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#Automotive Plastics Market

primexplast · 9 months

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Automotive Plastic Injection Molding Components

Automotive Plastic Injection Molding Components have become an essential aspect of modern vehicle design and production processes. As a renowned manufacturer in this field, Primex Plastics excels in delivering top-of-the-line solutions to the dynamic needs of the automotive industry. These components, known for their unparalleled flexibility, adaptability, and superior performance, play a crucial role in enhancing the overall durability and performance of automotive vehicles.

Primex Plastics commitment to innovation and advanced manufacturing techniques keeps them at the forefront of the ever-evolving automotive landscape. Their diverse range of thermoplastic parts, tailored to meet both standard and custom requirements, makes them a trusted name among automotive manufacturers. The company's dedication to 100% on-time delivery and cost-effectiveness further solidifies their position as a reliable partner in the industry.

The automotive sector demands highly precise and durable plastic components, and Primex Plastics understands this intricacy well. By employing various grades and types of plastics, they create tailor-made solutions that optimize the performance of automotive injection molding. These components are designed to support the industry's drive towards innovation and excellence in vehicle design.

Primex Plastics plays a crucial role as a reliable partner for the automotive industry, providing top-of-the-line Automotive Plastic Injection Molding Components. Their dedication to quality, adaptability, and innovation continues to contribute to the advancement and success of automotive vehicles, meeting the challenges of the modern automotive landscape head-on.

#injection moulding #automotive plastics market #automotive plastics moulding]

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coldpenguintaco · 11 months

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The Growing Role of Automotive Plastics in Vehicle Design and Manufacturing

Automotive plastics are materials used for the construction of parts and components in automobiles, including the body, interior, and powertrain. These plastics are designed to be lightweight, durable, and cost-effective. Common types of automotive plastics include polypropylene, polyurethane, ABS, and polycarbonate. Automotive plastics are used in many areas of the vehicle, including interior…

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informationandcommunication · 1 year

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Automotive Plastics Market – Forecast (2022-2027)

The Automotive Plastics Market size is estimated to reach US$53.8 billion by 2027 after growing at a CAGR of 5.4% during the forecast period 2022-2027. Automotive Plastics are specialty plastic materials that are used to enhance the safety, performance, and functionality of vehicles. Automotive plastics such as polypropylene (PP), polycarbonate (PC), polyvinyl chloride (PVC), polyurethane (PU), acrylonitrile butadiene styrene (ABS), and others have flourishing applications in automotive interiors, exteriors, under the bonnet, and other vehicle components. The superior properties of plastics such as flexibility, corrosion resistance, thermal insulation, and noise reduction for applicability in light commercial vehicles for maximum fuel efficiency are creating a drive in the automotive plastics industry. The covid-19 pandemic disrupted the growth and functioning of the market. The halt in production, demand and supply gap, and other lockdown restrictions resulted in a slowdown. However, with robust demand and recovery in major end-use industries, along with growing automotive vehicle production, the automotive plastics market is anticipated to rise during the forecast period.

Report Coverage

The report: “Automotive Plastics Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the automotive plastics market.

By Type: Polyurethane (PU), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyamide (PA), Polycarbonate (PC), Polybutylene Terephthalate (PBT), Acrylonitrile-Butadiene-Styrene (ABS), Polyethylene (PE), Polyethylene Terephthalate (PET), and Others

By Process: Injection Molding, Blow Molding, Extrusion, Vacuum Forming, and Others

By Application: Dashboard, Lighting, Glass Interlayer, Interior Trim, Bumper, Door Handles, Upholstery, Fuel System, Under the Hood, and Others

By End-Use Industry: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles (Buses, and Trucks), and Off-road Vehicles

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel, and Rest of the Middle East], and Africa [South Africa, Nigeria, and Rest of Africa])

Key Takeaways

Asia-Pacific dominates the automotive plastics market, owing to flourishing lightweight automotive production, established base for light electric vehicles, and rising demand for passenger vehicles in APAC, thereby boosting its growth in the APAC region.

The passenger vehicles (PV) sector is rapidly growing in the automotive plastics industry due to the rising applicability of plastics such as PP, PU, PVC, PE, and others for various automotive components, along with growing urbanization and demand for light vehicles for transportation, thereby driving the market.

The rising emphasis on fuel efficiency and lightweight automotive vehicles to reduce carbon emissions and limit fuel consumption creates a drive for the automotive plastics market during the forecast period.

However, the recyclability issues and emergence of alternatives such as bioplastics, carbon fiber-based plastics, soy, and hemp-based polymers, and others create major challenges and growth slowdown in the automotive plastics market.

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Automotive Plastics Market Segment Analysis – By Type

The Polypropylene (PP) segment held the largest share in the automotive plastics market in 2021 and is forecasted to grow at a CAGR of 5.7% during the forecast period 2022-2027. The growth of polypropylene (PP) plastic in automotive applications is due to its advantages and preference over other automotive plastics. The superior features of PP such as fuel efficiency, cost-effectiveness, lightweight, and high suitability for low-friction applications boost its demand compared to other engineered plastics options that are not cost-effective and lightweight. Moreover, the versatility and preference of PP for light vehicles and fuel-efficient vehicles over other automotive plastics such as polyurethane (PU), acrylonitrile butadiene styrene (ABS), and others are thereby propelling the demand for polypropylene automotive plastics. Polypropylene plastics are used in various automotive components such as dashboards, upholstery, interior trim, car seats, hard plastic parts, and others. With the increasing applicability of polypropylene in automotive to manufacture light and low-cost vehicles, the demand for polypropylene plastics is also substantially rising, thereby supporting the segment growth.

Automotive Plastics Market Segment Analysis – By End-Use Industry

The passenger vehicles (PV) segment held a significant share in the automotive plastics market in 2021 and is forecasted to grow at a CAGR of 6.3% during the forecast period 2022-2027. Automotive plastics such as polycarbonate (PC), polypropylene (PP), polyvinyl chloride (PVC), and others have major applicability in the passenger vehicles for interior trim, lighting, bumper, seating, and others. The passenger vehicle sector is rapidly growing owing to urbanization, demand from the middle-class segment, and an increase in demand for passenger cars, two-wheelers, and three-wheelers as public transportation. According to the Society of Indian Automobile Manufacturers (SIAM), the domestic sales of passenger vehicles in India rose from 2,711,457 units in 2020-21 to 3,069,499 units in 2021-22. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total passenger car production rose from 55,834,456 units in 2020 to 57,054,295 units in 2021. With the flourishing production and increase in demand for passenger cars across the globe, the demand for automotive plastics is anticipated to grow rapidly for applications in exterior, interior components, and others thereby will boost the growth of the passenger vehicles (PV) industry in the automotive plastics market during the forecast period.

Automotive Plastics Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the automotive plastics market in 2021 up to 43%. The robust growth of automotive plastics in APAC is due to flourished automotive vehicle production, growing vehicle manufacturing units, and high demand for specialty plastics in automotive across major counties such as China, India, Japan, and others. The automotive industry, majorly the passenger vehicles and light commercial vehicles sector is growing due to the high demand for fuel-efficient vehicles among the middle-class segment and urbanization. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automotive production increased from 3% in 2021 after a fall of 2% in China and increased by 30% in 2021 after a decline of 25% in India in 2020. Furthermore, initiatives such as Make in India and Automotive Mission Plan 2026 plan to boost the automotive sector in India and offer a contribution of 12% by automotive in the GDP by 2026. With the increase in automotive vehicle productions and vehicle manufacturing base, majorly for cars and LCV, the demand for automotive plastics such as polypropylene, polyvinyl chloride, polycarbonate, and others for applications in automotive interior, bonnet, exterior parts, and others is anticipated to grow. This will boost the growth of the automotive plastics industry in the Asia-Pacific during the forecast period.

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Automotive Plastics Market Drivers

Bolstering Growth of Light Weight and Fuel-Efficient Materials in Vehicles

The demand for lightweight and fuel-efficient vehicles is growing rapidly. The emphasis by the government on carbon emission and efficiency is boosting the adoption of lightweight and efficient automotive vehicles. Automotive plastics such as polypropylene (PP), polyurethane (PU), and others offer lightweight bodies to the vehicle and have applicability in vehicle roof, engine, fuel tank, lighting, seating, and others, thereby reducing the fuel consumption and carbon emissions. For instance, regulations mandate that the average fuel economy must meet 54.5 miles per gallon in the United States by 2025. Furthermore, the development of light materials such as lighter PP, polymethyl methacrylate (PMMA), biodegradable plastic composites, and others provide lightweight to the automotive body and reduces fuel consumption. Thus, with rising emphasis on lightweight and reduction in carbon emissions, the demand for automotive plastics for applications offering lightweight vehicle components is growing, thereby driving the market.

Rising Production of Electric Vehicles

Automotive plastics such as polypropylene, polycarbonate, acrylonitrile butadiene, polyurethane, and others have major applications in the electric vehicle for various interior, bonnet components, and exterior parts. The electric vehicle sector is growing rapidly with the increase in government initiatives for vehicle electrification and stringent emissions norms for fuel-based vehicles for carbon emissions. For instance, Honda announced plans to invest US$40 billion in the development of electric vehicles and launch 30 EVs by 2030 in India. According to the International Energy Agency (IEA), the global electric car sector saw a growth of 43% in 2020 compared to 2019, hitting a 10 million mark. Furthermore, the number of electric cars on the roads was 16.5 million in 2021, triple the number in 2018. With the increase in demand and production for electric vehicles, the application of automotive plastics such as polypropylene (PP), polyurethane (PU), and others is growing to offer lightweight and fuel efficiency for EVs, thereby driving the market and providing major growth in the market.

Automotive Plastics Market ChallengesRecycling Issues and Emergence of Alternative for Automotive Applications

Automotive plastics face recycling issues owing to factors such as the lack of advanced recyclable technology. This creates environmental impacts and solid waste accumulation, thereby hindering the demand. Furthermore, the emergence of alternatives such as carbon fiber for applications in automotive creates a major challenge in the market. The rising usage of materials prepared from natural fibers, soy and hemp fibers, sheet molding compounds, and others poses a major threat to automotive plastics such as polypropylene, polyurethane, PET, and others. Thus, with the issues in recycling and the threat from other alternative materials, the automotive plastics market faces a major slowdown and challenge.

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Automotive Plastics Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the automotive plastics market. Automotive plastics top 10 companies are:

BASF SE

LyondellBasell Industries Holdings BV

Covestro AG

Evonik Industries

Solvay SA

Arkema SA

LG Chem

Teijin Ltd.

Dupont

SABIC

Recent Developments

In February 2022, the Celanese planned to acquire the mobility and materials division of DuPont, which produces thermoplastics and elastomers with a large share for automotive applications, thereby boosting the product portfolio and growth in the market.

In December 2021, the Total Energies and Plastic Omnium entered into a partnership for the development of recyclable PP plastic material for applications in the automotive industry. This innovative and recycled PP material will provide reduced carbon emissions and has flourishing applicability and demand in 0electric vehicles, thereby offering growth in the market.

In May 2021, the Covestro AG launched recycled polyethylene terephthalate (rPET) or fused granule technology. This launch has major applications in the automotive industry for interior vehicle parts, thereby boosting the demand and growth in the automotive plastics market.

Relevant Reports

Automotive Plastic Fasteners Market

Report Code: CMR 53208

Recycled Plastics Market

Report Code: CMR 88916

For more Chemicals and Materials Market reports, please click here

#Automotive Plastics Market #Automotive Plastics Market Size #Automotive Plastics Market Share

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reserchnester-blog · 1 year

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Automotive Plastics Market Report & Analysis

The global automotive plastics market is estimated to garner a revenue of ~USD 50 Billion by the end of 2035 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2035.

#automotive plastics market

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sramfact · 1 year

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The global automotive plastics market for passenger cars size is projected to grow from USD 21.1 billion in 2021 and is projected to reach USD 30.8 billion by 2026, at a CAGR of 7.9%. The demand for automotive plastics is mainly driven by the increase in passenger car production and the increasing utilization of automotive plastics in vehicle designs. Plastics offer a maximum weight reduction for automobiles, which in turn reduces carbon emissions. These could be the major reasons propelling the market.

The shift towards the use of bioplastics in vehicle production, the use of anti-microbial plastics and additives, the use of composites and PMMA, and the growing trend of vehicle electrification have increased the demand for automotive plastics across the globe. The development of 3D printing technology is expected to act as a new opportunity for the automotive plastics market for passenger cars to grow. However, the high cost of capital and infrastructure for re-engineering plastics is expected to hinder market growth during the forecasted period.

The under-bonnet is the fastest-growing application segment of the automotive plastics market for passenger cars during the forecast period. Automotive plastics used in the manufacturing of under-bonnet components of passenger cars include Polypropylene, PBT, polyamide, and other engineered plastics. The use of plastics in under-bonnet applications provides high durability, high-temperature resistance, strength, and rigidity to automobiles. The under-bonnet segment includes components such as the battery, onboard chargers, connectors, cables, electric motor, anti-lock braking system, hoses, hydraulic booster unit, load-sensing valve, master cylinder, metering valve, fuel delivery modules, intake manifolds, brackets, duck work, accumulator pistons pressure differential valve, proportioning valve, and thermal management system which require plastics in their manufacturing.

Polyamide is the fastest-growing product type segment of the automotive plastics market for passenger cars during the forecast period, owing to its enhanced properties, such as impact strength and superior surface finish. Commonly used grades are PA 6 and PA 66. It has various properties such as high stiffness, strength, dimensional stability, high temperature and abrasion resistance, and low friction characteristics, along with chemical, flame, abrasion, creep, and fatigue resistance. Moreover, owing to their excellent strength and toughness at the time of exposure to hot and automotive fluids, polyamides are used for automotive thermal management and other applications areas including gears, bushes, cams, bearings, and weatherproof coatings, etc.

BASF SE (Germany), SABIC (Saudi Arabia), LyondellBasell Industries Holdings BV (Netherlands), LG Chem (South Korea), DuPont (US), Covestro AG (Germany), Evonik Industries AG (Germany), Solvay (Belgium), Arkema SA (France), Borealis AG (Austria), LANXESS (Germany), DSM (Netherlands), Toray Industries Inc. (Japan), Mitsui Chemicals (Japan), Celanese Corporation (US), Toyota Boshoku Corporation (Japan), Faurecia SA (France), TOYODA GOSEI Co., Ltd. (Japan), INEOS (UK), Sumitomo Chemicals Co. (Japan), Ltd., UBE Industries (Japan), Mitsubishi Engineering Plastics Corporation (Japan), Formosa Plastics Corporation (Taiwan), EMI Chemi Holdings (China), and Momentive Performance Materials (US) are some of the leading players operating in the automotive plastics market for passenger cars. These players have adopted the strategies of acquisitions and partnerships to enhance their position in the market.

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chemicalsandmaterials · 2 years

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The Automotive Plastics market size is estimated to reach US$53.8 billion by 2027 after growing at a CAGR of 5.4% during the forecast period 2022-2027.

#Automotive Plastics Market #Automotive Plastics Market Size #Automotive Plastics Market Share

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researchgmi · 2 years

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Automotive Plastics Market size exceeded USD 18 Billion in 2020 and is estimated to grow at a CAGR of over 11% between 2021 and 2027. Rising demand for modern plastics and polymer composites in vehicles to improve passenger safety and increasing demand for light weight plastics to make vehicles more fuel efficient is anticipated to boost the market.

#Automotive Plastics Market #automotive plastics market #Automotive Plastics Market size #Automotive Plastics Market share

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autoandpower · 2 years

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Automotive Plastics Market

#Automotive Plastics Market

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medicaldevicesindustrynews · 3 months

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What are the Advancements in 3D Printing High-Performance Plastics?

3D printing tech has gone from strength to strength at a rapid rate, altering more than a few industries. Amongst the several 3D printing applications, plastic 3D printing is really a game changer, offering adaptability, cost-efficiency, and innovation. The utmost new progressions in plastic 3D printing have pushed the limits of what was formerly thought conceivable. This blog will help you…

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#3D Printing High-Performance Plastics Market #Additive Manufacturing #Aerospace Components #automotive parts #Chemical Durability #Competitive Landscape #Healthcare Industry #Heat Resistance #Industrial Prototypes #Investors #Manufacturers #Market Segments #Medical Devices #Regional Influences #Strength

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automotivesd · 3 months

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Global Automotive Plastic Intake Manifold Market Size, Share, Trends, Growth, Industry Analysis, Key Players, Revenue, Future Development & Forecast

#Automotive Plastic Intake Manifold Market

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coldpenguintaco · 2 years

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Automotive Plastics Market for Passenger Cars Anticipated to be Valued at US$ 30.8 Billion by 2026- Exclusive Report by MarketsandMarkets™

The global automotive plastics market is growing rapidly, and there is a big opportunity for businesses to get involved. This market is expected to reach USD 30.8 billion by 2026, so now is the time to get started. There are many different types of plastics that are used in vehicles, and each has its own benefits. Businesses that can provide high-quality automotive plastics will be in high…

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#Automotive Plastics #Automotive Plastics Industry #automotive Plastics industry for Passenger Cars #Automotive Plastics Market #Automotive Plastics Market for Passenger Cars #automotive plastics market industry share #automotive plastics market industry size #COVID 19 impact on Automotive Plastics Market

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sramfact · 2 years

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Asia Pacific accounted for the largest share of the automotive plastics market for passenger cars in 2020. The countries considered for the study in Asia Pacific are China, Japan, India, South Korea, Thailand, Indonesia, among others. Asia Pacific is a leading manufacturing hub for the automotive industry owing to the increasing passenger vehicle production in China and India. The vehicle production in these countries is growing at a rapid rate because of the presence of major automotive players such as Honda, Toyota, Hyundai, and Nissan. Manufacturers such as BMW and Volkswagen have already set up manufacturing units in these countries. In terms of geography, Asia has the highest production of electric vehicles, making it the largest market for plastic for EVs. Such factors are expected to fuel the growth of the automotive plastics market for passenger cars in the region.

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