The latest market report published by Constancy Researchers “Global Automotive Plastics Market: Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities,Investment Landscape, and Competitive Analysis, 2017 – 2028”
Global Automotive Plastics Market: Overview
The global automotive plastics market was valued at US$ 28,190.5 Million in 2020 and is estimated to grow at a CAGR of 4.7% during the forecast period. The global automotive plastics market is anticipated to witness substantial growth in the years to come due to the increased focus towards lightweight vehicles along with increased emission control policies. The improvements in plastic recycling process along with the increased demand for passenger cars are some other key factors for the growth of the global automotive plastics market over the forecast period. Moreover, the increased demand for high-performance, fuel efficient, and lightweight vehicles are some of the key opportunities for the global automotive plastics market over the upcoming years. Besides, the volatile raw material prices is one of the key factors estimated to hamper the global automotive plastics market growth in the years to come.
Global Automotive Plastics Market: COVID-19 Impact
The impact of COVID-19 has been considered in the global automotive plastics market report published by Constancy Researchers Private Limited. According to Constancy Researchers Private Limited COVID-19 analysis on the global automotive plastics market, the demand for automotive plastics has decreased due to haltin the automotive manufacturing industry worldwide along with the decreased sales of automotive vehicles during the COVID-19 period.
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Global Automotive Plastics Market: Report Highlights
- Based on the product, in 2020, the polypropylene category had a major share in the global automotive plastics market and is estimated to continue its dominance over the forecast period.
- On the basis of process, in the automotive plastics market, the injection molding category had a major share in 2020. This is ascribed to injection molding being one of the most common processes along with its wide application such as engine hoses, console, dashboards, door handles, and others.
- Based on the regional analysis, Asia Pacific had a major share in the automotive plastics market and is projected to grow at the highest rate during the forecast period. This is majorly due to the increased investment in automotive industry along with the enhanced automotive manufacturing in the region. The shift of production base in the emerging economies of Asia Pacific is another key factors for the growth of the Asia Pacific automotive plastics market over the forecast period.
- Mergers & acquisitions, new product launches, strategic partnerships, and collaborations among key players are estimated to be the key strategies in the global automotive plastics market.
- As per the extensive research by Constancy Researchers Private Limited, the global automotive plastics market is highly fragmented in nature owing to the presence of a large number of players at the global, regional, and country-level.
List of Key Players of Global Automotive Plastics Market
- Akzo Nobel N.V.
- BASF SE
- Covestro AG
- Evonik Industries AG
- Adient PLC
- Magna International Inc.
- Momentive Performance Materials Inc.
- SABIC
- Dow Inc.
- Borealis AG
- Hanwha Azdel Inc.
- Lear Corporation
- Owens Corning
- Quadrant AG
- Others
Global Automotive Plastics Market: Segmentation
Constancy Researchers Private Limited has segmented the global automotive plastics market on the basis of product, process, application, end-user, and regional analysis-
Global Automotive Plastics Market: By Product
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polymethyl Methacrylate (PMMA)
- Polyamide (PA)
- Others
Global Automotive Plastics Market: By Process
- Injection Molding
- Blow Molding
- Thermoforming
- Other
Global Automotive Plastics Market: By Application
- Powertrain
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under the hood
- Chassis
Global Automotive Plastics Market: By End-user
- Commercial Vehicles
- Passenger Vehicles
Global Automotive Plastics Market: By Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (LATAM)
- Middle East & Africa (MEA)
- United Arab Emirates (UAE)
- Saudi Arabia
- Rest of Middle East & Africa (MEA)
