Global Automotive Plastics Market to reach USD 36.84 billion by 2027.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.
BASF SE
Covestro AG
Evonik Industries AG
Adient plc (Spin-Off from Johnson Control International plc)
Magna International, Inc.
Momentive Performance Materials, Inc.
SABIC
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)
Others

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

By Process:
Injection Molding
Blow Molding
Thermoforming
Others

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
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
Investors