Automotive Plastics Market size to grow by USD 13.48 billion from 2022 to 2027|Increasing demand for electric and hybrid vehicles boosts the market - Technavio

NEW YORK, July 27, 2023 /PRNewswire/ -- The automotive plastics market size is estimated to increase by USD 13.48 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.35% during the forecast period. APAC is estimated to account for 45% of the global market growth during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Automotive Plastics Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on the material (polypropylene, polyurethane, polyvinyl chloride, polyamide, and others) vehicle type (passenger vehicle, commercial vehicle, and electric vehicle), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

The market share growth by the polypropylene segment will be significant for overall market growth during the forecast period. There is an increasing popularity for polypropylene in the automotive industry due to its advantageous properties and cost-effectiveness. Polypropylene is widely used in automotive in order to reduce the overall weight of the vehicle. Additionally, there is increasing adoption of this segment by manufacturers as it helps enhance fuel efficiency and minimize emissions. Hence, such factors are expected to drive market growth during the forecast period.

Geography Overview

By geography, the global automotive plastics market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive plastics market.

APAC is estimated to account for 45% of the global market growth during the forecast period. Some of the key countries which are significantly contributing to the global automotive plastics market growth in APAC are China, India, Japan, and South Korea. There has been an increasing production of automobiles in China, making it the dominant region in the market. Additionally, the Chinese government has undertaken several initiatives to encourage the use of automotive plastics in electric vehicles. Hence, such factors are expected to drive market growth in this region during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Automotive Plastics Market - Market Dynamics

Key factor driving market growth

The rising demand for electric and hybrid vehicles drives the market growth during the forecast period. The growing concerns regarding climate change and air pollution have led to an increasing focus on minimizing greenhouse gas emissions. Hence, there is an increasing adoption of electric vehicles (EVs) as they are more eco-friendly when compared to traditional vehicles as they produce zero emissions. Several governments across the world are encouraging the adoption of electric vehicles by offering incentives and subsidies including tax credits, purchase subsidies, and preferential parking. Hence, such factors are expected to drive market growth during the forecast period.

Leading trends influencing the market 

Increasing demand for lightweight and fuel-efficient materials is a key trend in the automotive plastics market during the forecast period. The rising focus on lightweight vehicles to enhance fuel efficiency and minimize emissions is a primary trend in the automotive industry. Autoplastic play an essential role as they replace heavier materials such as metal, thereby achieving efficiency. Several manufacturers in the industry are adopting advanced plastics and composites to minimize vehicle weight without compromising safety and performance. Furthermore, there is a growing preference among consumers for vehicles that have improved fuel efficiency and emit fewer pollutants. Hence, such factors are expected to drive the market during the forecast period.

Major challenges hindering the market growth

Complex design and engineering is a significant challenge hindering the automotive plastics market growth. It has become essential for modern vehicles to have a complex design to incorporate advanced features such as connectivity, and safety systems. Hence, the design of plastic components should be in such a way that it fits seamlessly with the vehicle structure and also fulfill specific functional requirements. However, the manufacturing of such a design is a time-consuming process. Also, it is important to have close collaboration between automakers and plastic suppliers to overcome such challenges associated with complex design, tooling, and assembly processes. Hence, the high upfront investments and long lead time associated with the manufacturing of plastic components are expected to hinder market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Automotive Plastics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive plastics market between 2023 and 2027
• Precise estimation of the automotive plastics market size and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive plastics market across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive plastics market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Material
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive plastics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global automotive plastics market 2017 - 2021 ($ billion)

• 4.2 Material Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Material Segment 2017 - 2021 ($ billion)

• 4.3 Vehicle Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Vehicle Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Material

• 6.1 Market segments
• Exhibit 30: Chart on Material - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Material - Market share 2022-2027 (%)

• 6.2 Comparison by Material 
• Exhibit 32: Chart on Comparison by Material
• Exhibit 33: Data Table on Comparison by Material

• 6.3 Polypropylene - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Polypropylene - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Polypropylene - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Polypropylene - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Polypropylene - Year-over-year growth 2022-2027 (%)

• 6.4 Polyurethane - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Polyurethane - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Polyurethane - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Polyurethane - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Polyurethane - Year-over-year growth 2022-2027 (%)

• 6.5 Polyvinyl chloride - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Polyvinyl chloride - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Polyvinyl chloride - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Polyvinyl chloride - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Polyvinyl chloride - Year-over-year growth 2022-2027 (%)

• 6.6 Polyamide and others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Polyamide and others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Polyamide and others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Polyamide and others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Polyamide and others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Material 
• Exhibit 50: Market opportunity by Material ($ billion)
• Exhibit 51: Data Table on Market opportunity by Material ($ billion)

7 Market Segmentation by Vehicle Type

• 7.1 Market segments
• Exhibit 52: Chart on Vehicle Type - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Vehicle Type - Market share 2022-2027 (%)

• 7.2 Comparison by Vehicle Type 
• Exhibit 54: Chart on Comparison by Vehicle Type
• Exhibit 55: Data Table on Comparison by Vehicle Type

• 7.3 Passenger vehicle - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Passenger vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Passenger vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Passenger vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Passenger vehicle - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicle - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Commercial vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Commercial vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Commercial vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Commercial vehicle - Year-over-year growth 2022-2027 (%)

• 7.5 Electric vehicle - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Electric vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Electric vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Electric vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Electric vehicle - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Vehicle Type 
• Exhibit 68: Market opportunity by Vehicle Type ($ billion)
• Exhibit 69: Data Table on Market opportunity by Vehicle Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027 
• Exhibit 111: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ billion)
• Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Avery Dennison Corp.
• Exhibit 123: Avery Dennison Corp. - Overview
• Exhibit 124: Avery Dennison Corp. - Business segments
• Exhibit 125: Avery Dennison Corp. - Key news
• Exhibit 126: Avery Dennison Corp. - Key offerings
• Exhibit 127: Avery Dennison Corp. - Segment focus

• 12.4 BASF SE
• Exhibit 128: BASF SE - Overview
• Exhibit 129: BASF SE - Business segments
• Exhibit 130: BASF SE - Key news
• Exhibit 131: BASF SE - Key offerings
• Exhibit 132: BASF SE - Segment focus

• 12.5 Berghof GmbH
• Exhibit 133: Berghof GmbH - Overview
• Exhibit 134: Berghof GmbH - Product / Service
• Exhibit 135: Berghof GmbH - Key offerings

• 12.6 Borealis AG
• Exhibit 136: Borealis AG - Overview
• Exhibit 137: Borealis AG - Business segments
• Exhibit 138: Borealis AG - Key offerings
• Exhibit 139: Borealis AG - Segment focus

• 12.7 BOS GmbH and Co. KG
• Exhibit 140: BOS GmbH and Co. KG - Overview
• Exhibit 141: BOS GmbH and Co. KG - Product / Service
• Exhibit 142: BOS GmbH and Co. KG - Key offerings

• 12.8 CIE Automotive SA
• Exhibit 143: CIE Automotive SA - Overview
• Exhibit 144: CIE Automotive SA - Business segments
• Exhibit 145: CIE Automotive SA - Key offerings
• Exhibit 146: CIE Automotive SA - Segment focus

• 12.9 Compagnie de Saint Gobain 
• Exhibit 147: Compagnie de Saint Gobain - Overview
• Exhibit 148: Compagnie de Saint Gobain - Business segments
• Exhibit 149: Compagnie de Saint Gobain - Key news
• Exhibit 150: Compagnie de Saint Gobain - Key offerings
• Exhibit 151: Compagnie de Saint Gobain - Segment focus

• 12.10 Covestro AG
• Exhibit 152: Covestro AG - Overview
• Exhibit 153: Covestro AG - Business segments
• Exhibit 154: Covestro AG - Key news
• Exhibit 155: Covestro AG - Key offerings
• Exhibit 156: Covestro AG - Segment focus

• 12.11 Eastman Chemical Co.
• Exhibit 157: Eastman Chemical Co. - Overview
• Exhibit 158: Eastman Chemical Co. - Business segments
• Exhibit 159: Eastman Chemical Co. - Key offerings
• Exhibit 160: Eastman Chemical Co. - Segment focus

• 12.12 Evonik Industries AG
• Exhibit 161: Evonik Industries AG - Overview
• Exhibit 162: Evonik Industries AG - Business segments
• Exhibit 163: Evonik Industries AG - Key news
• Exhibit 164: Evonik Industries AG - Key offerings
• Exhibit 165: Evonik Industries AG - Segment focus

• 12.13 Nifco Inc.
• Exhibit 166: Nifco Inc. - Overview
• Exhibit 167: Nifco Inc. - Business segments
• Exhibit 168: Nifco Inc. - Key offerings
• Exhibit 169: Nifco Inc. - Segment focus

• 12.14 Nippon Steel Corp.
• Exhibit 170: Nippon Steel Corp. - Overview
• Exhibit 171: Nippon Steel Corp. - Business segments
• Exhibit 172: Nippon Steel Corp. - Key offerings
• Exhibit 173: Nippon Steel Corp. - Segment focus

• 12.15 Nolato AB
• Exhibit 174: Nolato AB - Overview
• Exhibit 175: Nolato AB - Product / Service
• Exhibit 176: Nolato AB - Key offerings

• 12.16 Weber GmbH and Co. KG 
• Exhibit 177: Weber GmbH and Co. KG - Overview
• Exhibit 178: Weber GmbH and Co. KG - Product / Service
• Exhibit 179: Weber GmbH and Co. KG - Key offerings

• 12.17 Yachiyo Industry Co. Ltd. 
• Exhibit 180: Yachiyo Industry Co. Ltd. - Overview
• Exhibit 181: Yachiyo Industry Co. Ltd. - Product / Service
• Exhibit 182: Yachiyo Industry Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 183: Inclusions checklist
• Exhibit 184: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 185: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 186: Research methodology
• Exhibit 187: Validation techniques employed for market sizing
• Exhibit 188: Information sources

• 13.5 List of abbreviations 
• Exhibit 189: List of abbreviations

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