Automotive Plastics Market Size, Share & Trends Report

Automotive Plastics Market Size, Share & Trends Analysis Report By Product (PP, ABS, PU, PE, PC, PA, PVC, PMMA), By Application (Powertrain, Interior/Exterior Furnishings, Electrical Components), And Segment Forecasts, 2019 - 2025

  • Published Date: Apr, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-193-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 270

Industry Insights

The global automotive plastics market size was estimated at USD 31.69 billion in 2018 and is projected to expand at a CAGR of 11.5% from 2019 to 2025. Global recovery in the automotive sector, improved vehicle design capabilities, and increasing focus on vehicle weight reduction and emission control are the key factors boosting growth of the market. Plastics are widely used in automotive components and parts owing to easy manufacturing, possible sourcing from renewable raw materials, and improved designs.

Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), and Polyurethane (PU) are the most common materials used for vehicle part and component applications. Plastics undergo five different stages while recycling including sorting, washing, shredding, identification & classification, and extruding into final component or product. Improvements in recycling processes have forced manufacturers to use high-performance products. Usually, an average car consists of 5.8 to 10% of plastics, depending on fuel-efficiency standards and performance requirements, with consumption in vehicular equipment accounting for over 105 kg in an average car.

U.S. automotive plastics market

This percentage is expected to increase owing to growing demand from consumers for high-performance, lightweight, and fuel-efficient vehicles, thereby augmenting the product demand over the years to come. Weight reduction also offers a cost-effective way to reduce Greenhouse Gas (GHG) emissions and fuel consumption, conserving non-renewable crude oil reserves. For example, for every 10% weight reduction in a vehicle would improve fuel economy by 5 to 7%. However, 1 kg weight decrease can reduce 20 kg of carbon emission.

Plastic monomers are polymerized using chemical reactions and catalysts to form polymers and co-polymers and are turned into PC, Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), and other such polymerized materials. These materials possess far better properties than their respective monomers and are extremely stable for use in molding and fabrication.

Designing a vehicle is a critical factor as it is subjected to various external forces and the possibilities of high impacts. Thus, to preserve the structural integrity of a vehicle, the materials used in its production become important factors for safety and stability. Although they are relatively cheaper than metals, their design parameters and manufacturing equipment are highly expensive, which is expected to pose a challenge to industry participants.

Product Insights

Polypropylene emerged as the leading product category and accounted for 25% of the total volume in 2018. The product offers excellent chemical and electrical resistance at very high temperatures. It is semi-rigid, translucent and also provides integral hinge property. Moreover, PP is lightweight as compared to other materials and is widely used as a thermal insulator and noise and vibration dampener in vehicular components.

Polyurethane emerged as the second-largest product segment in 2018. PU exhibits superior properties, such as high tensile strength, abrasive strength, hardness, and impact and abrasion resistance. Growing demand from automotive Original Equipment Manufacturers (OEMs) and electronic appliance manufacturers for applications, such as refrigeration insulation, interior trims, and seat cushioning, has significantly influenced the growth.

Application Insights

Interior furnishings emerged as the leading application and accounted for over 50% of the total volume in 2018. Plastics are widely utilized for automobile furnishings including light displays and panels, seat covers, steering wheels, and fascia systems. Numerous other interior components including seat bases, load floors, headliners, and rear package shelves, are being constructed entirely from high-performance plastics, such as Glass-Mat Thermoplastic (GMT) and ABS composites, instead of conventional rubber and metal. Moreover, proliferation of digitalization has fostered the demand for plastics integrated into car dashboards to support highly advanced electronics. Safety concerns and high electrical insulation properties of plastics have also propelled their demand in instrument panels containing advanced electronic systems.

Regional Insights

Asia Pacific was the dominant regional market and accounted for around 50% of the global volume share in 2018. Shifting production bases from developed regions to emerging economies of Asia Pacific, particularly in China, India, Thailand, Vietnam, and Indonesia, is expected to boost the market growth. Expanding manufacturing base and increasing investments in advanced technologies for vehicular production is expected to bring about a new era of automobiles, positively influencing the market. Consumers in Europe and APAC are highly conscious regarding fuel-efficiency.

Global automotive plastics market

This has also driven the demand for sustainable plastics. Europe accounted for around 35% of the overall revenue share in 2018. European automobile manufacturers are using high-performance plastics as these materials are energy-efficient and help in weight reduction of the vehicle. Strict emission standards in the region owing have forced automakers in European countries to shift from diesel engines to electrified motors. This is also expected to augment the product demand over the next few years.

Automotive Plastics Market Share Insights

Major companies focus more on R&D, technological innovations, M&A and other collaborations to increase their market share. Furthermore, a number of companies have also invested in expansion of their production capabilities to enhance their portfolios and regional presence. Some of the leading companies in this market include AkzoNobel N.V.; BASF SE; Covestro AG; Evonik Industries AG; Johnson Controls International PLC; Magna International, Inc.; Momentive Performance Materials, Inc.; SABIC; The Dow Chemical Company; Borealis AG; Hanwha Azdel, Inc.; Grupo Antolin; Lear Corp.; Owens Corning; Quadrant AG; Royal DSM N.V.; and Teijin Ltd.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million, and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Italy, China, India, Japan, Southeast Asia, and Brazil

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global automotive plastics market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polypropylene (PP)

    • Polyurethane (PU)

    • Polyvinyl Chloride (PVC)

    • Polyethylene (PE)

    • Polycarbonate (PC)

    • Polymethyl Methacrylate (PMMA)

    • Polyamide (PA)

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Powertrain

      • PE

      • PP

      • PVC

      • PU

      • ABS

      • PC

      • PA

      • Others

    • Electrical Components

      • PA

      • PP

      • PMMA

      • ABS

      • PVC

      • Others

    • Interior Furnishings

      • PUR

      • PP

      • PMMA

      • ABS

      • PVC

      • PE

      • PA

      • Others

    • Exterior Furnishings

      • PP

      • ABS

      • PVC

      • PUR

      • PA

      • Others

    • Under-the-Hood Components

      • PE

      • PP

      • PA

      • ABS

      • PUR

      • Others

    • Chassis

      • PE

      • PP

      • ABS

      • PA

      • PUR

      • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Southeast Asia

    • Central & South America

      • Brazil

    • Middle East & Africa

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