BlueWeave Consulting Global Automotive Plastic Market Growth Analysis b
Global Automotive Plastic Market Growth Analysis by Size, Share,
Emerging Trends, Production, Consumption and Top Key Vendors
According to a new market report published by BlueWeave Consulting, the global automotive plastic
market was valued at US$ 23.62Bn in 2017 and is expected to expand at a CAGR of 12.72% from 2018 to
2025, reaching US$26.14Bn by the end of the forecast period. According to the report, Asia Pacific was
the largest contributor in terms of revenue to the automotive plastic market in 2017.
Increasing demand for light weighted vehicles to gain higher fuel efficiency is driving the global
automotive plastic market.
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Automotive plastics are being used in exceptionally advanced ways to make cars safer and highly fuel
efficient. They are at the heart of solutions which make vehicles more lightweight and help in the
reduction of carbon emissions. In addition, it also provides safety benefits to vehicles by offering airbags
and seat belts. Automotive plastics help to facilitate innovative design and contouring. Rising car makers
demand to meet sustainability goals using recycled materials with a motive to limit environmental
pollution has increased automotive plastic application in several number of car parts.
Global production of lightweight automobiles has been growing in developing and developed region due
to rising demand of passenger cars among urban population. Variability in prices of crude oil and rapid
growth in urban population has surged the demand for automobiles. Better features such as lower
tooling cost, light weight, corrosion resistance, strength and insulating material are being offered by the
automobile industry. These features certainly improve the designs of the vehicles and appearance. Due
to this factor several automotive manufacturers are replacing traditional automobiles components such
as metal with automotive plastics. Automotive plastic improves vehicles safety by offering advanced
processes and design. The safety concerns among consumers are growing and have been
encouraging world’s top manufacturers of OEMs and Tier One to use automotive plastic to build
innovative solutions for automobile.
Automotive Plastic Market: Scope of the Report
The global automotive plastic market is segmented on the basis of product and application. On the basis
of product, the market is segmented into Acrylonitrile Butadiene Stylene, Polypropylene, Polyurethane,
Polyvinyl Chloride, Polyethylene, Polycarbonate, Polymethyl methacrylate, Polyamide and others. The
Polypropylene was the largest segment in the global automotive plastic market in 2017, and is estimated
to witness the highest growth during 2018-2025.On the application basis, the market is segmented into