Chemical industry reports Automotive Plastics Market Overview | Page 2

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The global automotive plastics market is categorized into products, applications, and regions. Products include
polyethylene, acrylonitrile butadiene styrene (ABS), polyurethane, polypropylene, polyvinyl chloride (PVC),
polycarbonate, polyamide, and polymethyl methacrylate (PMMA). Polypropylene led the market in 2014 with a
revenue exceeding USD 5 billion. Engineering metals & plastics are increasingly being replaced by PP -based
materials in the production of automobile parts. This leads not only to vehicular weight reductions but also to
significant costs savings. Polypropylene and polyethylene foams are commonly used for vibration and noise
dampening & thermal solidity.
PMMA holds a smaller market share. However, this segment may witness substantial growth in the forecast
period. This owes to the widespread application of PMMA in automobile light covers, windows, trims, and
glazing. It is also used as a replacement for glass.
Based on applications, the automotive plastics market is divided into electrical components, power trai n, under
the hood, interior & exterior furnishings, and chassis. In 2014, electrical components held the largest share and
surpassed USD 6 billion. Interior & exterior applications held a share of over 32% in 2014 and can grow at a
CAGR of over 9% during the forecast period. Bumper systems, fascia systems, body & light panels, and steering
wheels are the key components that use automotive plastics. ‘Power trains’ is anticipated to be the fastest
growing segment and may register a CAGR of over 10% during the next eight years.
Based on regions, the global automotive plastics market is segmented into Asia Pacific, Europe, North America,
and Rest of the World. The Asia-Pacific automotive plastics market dominated the industry in 2014. In terms of
revenue, the region reported USD 9.5 billion during the same year. The shift of automotive manufacturing units
to countries, such as India, China, Thailand, and Indonesia propels the Asia Pacific market. Demand is attributed
to supportive government initiatives and the availability of cheap labor. Central & South America could grow at
a decent CAGR of over 10.5% from 2016 to 2024. Major companies operating in the industry are Johnson
Controls, The Dow Chemical Company, Akzo Nobel N. V., Delphi Automotive PLC, and Evonik I ndustries A. G.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/plastics-
polymers-and-resins-industry
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