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Automotive Plastics Market for Passenger Cars worth $47.33 billion by 2023

[136 Pages] Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region

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Automotive Plastics Market for Passenger Cars worth $47.33 billion by 2023

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  1. MarketsandMarkets Presents Automotive Plastics Market for Passenger Cars worth $47.33 Billion - Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/automotive-plastics-market-passenger-cars-506.html

  2. The Automotive Plastics Market for passenger cars is projected to grow from USD 28.20 billion in 2018 to USD 47.33 billion by 2023, at a CAGR of 10.9% from 2018 to 2023. Stringent government regulations regarding greenhouse gas emissions have triggered the development of lightweight components for various automobiles, which has, in turn, increased the demand for automotive plastics in passenger cars. The use of automotive plastics also helps in terms of aerodynamics and body design, thus improving the vehicle’s aesthetics. Browse 103 market data Tables and 38 Figures spread through 136 Pages and in-depth TOC on "Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region - Global Forecast to 2023" Download PDF Brochure: Click Here Based on product type, the automotive plastics market for passenger cars has been segmented into polypropylene, polyurethane, polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polycarbonate, polyamide, polybutylene terephthalate (PBT), and others, such as poly(methyl methacrylate) (PMMA), polyethylene terephthalate (PET), and acrylonitrile styrene acrylate (ASA). The polyamide segment is projected to grow at the highest CAGR during the forecast period, in terms of value. The increasing demand for polyamide is attributed to its excellent strength and toughness when exposed to hot and automotive fluids. Polyamide is being increasingly used in passenger cars for various applications, such as thermal and transmission management.

  3. Based on application, the automotive plastics market for passenger cars has been segmented into interior, exterior, and under bonnet. The under bonnet segment is projected to grow at the highest CAGR between 2018 and 2023, in terms of value and volume, owing to the natural insulating properties of plastics for high-temperature application in the under bonnet components. Plastics are being used in various under bonnet components, such as brackets, shrouds, pipes, and duct works. The Asia Pacific region is projected to lead the automotive plastics market for passenger cars during the forecast period. The increasing demand for automotive plastics for passenger cars can be attributed to the growing automotive industry in the region. Globally, the Thailand automotive plastics market for passenger cars is projected to grow at the highest CAGR during the forecast period, in terms of value. In Asia Pacific, the demand for automotive plastics has been increasing due to ongoing urbanization and industrialization in the region. Vehicle production is also growing at a brisk rate due to the presence of major automotive players in the region, such as Honda, Toyota, Hyundai, and Nissan, which, in turn, boost the growth of the Asia Pacific automotive plastics market for passenger cars.

  4. Target Audience: • Automotive Plastics Manufacturers • Chemical Suppliers • Raw Material Suppliers • OEMs • Polymer Manufacturers • Passenger Car Manufacturers • Government and Research Organizations • Plastic Traders, Distributors, and Suppliers • Industry Associations • Research and Consulting Firms • Request for Sample: Click Here • Scope of the Report: • By Product Type • Polypropylene • Polyurethanes • Polyvinyl Chloride • ABS • Polyamide • HDPE • Polycarbonate • PBT • By Application • Interior • Exterior • Under Bonnet

  5. Industry Leaders: Key players operating in the automotive plastics market for passenger cars include Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), Compagnie Plastic Omnium (France), Borealis AG (Austria), Covestro AG (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), and GrupoAntolin-Irausa S.A. (Spain). Lear Corporation is another major player in the automotive plastics market for passenger cars. The company has been focusing on expansions and acquisitions as part of its strategic development activities. In October 2017, the company opened an innovation center in Detroit, US, for the development of new automotive products and technologies. Key players operating in the automotive plastics market for passenger cars include Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), Compagnie Plastic Omnium (France), Borealis AG (Austria), Covestro AG (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), and GrupoAntolin-Irausa S.A. (Spain). Lear Corporation is another major player in the automotive plastics market for passenger cars. The company has been focusing on expansions and acquisitions as part of its strategic development activities. In October 2017, the company opened an innovation center in Detroit, US, for the development of new automotive products and technologies.

  6. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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