The Automotive Plastics Market was valued at USD 28.61 Bn in 2021, at CAGR of 4.65% during the forecast period (2022-2030), and the Market is projected to be worth USD 43.07 Bn by 2030.
The increased adoption of Automotive Plastics in the Petrochemicals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Automotive Plastics also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Automotive Plastics in many sectors also boosts the market growth during the forecast period.
Numerous external and interior automobile components, such as bumpers, doors, safety and security windows, headlight and side view mirror housing, trunk lids, hoods, grilles, and wheel covers, are made utilising plastics and engineered polymers. These high-performance polymers are employed in the automobile sector because of their exceptional mechanical and aesthetic qualities. By lowering weight, these high-performance plastics improve the energy efficiency of automobiles while also offering cheap cost, excellent performance, toughness, corrosion resistance, durability, and design freedom.
Automotive Plastics Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, High-Density Polyethylene, Polycarbonate, Polybutylene Terephthalate), Process (Thermoforming, Injection Molding, Blow Molding) Application (Interior, Exterior, Under Bonnet, Powertrain, Electrical Components, Chassis), and companies (Momentive Performance Materials, Evonik Industries, BASF SE, Arkema Group, DuPont De Nemours, Inc., The Dow Chemical Company, Hexion Inc., Hanwha Group, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 4.65%, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||43.07 Billion|
|By Type||Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, High-Density Polyethylene, Others|
|By Application||Interior, Exterior, Under Bonnet, Powertrain, Electrical Components, Chassis|
|By Process||Thermoforming, Injection Molding, Blow Molding|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Momentive Performance Materials, Evonik Industries, BASF SE, Arkema Group, DuPont De Nemours, Inc., The Dow Chemical Company, Hexion Inc., Hanwha Group, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V.|
The COVID-19 pandemic has had a substantial negative influence on the Automotive Plastics market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Momentive Performance Materials, Evonik Industries, BASF SE, Arkema Group, DuPont De Nemours, Inc., The Dow Chemical Company, Hexion Inc., Hanwha Group, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V.
Market Segment Analysis:
- Polyvinyl Chloride
- Acrylonitrile butadiene styrene
- High density polyethylene
- Polyethylene terephthalate
- Polymethyl methacrylate
- Under Bonnet
- Injection Molding
- Blow Molding
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Automotive Plastics industries in the region.
Key Automotive Plastics Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Automotive Plastics Market segments.
– Largest Market Share Held by Industry to Industry for Automotive Plastics
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Automotive Plastics Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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