Automotive plastic Market Size by 2032

By the increase in number of automobile, by the increase in population, by the growth of automobile sector are the factors for the growth of the Automotive plastic market.

Automotive plastic Market Size – USD 29.22 Billion in 2018, Growth - CAGR of 11.1%, Trends –Development in automobile technology, new research in material composition in Automotive plastic market

The global Automotive plastic Market was valued at USD 29.22 Billion in 2018 and is expected to reach USD 67.51 Billion by year 2026, at a CAGR of 11.1 percent. Automotive plastic market is driven by the increase in usage of the automobile, such as personal cars, lightweight commercial vehicle, increase in global population. An average car consists of 5.8% to 10% of plastics in terms of overall vehicle weight, Plastic is light weight material, as compare to metal. Plastic offer enhanced properties, such as high impact strength, it can be easy mold, improved aesthetics, and it helps in reducing weight, as compared to conventional automotive components. Increase in Global vehicle ownership per capita, in 2010 it was 148 vehicles in operation per 1000 people which is increased to 174 vehicles per 1000 people in 2013. China has the largest motor vehicle fleet in the world, with 322 million motor vehicle.

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Top Leading Players in The Global Automotive Plastic Market Are:

Magna International Inc., Covestro AG, Borealis AG, Compagnie Plastic Omnium, Adient plc, Lear Corporation, Evonik Industries AG, SABIC, Grupo Antolin-Irausa S.A., Teijin Ltd., Royal DSM N.V., Johnson Controls International PLC, Momentive Performance Materials

Segments covered in the report:

By Types (Revenue, USD Million; 2016–2026)

  • Polypropylene
  • Polyurethane
  • Polyvinyl Chloride
  • ABS
  • other
  • Polyamide
  • HDPE
  • Polycarbonate
  • PBT

By Applications (Revenue, USD Million; 2016–2026)

  • Interior
  • Exterior
  • Electric component
  • Under Bonnet

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Automotive Plastic Market Upcoming Growth:

The global automotive plastic market is expected to witness significant growth in the coming years. Automotive plastic materials have gained popularity as an alternative to traditional metal components in the automotive industry. These materials are lightweight, cost-effective, and offer excellent mechanical properties, such as impact resistance and durability. The growing demand for fuel-efficient vehicles and strict government regulations regarding emissions are driving the adoption of lightweight materials in the automotive industry, which, in turn, is fueling the growth of the automotive plastic market.

The Asia Pacific region is expected to dominate the global market, owing to the presence of major automobile manufacturers, such as Toyota, Hyundai, and Honda, in the region. Additionally, the increasing demand for vehicles in developing countries, such as China and India, is expected to boost the growth of the automotive plastic market in the region.

The use of plastic materials in automotive applications has been steadily increasing, and the trend is expected to continue in the coming years. The development of new plastic materials with improved properties, such as high temperature resistance and flame retardancy, is also expected to contribute to the growth of the automotive plastic market. The electric vehicle market is also expected to drive the demand for plastic materials, as these vehicles require lightweight materials for better efficiency.

In conclusion, the automotive plastic market is expected to experience significant growth in the coming years due to the increasing demand for lightweight materials in the automotive industry, strict government regulations, and the development of new plastic materials with improved properties. The Asia Pacific region is expected to dominate the global market due to the presence of major automobile manufacturers and the increasing demand for vehicles in developing countries.

Regional Outlook:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

Browse More Related Research Reports:

Recycled Polyethylene Terephthalate (RPET) Market https://www.reportsanddata.com/report-detail/recycled-polyethylene-terephthalate-market

Monopropylene Glycol Market https://www.reportsanddata.com/report-detail/monopropylene-glycol-market

Methylene Chloride Market https://www.reportsanddata.com/report-detail/methylene-chloride-market 

Water Pipeline Leak Detection Systems Market https://www.reportsanddata.com/report-detail/water-pipeline-leak-detection-systems-market

Polyacetal Market https://www.reportsanddata.com/report-detail/polyacetal-market

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