Automotive plastics market size is likely to exceed 18 million tons by 2022, growing at a CAGR of over 9.5% from 2015 to 2022. The market is likely to be worth more than 52 billion by 2022, growing at an estimated CAGR of over 13.5%.

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Automotive Plastics Market size, Share & Analysis
Fractovia.org
Automotive plastics market size is
anticipated to register USD 53.8
billion by 2022

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 Plastics provides considerable weight reduction for the automobiles resulting in low fuel
consumption and emission thereby increasing the overall vehicle efficiency. Strict norms set by
CAFÉ (Corporate Average Fuel Economy) have forced the automobile manufacturers to improve
vehicle design fulfilling (complying with) weight reduction, low fuel consumption, and emission
control norms.
 As per the Global Market Insights Inc. report, “the global automotive plastics market size is
predicted to reach USD 53.8 billion mark by 2022 at a CAGR of 13.5% over the period of 2015-
2022.” Rise in demand for automobiles, changes in vehicle designs, and the growing mass reducing
trends to enhance fuel efficiency are few of the factors predicted to drive the market growth in the
coming seven years.
Overview:

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 The Polymethyl methacrylate (PMMA) automotive plastics market size is predicted to grow at a
CAGR of 12% over the period of 2015-2022 due to its growing use/application in rear lights.
Polypropylene (PP) dominated the automotive plastics market having had a worth of USD 4.8
billion in 2014. These products are widely used as metal & steel substitutes owing to their
weight reducing property which in turn helps in cost reduction.
 The Polyurethane (PU) automotive plastics market, contributing about 17% of the overall size
in 2014, is anticipated to record a CAGR of 10% over the period of 2015-2022. PU foam
provides automobile designers & manufacturers the means to manufacture seats of vehicles
without adding any weight to it. Furthermore, the transport sector is the biggest user of reaction
injection-molded PU components.
Product Trends:

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 Electrical components applications segment worth USD 6.5 billion in 2014 and leading the
applications segment, is predicted to witness a noticeable surge in coming years. Sockets
manufactured from high performance plastics, having key properties such as thermal stability,
lightweight and corrosion resistance, makes them an ideal metal substitute in these applications.
 Power trains applications are expected to grow at a CAGR of 10% over the period of 2015-2022
due to the growing use of automotive plastics in the production of jolt bolts and transmission units.
 Interior & exterior furnishing applications segment contributed towards 32% of the overall
automotive plastics demand in 2014 and is expected to grow at a rate of 9% over the period of
2015-2022. Body & light panels, fascia systems, and steering wheels are the key parts of the
application using automotive plastics.
Application Trends:

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 The Asia Pacific automotive plastics market share worth USD 9.5 billion in 2014, is predicted
to witness a significant growth in next few years. Shifting of automobile production units to
India, Thailand, China, and Indonesia by key manufacturers due to government initiatives and
the availability of affordable manpower is expected to stimulate the regional growth.
 The Central & South America automotive plastics market is projected to grow at a CAGR of
10.5% over the period of 2015-2022. The MEA automotive plastics market is likely to witness a
substantial growth owing to the increase in automobile sales in this region.
 Countries like UAE and Saudi Arabia are predicted to drive the regional growth. The Latin
America market size is expected to record a CAGR of 10.6% over the period of 2015-2022
owing to the increase in purchasing capacity of the consumer and rise in vehicle sales.
Regional Trends:

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 Key industry participants include Evonik Industries, Delphi Automotive, BASF, Johnson
Controls, The Dow Chemical Company, and AkzoNobel N.V. These market players will try to
increase their share by enhancing their product portfolios and expanding their regional
presence.
Competitive Trends:
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