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Global Automotive Plastics Market to reach USD 36.84 billion by 2027.

Global Automotive Plastics Market to reach USD 36.84 billion by 2027.

Product Code: ALTAMC-94280979
Publish Date: 11-07-2021
Page: 200

Global Automotive Plastics Market is valued approximately at USD 28 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4% over the forecast period 2021-2027. Plastics nowadays are extensively used in automotive components and parts as it is durable, easy to manufacture and leads to improved designs of automotive components.
The growth in the automotive sector in last few years, the increased demand for plastic in the automotive manufacturing and technological advancements in the manufacturing of the plastics are driving the Automotive Plastics market. It also leads to the weight reduction of the automobiles as they are lighter than metallic components. Improvements in recycling processes of plastics is leading manufacturers to use high-performance automotive plastics. The growing demand for electric vehicles in developed countries too propelling the market for automotive plastics. According to International Labor organization, global EV sales exceeded 5.1 million units in, an increase of 2 million units from 2017. In Europe and the United States, sales increased by 385,000 and 361,000 EVs respectively, in the year2017-18. At the same time in 2018, China retailed nearly 1.1 million EVs and had 2.3 million active electronic vehicles, making it the largest EV market in the world. Since designing is an important factor of electric vehicles, plastics usage is bound to grow in automotive sector as they are highly flexible in nature. Although plastic provides many advantages, the strength of plastic components is less as compared to metal counterparts. This may act as a restraint for its growth. However, increasing usage of recyclable plastics to curb the carbon emission acts as an opportunity for Automotive Plastics Market in subsequent decade.

Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Automotive Plastics Market. Due to higher investments in automobile sector as well as higher per capita income, North America has emerged as the significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the growing demand for the automotive due to increasing population. Rising disposable income and growing awareness for electric vehicles will also boost growth in this region.

Major market player included in this report are:
Akzo Nobel N.V.
Covestro AG
Evonik Industries AG
Adient plc (Spin-Off from Johnson Control International plc)
Magna International, Inc.
Momentive Performance Materials, Inc.
Dow Inc.
Borealis AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Acrylonitrile Butadiene Styrene (ABS)
Polypropylene (PP)
Polyurethane (PU)
Polyvinyl Chloride (PVC)
Polyethylene (PE)
Polycarbonate (PC)
Polymethyl Methacrylate (PMMA)
Polyamide (PA)

By Application:
Electrical components
Interior furnishings
Exterior furnishings
Under-the-hood components

By Process:
Injection Molding
Blow Molding

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Automotive Plastics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Automotive Plastics Market, by Product, 2019-2027 (USD Billion)
1.2.2. Automotive Plastics Market, by Application, 2019-2027 (USD Billion)
1.2.3. Automotive Plastics Market, by Process, 2019-2027 (USD Billion)
1.2.4. Automotive Plastics Market, by xx4, 2019-2027 (USD Billion)
1.2.5. Automotive Plastics Market, by, 2019-2027 (USD Billion)
1.2.6. Automotive Plastics Market, by, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Plastics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Plastics Market Dynamics
3.1. Automotive Plastics Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Significant rise of the automotive industry Ease of designing and weight reduction by plastic usage
3.1.2. Market Challenges Less strength as compared to metal substitutes
3.1.3. Market Opportunities Investments in recyclable plastics for automotive usage
Chapter 4. Global Automotive Plastics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Plastics Market, by Product
5.1. Market Snapshot
5.2. Global Automotive Plastics Market by Product, Performance – Potential Analysis
5.3. Global Automotive Plastics Market Estimates & Forecasts by Product 2018-2027 (USD Billion)
5.4. Automotive Plastics Market, Sub Segment Analysis
5.4.1. Acrylonitrile Butadiene Styrene (ABS)
5.4.2. Polypropylene (PP)
5.4.3. Polyurethane (PU)
5.4.4. Polyvinyl Chloride (PVC)
5.4.5. Polyethylene (PE)
5.4.6. Polycarbonate (PC)
5.4.7. Polymethyl Methacrylate (PMMA)
5.4.8. Polyamide (PA)
5.4.9. Others
Chapter 6. Global Automotive Plastics Market, by Application
6.1. Market Snapshot
6.2. Global Automotive Plastics Market by Application, Performance – Potential Analysis
6.3. Global Automotive Plastics Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.4. Automotive Plastics Market, Sub Segment Analysis
6.4.1. Powertrain
6.4.2. Electrical components
6.4.3. Interior furnishings
6.4.4. Exterior furnishings
6.4.5. Under-the-hood components
6.4.6. Chassis
Chapter 7. Global Automotive Plastics Market, by Process
7.1. Market Snapshot
7.2. Global Automotive Plastics Market by Process, Performance – Potential Analysis
7.3. Global Automotive Plastics Market Estimates & Forecasts by Process 2018-2027 (USD Billion)
7.4. Automotive Plastics Market, Sub Segment Analysis
7.4.1. Injection Molding
7.4.2. Blow Molding
7.4.3. Thermoforming
7.4.4. Others
Chapter 8. Global Automotive Plastics Market, Regional Analysis
8.1. Automotive Plastics Market, Regional Market Snapshot
8.2. North America Automotive Plastics Market
8.2.1. U.S. Automotive Plastics Market Product breakdown estimates & forecasts, 2018-2027 Application breakdown estimates & forecasts, 2018-2027 Process breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Automotive Plastics Market
8.3. Europe Automotive Plastics Market Snapshot
8.3.1. U.K. Automotive Plastics Market
8.3.2. Germany Automotive Plastics Market
8.3.3. France Automotive Plastics Market
8.3.4. Spain Automotive Plastics Market
8.3.5. Italy Automotive Plastics Market
8.3.6. Rest of Europe Automotive Plastics Market
8.4. Asia-Pacific Automotive Plastics Market Snapshot
8.4.1. China Automotive Plastics Market
8.4.2. India Automotive Plastics Market
8.4.3. Japan Automotive Plastics Market
8.4.4. Australia Automotive Plastics Market
8.4.5. South Korea Automotive Plastics Market
8.4.6. Rest of Asia Pacific Automotive Plastics Market
8.5. Latin America Automotive Plastics Market Snapshot
8.5.1. Brazil Automotive Plastics Market
8.5.2. Mexico Automotive Plastics Market
8.6. Rest of The World Automotive Plastics Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.3. Akzo Nobel N.V. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. BASF SE
9.3.3. Covestro AG
9.3.4. Evonik Industries AG
9.3.5. Adient plc (Spin-Off from Johnson Control International plc)
9.3.6. Magna International, Inc.
9.3.7. Momentive Performance Materials, Inc.
9.3.8. SABIC
9.3.9. Dow Inc.
9.3.10. Borealis AG
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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