Automotive Plastics Market Growing Steadily At 7.5% CAGR, Surging Towards US$ 59.04 Billion Valuation By 2032

The growing demand for lightweight materials worldwide is a prominent factor driving the automotive plastics market

NEW YORK CITY, NY, UNITED STATES, January 8, 2025 /EINPresswire.com/ -- The automotive plastics market forecast for 2032 is a specialized study of the industry with a specific concentration on the global market trend analysis.

𝐓𝐡𝐞 𝐫𝐞𝐜𝐞𝐧𝐭𝐥𝐲 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐩𝐥𝐚𝐬𝐭𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐭𝐮𝐝𝐲 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐯𝐞𝐚𝐥𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐔𝐒𝐃 30.83 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2023, 𝐰𝐢𝐭𝐡 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 7.5% 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐟𝐫𝐨𝐦 2024 𝐭𝐨 2032. 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐨𝐟𝐟𝐞𝐫 𝐚𝐧 𝐚𝐛𝐬𝐨𝐥𝐮𝐭𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐨𝐟 𝐔𝐒𝐃 59.04 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬?
As plastics are weightless and economical, they are an enormously alluring prospect for automotive makers currently. As fuel productivity becomes a growing worry for consumers, any reduction in weight can be interpreted instantly into an upliftment in sales. Additionally, plastics are aversion-proof, durable, flexible, and provide more profound design liberation than metals.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/request-for-sample?utm_source=Ein&utm_medium=Ein&utm_campaign=Ein&utm_id=01

Polypropylene is an excessively durable polymer generated from propylene. Due to its longevity and chemical proof, polypropylene is utilized in everything from bumpers to cable cushioning to carpet fibers. Growing focus on ecological sustainability pushing automakers towards environmentally friendly and recyclable plastics solutions impacting the automotive plastics market growth favourably.

𝐖𝐡𝐨 𝐌𝐚𝐤𝐞𝐬 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬?
• Arkal Automotive
• Arkema SA
• BASF SE
• Borealis AG
• Covestro AG
• DSM Engineering
• Evonik Industries AG
• ExxonMobil Corporation
• LANXESS
• LG Chem
• LyondellBasell
• SABIC

are some of the leading players in the automotive plastics market.

The market is in an elevated growth phase and proliferating due to its fairly integrated framework. The market is portrayed by notable inventions pushed by growing demand for their weightlessness, inventiveness, and flexibility.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:
• In August 2024, AC Plastics declared the triumphant obtaining of two prominent contracts to injection mold constituents for approaching models of two opulent car brands made in the UK.

• In June 2024, Covestro, Neste, and Borealis consented to transfigure rejected tires into elevated standard plastics for the automotive industry.

𝐖𝐡𝐚𝐭’𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐰𝐚𝐫𝐝?
Growth in Hydrogen Repository Technologies: The market is poised for notable growth, pushed by the progression in hydrogen repository technologies as the industry moves towards hydrogen vehicles. Carbon fiber, acknowledged for its weightless and robust attributes, is important in manufacturing hydrogen repository tanks.

Strong Emission Standards: Robust emission standards are driving notable alterations in the market as manufacturers struggle to encounter strict ecological directives. Governments globally are executing stringent discharge standards to fight climate change and decrease contamination. This, in turn, is having a favorable impact on automotive plastics market sales.

Growth in the Demand for Electric Vehicles: The surge in demand for electric vehicles has surged the acquisition of weightless materials, involving automotive plastics, to improve the productivity and pulling potential of EV engines.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/request-for-discount-pricing?utm_source=Ein&utm_medium=Ein&utm_campaign=Ein&utm_id=01

𝐖𝐡𝐢𝐜𝐡 𝐑𝐞𝐠𝐢𝐨𝐧 𝐋𝐞𝐚𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡?
Asia Pacific: Asia Pacific accounted for the largest automotive plastics market share. The region's robust growth is primarily due to the obtainability of cost-effective labor, land, and resources and the augmenting automotive industry in surfacing nations such as India, China, Vietnam, Indonesia, and Thailand.

North America: North America is anticipated to witness significant growth from 2024 to 2032. This can be attributed to extensive consumer and policymaker significance on sustainability and ecological safeguarding.

𝐇𝐨𝐰 𝐈𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐃𝐨𝐧𝐞?
By Product Outlook
• Acrylonitrile Butadiene Styrene (ABS)
• Polypropylene (PP)
o PP LGF 20
o PP LGF 30
o PP LGF 40
o Others
• Polyurethane (PU)
• Polyvinyl Chloride (PVC)
o Rigid PVC
o Flexible PVC
• Polyethylene (PE)
o High-density Polyethylene (HDPE)
o Other PE Grades
• Polybutylene Terephthalate (PBT)
• Polycarbonate (PC)
• Polymethyl Methacrylate (PMMA)
• Polyamide (Nylon 6, Nylon 66)
• Others

By Process Outlook
• Injection Molding
• Blow Molding
• Thermoforming
• Others

By Vehicle Type Outlook
• Passenger Cars
o Internal Combustion Engine (ICE) Vehicles
o Electric Vehicles
• Light Commercial Vehicles
• Medium & Heavy Commercial Vehicles

By Application Outlook
• Powertrains
• Electrical Components
• Interior Furnishing
o IMD or IML
o Others
• Exterior Furnishing
• Under the hood
• Chassis

By Regional Outlook
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of the Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/automotive-plastics-market/inquire-before-buying?utm_source=Ein&utm_medium=Ein&utm_campaign=Ein&utm_id=01

𝐅𝐀𝐐𝐬:
How much is the automotive plastics market?
The market size was valued at USD 30.83 billion in 2023 and is projected to grow to USD 59.04 billion by 2032.

Which region dominated the automotive plastics market in 2023?
Asia Pacific dominated the market in 2023.

Which segment, based on product analysis, spearheaded the market in the forecast period?
The polypropylene (PP) segment spearheaded the market during 2024-2032.

What is the growth rate of the market?
The global market is projected to register a CAGR of 7.5% during 2024–2032.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Board Insulation Market:
https://www.polarismarketresearch.com/industry-analysis/board-insulation-market

Blasting Automation Services Market:
https://www.polarismarketresearch.com/industry-analysis/blasting-automation-services-market

Building and Construction Sheets Market:
https://www.polarismarketresearch.com/industry-analysis/building-and-construction-sheets-market

Elastomer Gel in Personal Care Market:
https://www.polarismarketresearch.com/industry-analysis/elastomer-gel-in-personal-care-market

Natural Dyes Market:
https://www.polarismarketresearch.com/industry-analysis/natural-dyes-market

𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 & 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠, 𝐈𝐧𝐜:
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Polaris Market Research and Consulting
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