Global Automotive Plastics Market Report 2022 – Market Forecast, Trends And Strategies

The global automotive plastics market size is expected to grow from $33.37 billion in 2021 to $36.29 billion in 2022 at a compound annual growth rate (CAGR) of 8.77%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive plastic market is expected to reach $51.19 billion in 2026 at a CAGR of 8.98%.

What is the Global Automotive Plastics Market?

The automotive plastics market consists of sales of automotive plastic products by entities (organizations, sole traders, and partnerships) that refer to the plastic material that is used in making different vehicle parts. These plastic components mainly replace the various metal parts in automobiles as they provide similar properties such as stiffness, flame retardancy, and others.

Get a Sample of the global automotive plastics market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=5627&type=smp

What drives the Global Automotive Plastics Market?

Increasing demand for lightweight and electric vehicles is significantly contributing to the growth of the automotive plastics market. The increase in the use of plastic components in the automotive industry has boosted the advancements in the design of automobiles. It also reduces the consumption of fuel in vehicles, as less weight requires less energy when the vehicle is accelerated. It is estimated that there will be 10 million electric cars on the road by the next decade. Therefore, the increasing demand for lightweight and electric vehicles is driving the growth of the automotive plastics market.

Get the full global automotive plastics industry report here

Global Automotive Plastics Market Segments
The global automotive plastics market is segmented:
By Vehicle Type: Conventional/Traditional Vehicles, Electric Vehicles
By Product Type: Polypropylene (PP), Polyurethane (PU), Polyvinylchloride (PVC), Polyamide (PA), Acrylonitrile Butadiene Styrene (ABS), High Density Polyethylene (HDPE), Polycarbonate (PC), Polybutylene Terephthalate (PBT)
By Application: Interior, Exterior, Under Bonnet
By Geography: The regions covered in the automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Automotive Plastics Global Market Report 2022 provides market size and growth forecasts for the global automotive plastics market, global automotive plastics market share, automotive plastics market segments and geographies, automotive plastics market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive plastics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Automotive Plastics Industry Players include BASF SE, Borealis AG, Covestro AG, DuPont, Evonik Industries, SABIC, Magna International, Inc., Akzo Nobel N.V, Arkema SA, Grupo Antolin-Irausa S.A, LyondellBasell Industries Holdings BV, Momentive Performance Materials Inc, Teijin Limited, The Dow Chemical Company, and Zoltek Companies Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.