What Has Been the Growth of the Exterior Automotive Plastics Market So Far?
The exterior automotive plastics market has seen considerable growth due to a variety of factors.
•There has been significant growth in the exterior automotive plastics market in the past few years. Its size is expected to increase from $12.7 billion in 2024 to $13.47 billion in 2025, witnessing a compound annual growth rate (CAGR) of 6.1%.
Factors contributing to this growth during the historic period include the industrialization of livestock farming, improvement in animal health and productivity, variations in the price of feed ingredients, the worldwide spread of livestock production, increased awareness about nutrition, and regulatory backing.
What Are the Future Growth Projections for the Exterior Automotive Plastics Market?
The exterior automotive plastics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of exterior automotive plastics is projected to experience significant growth in the coming years, rising to "$17.38 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to this growth during the forecast period include an increase in demand for aquaculture feed, alternative protein sources, biosecurity issues, effects of climate change, and a surge in demand for animal protein. Key trends during this period include advancements in feed formulation technology, increased transparency and traceability, adoption of digital technologies, innovation in feed additives, and an emphasis on sustainable sourcing.
What Factors Are Driving Growth In The Exterior Automotive Plastics Market?
The growth of the exterior automotive plastics market is anticipated to be fuelled by increasing demand from the automotive sector. The automotive sector encompasses the manufacture and sale of various types of vehicles, including passenger vehicles, hybrid vehicles, and motorcycles. Exterior automotive plastics are crucial components in the automotive sector, as they're employed in the creation of numerous exterior vehicle parts, ranging from body panels, bumpers, and grilles to mirrors and trims. Their lightweight, durability, and corrosion resistance often make them more desirable than conventional materials like steel or aluminum. For example, the European Automobile Manufacturers Association, a trade group based in Belgium, stated in May 2023 that global motor vehicle production had risen to 85.4 million in 2022, a 5.7% increase from 2021. Thus, the growing demand from the automotive sector is pushing the growth of the exterior automotive plastics market forward.
What Are The Main Segments Of The Global Exterior Automotive Plastics Market?
The exterior automotive plastics market covered in this report is segmented –
1) By Type: Thermoplastic polymers, Composites, Bioplastics
2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Other Vehicle Types
3) By Material: Polyurethane, Polycarbonate, Polypropylene, Polyethylene, Polyamide, Polyvinyl Chloride, Other Materials
4) By Application: Bumpers and Grills, Roof, Lights, Liftgate, Other Applications
Subsegments:
1) By Thermoplastic Polymers: Polypropylene (PP), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyamide (Nylon)
2) By Composites: Glass Fiber Reinforced Plastics (GFRP), Carbon Fiber Reinforced Plastics (CFRP), Natural Fiber Reinforced Plastics
3) By Bioplastics: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Plastics
Pre-Book The Exterior Automotive Plastics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Exterior Automotive Plastics Market?
The increasing uptake of eco-friendly products is a trend that is rapidly gathering traction in the exterior automotive plastics market. Businesses in this sector are incorporating sustainable products to maintain their competitive edge. For example, AkzoNobel NV, a company from the Netherlands known for its paints, coatings, and speciality chemicals, introduced a 2K solvent-borne primer in conductive and dark grey in February 2024. This product was formulated specifically for exterior automotive plastic components, which are known to present adhesion challenges for users. The diminished polarity in plastics like polypropylene leads to insufficient surface energy and poor adhesion, complicating the coating procedures applied to components such as bumpers, rocker panels, and contrasting elements.
Who Are the Key Players in the Exterior Automotive Plastics Market?
Major companies operating in the exterior automotive plastics market include:
• Arkema S.A.
• BASF SE
• Borealis AG
• DuPont de Nemours Inc.
• Royal DSM N.V.
• Evonic Industries AG
• ExxonMobil Corporation
• Lanxess
• LyondellBasell Industries N.V.
• Convestro AG
• Saudi Arabia's Basic Industries Corporation
• Celanese Corporation
• Salem Industrial Plastics
• Lear Corporation
• Magna International Inc.
• Trinseo S.A.
• Adient plc
• Flex-N-Gate Corporation
• Solvay S.A.
• Teijin Limited
• DSM Engineering Plastics
• LG Chem Ltd.
• Kuraray Co. Ltd.
• Toyoda Gosei Co. Ltd.
• Sumitomo Chemical Company Limited
• Asahi Kasei Corporation
• Kautex Textron GmbH & Co. KG
• Ravago Group
• Plastic Omnium Group
• Hanwha Advanced Materials Corp.
What Is The Most Dominant Region In The Exterior Automotive Plastics Market?
Asia-Pacific was the largest region in the exterior automotive plastics market in 2024. The regions covered in the exterior automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
