Automotive Plastics Market Size, Share and Industry Analysis Report by Product (Polyurethane, PVC, Polyethylene, Polypropylene, ABS, Polycarbonate, Polyamide, PMMA) and Application (Electrical Components, Power Train, Under the Hood, Chassis, Interior & Exterior Furnishings), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Jan 2018  |  Report ID: GMI110  |  Authors: Kunal Ahuja, Kritika Mamtani

Report Format: PDF   |   Pages: 310   |   Base Year: 2016

Summary Table of Contents Industry Coverage Methodology

Industry Overview

Automotive plastics market is anticipated to grow at a CAGR of 11% from 2017 to 2024. Growing product demand for various automobile furnishing such as light panels & displays, steering wheels, fascia systems, and seat covers owing to optimal insulation properties & rising safety concerns should accelerate market growth.

Global automotive sector witnessed consumption of over 95 million vehicles in 2017 pertaining to declining unemployment and rise in consumer spending power which indicates ample growth opportunities. These high-performance products find extensive usage in interior automotive components and parts such as headliners, load floors, rear package shelves and seat bases.

Automotive Plastics Market Outlook

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Rising economic standards which have led to increase in consumer spending on luxury and stylish vehicles along with rising automakers’ efforts to cater to diverse customer expectations should further drive the market share.

Rising ecological concerns owing to intensive energy usage during plastic manufacture are likely to hinder the market growth. The manufacture & disposal of these products presents significant risk of land, air & water pollution along with toxic effects on human health. However, manufacturers’ efforts to improve recycling processes and adoption of streamlined mass production techniques have resulted in the development of cost-efficient & technologically advanced products with enhanced sustainability.

Market, By Product

Global polypropylene segment surpassed $6.5 billion in 2016 on account of the rising preference for nuclear families and significant demand for small cars. The product is extensively used in battery boxes, cable insulation, bottles, petrol cans, carpet fibers, indoor & outdoor carpets, chemical tanks and automotive bumpers. Strict regulatory guidelines regarding CO2 emission standards due to rising environmental concerns mainly in Germany, Italy and France are likely to drive the automotive plastics market share.

Automotive Plastics Market by Product

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Polyvinyl chloride (PVC) based segment should register over 8.5% gains by 2024 on account of growing automotive production. It finds widespread usage in underbody coatings, floor modules, sealants, wire harness, door panels seating, and arm rest pertaining to its sealant property & humidity resistance. Increasing consumer awareness regarding vehicle safety issues and growing environmental concerns regarding carbon emission should further boost the automotive plastics market.

Polyethylene (PE) based segment is estimated to surpass $4.5 billion by the end of the forecast period owing to its high transparency and ability to reduce overall vehicle weight. It is lighter than wood, aluminum and steel which helps in reducing emission and increases its suitability for use in electrical insulation, packaging, car bodies and car design.

Rising technological advancement in polyethylene manufacture and growing demand for sustainability should further stimulate the market, owing to its capability to be produced from various sources.

Market, By Application

Electrical components segment exceeded $7.5 billion in 2016 owing to growing requirement for advanced safety systems such as lane departure warning systems and airbags. These products offer high temperature & corrosion resistance along with light weight which makes them ideal for circuit boards, wiring & cables, switches and sockets.

Shift in consumer preferences towards stylish and trendy automobile vehicles along with technological advancements should favor the automotive plastics market trends.

Under the hood applications segment should register over 10% gains in the predicted timeframe pertaining to growing passenger car production, aftermarket sales and stringent emission norms boosting demand for composite materials. These products make the fuel delivery systems leak proof; reliable & corrosion resistant along with reducing design restraints. Rising demand for plastic alternatives from automotive OEMs and increasing fuel efficiency concerns should further boost the automotive plastics market share.

Power train applications segment should surpass $5 billion by 2024 owing to increasing demand for automotive transmission and engine downsizing. Various plastics such as polyamides, elastomers and nylon are widely used in transmission oil pans, air ducts, suction pipes, exhaust gas recirculation cooler units, engine front covers, and seal rings which reduces vehicle weight. Increasing consumer emphasis on fuel efficiency and rising environmental consciousness should further accelerate the automotive plastics market revenue.

Regional Insights

North America, driven by Canada, Mexico and U.S. should register over 8.5% gains in the foreseeable timeframe. Increasing prevalence of stringent government regulations for reducing automotive emissions has led to growing preference for plastic materials over conventional metals.

Rising iron & steel prices and significant potential of automotive plastics in reducing vehicle weight, thereby reducing fuel consumption should drive product demand. Rising technological innovation in automotive industry and growing demand for lightweight electric vehicles should further accelerate the automotive plastics market growth.

Europe driven by France, Russia, UK, and Germany should surpass USD 14.5 billion by 2024 owing to increasing demand by plastic manufacturers to develop innovative products & lower production costs. Injection molded plastics reduce automotive assembly costs by 25% to 50% as compared to metal components along with providing high strength, reliability and durability. The booming automotive interior business and growing safety concerns should further accelerate the automotive plastics market revenue.

Asia Pacific led by Japan, China, South Korea, and India may register over 10% gains by the end of the foreseeable timeframe. Increasing production of passenger vehicles along with efforts by various manufacturers to reduce vehicle weight should drive regional product demand. Strong economic growth, tax reforms and government policies encouraging FDI in the automotive sector should stimulate the product demand.

Competitive Market Share

Global automotive plastics industry share is moderately consolidated and includes various participants such as BASF, Evonik, Delphi Automotive, Adient, Dow Chemicals and Borealis AG. Various manufacturers are engaged in strategic collaboration to develop new products and production capacity expansion to satisfy rising customer demand and ensure market growth.

Industry Background

These products are high performance polymers which offer high scratch resistance, durability, strength, abrasion resistance, vibration & noise control. These products are extensively used in automotive cable insulation, chemical tanks, carpet fibers, suspension bushings, cushions, elastomeric wheels and instrument panels. Rising demand for fuel efficiency to ensure regulatory compliance has stimulated product demand for replacing heavy metal components and parts, thereby reducing overall vehicle weight and reducing emissions.

Automotive plastics market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2013 to 2024, for the following segments:

By Product

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

By Application

  • Power Trains
  • Electrical Components
  • Interior & Exterior Furnishing
  • Under the Hood
  • Chassis

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Poland
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
  • Central & South America (CSA)
    • Brazil
  • Middle East & Africa (MEA)
    • South Africa


Frequently Asked Questions (FAQ) :

The overall market share from the polyvinyl chloride (PVC) product segment is expected to record more than 8.5% gains up to 2024 owing to the expanding automotive production across the globe.
The electrical components application segment accounted for a substantial revenue share and will grow with the increasing requirement for advanced safety systems.
The global industry size of automotive plastics surpassed USD 23.5 billion in 2016 and is pegged to rise at a CAGR of 11% up to 2024.
North America comprising Canada, Mexico, and U.S. is poised to witness gains at over 8.5% up to 2024 driven by the higher prevalence of stringent government regulations for limiting the automotive emissions in the region.

Premium Report Details

  • Published Date: Jan 2018
  • Pages: 310
  • Tables: 345
  • Charts / Figures: 53
  • Companies covered: 22
  • Countries covered: 18

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