Automotive Plastics Market Size is Expected to Reach $51.65 Billion by 2027, At Growth Rate (CAGR) of 4.60%

The global automotive plastics industry reached a value of US$ 38.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 51.65 Billion by 2027 exhibiting a CAGR of 4.60% during 2022-2027.

IMARC Group has recently released a new research study titled, “Automotive Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the automotive plastics market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Automotive Plastics Overview:

The global automotive plastics industry reached a value of US$ 38.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 51.65 Billion by 2027 exhibiting a CAGR of 4.60% during 2022-2027.

What are automotive plastics?

Automotive plastics include polypropylene (PP), acrylonitrile butadiene styrene (ABS), nylon, polyethylene (PE), polyoxymethylene (POM), polyurethane (PU), polyvinyl chloride (PVC), and polycarbonate (PC). These plastics aid in extending the life of automobiles, reducing manufacturing costs, increasing design flexibility, easing integration of components, etc. Automotive plastics also assist in reducing the weight of vehicles by replacing heavy materials, such as glass and metal, to save energy and improve fuel efficiency. As a result, they find widespread applications in powertrains, electrical components, interior and exterior furnishings, chassis, etc.

Request and get a sample brochure for free: https://www.imarcgroup.com/automotive-plastics-market/requestsample

Automotive Plastics Industry’s Trends and Drivers:

The escalating popularity of electric and hybrid vehicles across countries is primarily driving the automotive plastics market. Besides this, the elevating utilization of these materials in the production of carpet fibers, wheel covers, suspension bushings, dashboards, headlamp lenses, fuel tanks, truck bed liners, mud flaps, bumpers, gears, etc., is further augmenting the market growth. Apart from this, the growing demand for synthetic coatings on metal surfaces to minimize the risk of corrosion caused by high heat, salt damage, and water exposure is also catalyzing the global market.

Moreover, the expanding technological advancements and the rising number of research and development (R&D) activities financed by automobile manufacturers are positively influencing the product demand. Furthermore, the leading players are relying on bio-based plastics and polymers instead of fossil-based plastics to promote sustainability and reduce their carbon footprint, which is anticipated to bolster the automotive plastics market in the coming years.

Report Segmentation:

The report has segmented the market on the basis of vehicle type, material and application.

Breakup by Vehicle Type:

Conventional and Traditional Vehicles
Electric Vehicles

Breakup by Material:

Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Acrylonitrile Butadiene Styrene (ABS)
Polyurethane (PU)
Polymethyl Methacrylate (PMMA)
Polycarbonate (PC)
Polyamide
Others

Breakup by Application:

Powertrain
Electrical Components
Interior Furnishings
Exterior Furnishings
Under the Hood
Chassis

Breakup by Region:

North America
Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America
Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=5146&flag=C

Who are the major players in the automotive plastics market?

List of Major Key Players:

Asahi Kasei Corporation
BASF SE
Borealis AG
Covestro AG
Dow Inc.
Koninklijke DSM N.V.
Lanxess AG
Lear Corporation
LyondellBasell Industries N.V.
Saudi Basic Industries Corporation
Solvay S.A
Teijin Limited.

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Browse Our Other Related Reports:

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: +1-631-791-1145
Address:30 N Gould St Ste R
City: Sheridan
State: WY
Country: United States
Website: https://www.imarcgroup.com

Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Automotive Plastics Market Size is Expected to Reach $51.65 Billion by 2027, At Growth Rate (CAGR) of 4.60%