region, 2019-2032 (USD billion)
6.5. Thermoforming
6.5.1. Global Automotive Plastics Market, by Thermoforming, by Region, 2019-2032 (USD billion)
6.6. Others
6.6.1. Global Automotive Plastics Market, by others, by Region, 2019-2032 (USD billion)
7. Global Automotive Plastics Market, by Vehicle Type
7.1. Key Findings
7.2. Introduction
7.2.1. Global Automotive Plastics Market, by Vehicle Type, 2019-2032 (USD billion)
7.3. Passenger Cars
7.3.1. Global Automotive Plastics Market, by Passenger Cars, by Region, 2019-2032 (USD billion)
7.3.2. Internal Combustion Engine (ICE) Vehicles
7.3.2.1. Global Automotive Plastics Market, by Internal Combustion Engine (ICE) Vehicles, by Region, 2019-2032 (USD billion)
7.3.3. Electric Vehicles
7.3.3.1. Global Automotive Plastics Market, by Electric Vehicles, by Region, 2019-2032 (USD billion)
7.4. Light Commercial Vehicle
7.4.1. Global Automotive Plastics Market, by Light Commercial Vehicle, by Region, 2019-2032 (USD billion)
7.5. Medium and Heavy Commercial Vehicle
7.5.1. Global Automotive Plastics Market, by Medium and Heavy Commercial Vehicle, by Region, 2019-2032 (USD billion)
8. Global Automotive Plastics Market, by Application
8.1. Key Findings
8.2. Introduction
8.2.1. Global Automotive Plastics Market, by Application, 2019-2032 (USD billion)
8.3. Powertrain
8.3.1. Global Automotive Plastics Market, by powertrain, by Region, 2019-2032 (USD billion)
8.4. Electrical Components
8.4.1. Global Automotive Plastics Market, by Electrical Components, by Region, 2019-2032 (USD billion)
8.5. Interior Furnishing
8.5.1. Global Automotive Plastics Market, by interior furnishing, by Region, 2019-2032 (USD billion)
8.5.2. IMD or ML
8.5.2.1. Global Automotive Plastics Market, by IMD or ML, by Region, 2019-2032 (USD billion)
8.5.3. Others
8.5.3.1. Global Automotive Plastics Market, by Others, by Region, 2019-2032 (USD billion)
8.6. Exterior Furnishing
8.6.1. Global Automotive Plastics Market, by Exterior Furnishing, by Region, 2019-2032 (USD billion)
8.7. Under the Hood
8.7.1. Global Automotive Plastics Market, by Under the Hood, by Region, 2019-2032 (USD billion)
8.8. Chassis
8.8.1. Global Automotive Plastics Market, by Chassis, by Region, 2019-2032 (USD billion)
9. Global Automotive Plastics Market, by Geography
9.1. Key Findings
9.2. Introduction
9.2.1. Automotive Plastics Market Assessment, By Geography, 2019-2032 (USD billion)
9.3. Automotive Plastics Market - North America
9.3.1. North America: Automotive Plastics Market, by Product, 2019-2032 (USD billion)
9.3.2. North America: Automotive Plastics Market, by Process, 2019-2032 (USD billion)
9.3.3. North America: Automotive Plastics Market, by Vehicle Type, 2019-2032 (USD billion)
9.3.4. North America: Automotive Plastics Market, by Application, 2019-2032 (USD billion)
9.3.5. Automotive Plastics Market - U.S.
9.3.5.1. U.S.: Automotive Plastics Market, by Product, 2019-2032 (USD billion)
9.3.5.2. U.S.: Automotive Plastics Market, by Process, 2019-2032 (USD billion)