According to a new market report published by Lucintel, the future of the automotive plastics market looks promising with opportunities in the passenger cars, light commercial vehicles, and heavy commercial vehicles. The automotive plastics market is expected to reach an estimated $25.5 billion by 2024 and it is forecast to grow at a CAGR of 2.6% from 2019 to 2024. The major drivers of growth for this market are increasing demand for lightweight materials for OEMs to reduce vehicle weight in response to stringent government regulations on fuel economy. Other major driver includes growth of the global vehicle production which is expected to grow at a CAGR of 1.9% during the forecast period and to reach 108.2 million units by 2024.

Polypropylene, polyurethane, polyamide, polyvinyl chloride, and acrylonitrile butadiene styrene are the major polymer types used for the production of automotive parts. On the basis of its comprehensive research, Lucintel forecasts that the polypropylene, polyurethane, and polyamide segments will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the automotive plastics market. The passenger car segment is expected to show above average growth during the forecast period due to increasing plastic content per vehicle in emerging applications like oil pans, wheel rims, and battery trays.
Interior, exterior, under the hood, and electrical components are the major application segments of the automotive plastic market. On the basis of its comprehensive research, Lucintel forecasts that interior and exterior applications will show above average growth during the forecast period.
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 to increase fuel efficiency. Asia Pacific is expected to witness significant growth over the forecast period because of high vehicle production and gradually increasing plastic content per vehicle.

Emerging trends, which have a direct impact on the dynamics of the industry, include development of recycling technologies for plastics and replacement of PA 66 with cheaper and advanced PA 6. BASF, Lyondellbassell, Du Pont. Co, Borealis AG, Dow Chemicals, solvay, DSM, SABIC, EXXON Mobile and Arkema are the major plastic suppliers in the automotive plastics market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive plastic market by polymer, vehicle type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Automotive Plastics Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive plastics market by polymer, vehicle type, application, and region, as follows:

By polymer ($ Million and million pounds from 2013 to 2024)
• Polypropylene
• Polyurethane
• Polyamide
• PVC
• ABS
• Polycarbonates
• Polyethylene
• PMMA
• Other Plastics
By Vehicle Type ($ Million and million pounds from 2013 to 2024)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Application ($ Million and million pounds from 2013 to 2024)
• Interior
• Exterior
• Under the Hood
• Electrical Components
By Application ($ Million and million pounds for 2018)
• Interior
o Seating
o Dashboard
o Trims
o Others
• Exterior
o Bumpers
o Trims
o Lightings
o Fuel systems
o Others
• Under the Hood
o Air intake manifolds
o Engine covers
o Rocker covers
o Front end module
o Fuel lines
o Other components
• Electrical Components
By Region ($ Million and million pounds from 2013 to 2024)
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Russia
o United Kingdom
o Italy
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
• The Rest of the World
o Brazil
o Turkey
This 299-page 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 email us at [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive plastics market by polymer (polypropylene, polyurethane, polyamide, PVC, ABS, polycarbonates, polyethylene, PMMA and other plastics), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), by application (interior, exterior, under the hood and electrical components), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?