According to the recent study the automotive under the hood plastic market is projected to reach an estimated $6.2 billion by 2028 from $4.9 billion in 2022, at a CAGR of 4% from 2022 to 2028. Growth in this market is primarily driven by increasing demand for lightweight materials for OEM’s to reduce vehicle weight, increasing vehicle production, and stringent government regulations on fuel economy and emissions.
Browse 168 figures / charts and 139 tables in this 261 -page report to understand trends, opportunities and forecast in automotive under the hood plastic market by application (air intake manifolds, engine covers, rocker covers, front end modules, and other components), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), resin type (polyamide, polypropylene, and other plastics), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Polyamide resin market is expected to remain the largest segment during the forecast period.”
Based on resin type, the automotive under the hood plastic market is segmented into polyamide, polypropylene, and other plastics. Lucintel forecasts that the polyamide resin market is expected to remain the largest segment due to high resistance to abrasion, low friction characteristics, electrical resistance, and heat and chemical resistance.
“Europe will dominate the automotive under the hood plastic market in near future”
Europe is expected to remain the largest region due to increasing use of plastic content per vehicle coupled with stringent government regulations to reduce carbon emissions and increasing fuel efficiency. North America is expected to witness significant growth over the forecast period because of strict carbon emission regulations and reduced CAFÉ target in 2025.
Major players of automotive under the hood plastic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF, Lyondellbassell, EI Du Pont de Nemours.Co, and Borealis are among the major automotive under the hood plastic providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]