Automotive Plastics Market Size, Share & Industry Analysis, By Type (Polypropylene, Polyurethane, Polyamide, Polyvinylchloride, Acrylonitrile Butadiene Styrene, Polycarbonate, Polyethylene, and Others), By Application (Interior, Exterior, and Under Bonnet), and Regional Forecast, 2019-2026

Automotive plastics are plastic materials used in the manufacturing of automotive parts and components. These plastics replace metals in automobiles as they offer similar properties such as stiffness, abrasion resistance, toughness, and flame retardancy. Properties of plastics, such as versatility and flexibility, have encouraged the development of several technologies to improve the design of automobiles. Polymers constitute about 10% of the weight of an average car. The primary objective of using polymers in automobiles is to reduce the weight of the vehicles, and thereby increasing fuel efficiency and reducing carbon emissions.  

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Increasing fuel prices and strict regulations implemented by governments of several countries, and various organizations have influenced automotive manufacturers towards the use of plastics. Plastics are usually durable, strong, and offer easy manufacturing, processibility and moulding, which makes its integration in automobiles a comparatively simple task. Besides, polymers are also used to improve the design of the vehicle, hence raising the safety standard of the vehicles.

MARKET DRIVERS

“Increasing Use of Plastics in Automotive Industry to Drive the Market”

The demand for automotive plastics is increasing with the rise in the production of lightweight vehicles from the automotive industry. Stringent environmental and safety regulations imposed by the government of various countries have forced the automotive OEM’s to replace metal components with components made of polymers. Using plastics in automobiles reduces the total weight of the vehicle, hence increasing its fuel efficiency, and reducing greenhouse gas emissions. Additionally, increasing automotive plastic repairs will help increase the automotive polymers market size.

Rising demand for electric vehicles is another factor promoting the automotive plastics market growth. Electric vehicles work on renewable sources of energy, are lightweight, and have higher efficiency than conventional vehicles. Electric vehicles can offer better efficiency than conventional vehicles due to the increased usage of polymers in them. The increasing demand for electric vehicles from all over the world is anticipated to help attract high automotive plastics market revenues in the forecast period.

Moreover, strong, rigid, and flexible nature of polymers makes it suitable for the use in automobiles. Hence, the increase in the use of plastics to manufacture automotive parts is pushing the automotive plastics market. The increase in use of automotive plastic paints and automotive plastic dyes is also expected to help promote the automotive polymers market growth.

SEGMENTATION

By Type Analysis

“Acrylonitrile Butadiene Styrene to Witness Fastest Growth Throughout Forecast Period”

The automotive plastics market is segmented into polypropylene, polyurethane, polyamide, polyvinyl chloride, acrylonitrile butadiene styrene, polycarbonate, polyethylene, and others on the basis of types. Amongst these, polypropylene, and polyurethane are the major types holding the dominant automotive plastics share, owing to their high demand. Several manufacturers prefer polypropylene as it is durable, flexible, and resistant toabrasion. Polyurethane helps in reducing the weight of the vehicle to increase efficiency of the vehicle and minimize carbon emission. Polyurethane foams are mainly used in seats for automobiles as they are durable and lightweight.

Polyamides are used in airbags, lighting, and electricals, and the components of the powertrain of the automobile. The implementation of various safety regulations and increasing awareness of consumers towards safety has led to the increased consumption of polyamide in automobiles.

Polyvinyl chloride (PVC) is mainly used in the interior parts such as dashboards and door panels as it reduces the weight of the vehicle, and offers electric and thermal insulation. PVC has sound dampening properties which is why it is used in carpet backing to cut down external distressing noises. PVC is also used in window frames due to their longer life-cycle, enhanced looks, and easy availability of material.  

Acrylonitrile butadiene styrene (ABS) is a tough, rigid, and hard plastic that provides resistance to chemicals. Hence, it is used to manufacture shrouds, automotive covers, pipes, body parts, and electronic housing. Polycarbonate offers high impact resistance and is resistant towards weathering; hence it is majorly used in headlight lenses and bumpers. Polyethylene offers sealing, easy processibility, stiffness, and is light in weight. Therefore, it is used in the manufacturing of various automobile parts.  

By Application Analysis

“Interior Segment to Account for the Major Share of the Market”

The automotive polymers market is categorized into interior, exterior, and under bonnet, based on the application. The interior segment held the largest automotive plastics market share in 2018, and is expected to continue so throughout the forecast period. Plastics offer durability and aesthetic appeal which makes it an ideal material for use in interior components. Additionally, plastics help in reducing vibration and noise levels and pose a low threat towards humans in case of an accident. Hence, the use of plastics in the interior segment is increasing and further expected to attract high automotive plastic market revenue in the forthcoming years.

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The use of plastics in the exterior part of the vehicle is increasing, owing to its properties such as corrosion resistance, chemical resistance, and lightweight. Earlier, metal alloys were used in the exterior body of the automotive, but they were susceptible to corrosion and deformation. Hence, plastics are used in exterior components of an automotive such as door handles, trunk, window glasses, windscreen, door handles, and bumpers. Therefore, the above reasons are responsible for the increased use of polymers in the exterior segment.

The use of plastic for under the bonnet application in the automobile is increasing due to various properties of the plastics, such as wear resistance, temperature resistant, and lightweight. The components in the bonnet of the vehicle are under constant stress caused by heat, vibration, and various automotive-related fluids. Plastic is resistant toward stress, dampens the sound and vibrations generated, and helps in reducing the weight of the components. Hence, the use of plastic for under the bonnet application is increasing.

REGIONAL ANALYSIS

Asia Pacific accounted for the largest automotive plastics market share in 2018 and is expected to remain so throughout the forecast period. This is attributable to the fact that China and India ae leading automotive manufacturing countries. China is anticipated to remain the major country due to the availability of raw material at low rates, which is minimizing the hurdles involved in the production of automotive plastics. Additionally, increasing the use of plastics in automobiles to reduce the weight of the vehicle is also driving the automotive plastics market in Asia Pacific region.

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In North America, the U.S. accounted for the largest automotive polymer market share due to increasing demand for automotive plastics due to its properties such as electric insulation, corrosion inhibition, excellent heat resistance, and low density. Also, the high demand for electric vehicles in North America is expected to promote growth of the market in the region. Electric vehicles are lightweight, and have better fuel economy than conventional vehicles due to more integration of plastic components. Which is expected to augment the growth of the automotive plastics market in North America.

In Europe, the guidelines enforced by the government on greenhouse gas emissions by the vehicles has influenced the automotive manufacturers to use polymers. Plastic reduces the weight of the vehicle, thereby increasing fuel efficiency. The presence of major automotive polymers market manufacturers in Europe is another factor responsible for the automotive plastics market growth in Europe.

In the Middle East & Africa, the key factors influencing the automotive plastics market growth is the presence of abundant raw materials required for the manufacturing of plastics. Latin America is expected to observe a significant growth in the automotive plastics market. Brazil is the major country for automotive polymers market growth in this region. The increased consumption of automotive plastics due to reduction in the weight of the vehicle, and improved safety standards are some factors projected to increase the automotive polymers market growth in Latin America.

KEY INDUSTRY PLAYERS

“Key Market Players Will Strengthen their Position by Providing Automotive Plastics Solutions to Packaging Industry”

The major automotive plastics market manufacturers are present throughout the globe. One of the major company LyondellBasell deals with automotive plastics, chemicals, and refining sectors. It provides a wide variety of plastic products. The company has shown dominance around the globe by applying the acquisition strategy. ExxonMobil is expanding throughout the globe by using strategies such as joint venture and by providing a diversified range of automotive plastics products. SABIC has a strong influence in the Middle East & Africa region. SABIC provides numerous range of plastic products that have helped it in its expansion by forming joint ventures.

List of key Companies Covered:

• Arkema SA


• BASF SE


• Borealis AG


• DuPont


• DSM Engineering


• Evonik Industries AG


• ExxonMobil Corporation


• LANXESS


• LG Chem


• LyondellBasell


• SABIC


• Covestro AG


• Arkal Automotive


• Other Players

REPORT COVERAGE

A growing trend is observed in the penetration of the automotive plastics market across the industries. 

The report provides qualitative and quantitative insights on the market and detailed analysis of automotive plastics market size & growth rate for all possible segments in the market. The market is segmented by type, application, and geography. Based on type, the market is classified into polypropylene, polyurethane, polyamide, polyvinyl chloride, acrylonitrile butadiene styrene, polycarbonate, polyethylene, and others. By application, the automotive plastics market is divided into interior, exterior, and under bonnet. Geographically, the market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.

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Along with this, the report provides an elaborative analysis of the automotive plastics market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the automotive plastics market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.

Report Scope & Segmentation

Key Industry Developments

• In July 2019, ExxonMobil started the production of a new high-performance polyethylene at its  polyethylene plant located at Beaumont, Texas. This expansion increased the production capacity of the plant by 65% or 650 KT per year. The total production capacity of plant increased to 1.7 million tons per year.


• In February 2018, SABIC announced new projects in the Netherlands, and Asia to increase the production capacity of its two materials named NORYL and ULTEM. The new production facility of polyetherimide situated in Singapore is expected to start functioning from 2021.