Automotive Plastics Market Size Worth $68.5 Billion by 2025 | Key Industry participants Evonik Industries AG, Johnson Controls

The global automotive plastics market is expected to reach USD 68.5 billion by 2025, according to a new report by Grand View Research, Inc. The shift in trend towards high-performance plastics to substitute conventional metals & rubber is expected to drive demand.

The quality of plastics is highly dependent upon their properties, functions, and applications. Superior properties such as light weight, versatility and flexibility have fostered technological innovations and design freedom using plastic materials. Streamlined mass production has enabled the provision of technologically sound and cost-efficient products with high sustainability.

Utilization of polymer matrix and carbon fiber composites are expected to enable car body-weight reductions of 25% to 75%. They contribute to lower vehicle weight, essential for emission reduction and fuel conservation while supporting the additional weight of advanced safety equipment.

Stringent regulations such as the Corporate Average Fuel Economy (CAFE) in North America have compelled automobile OEMs to seek alternative methods of vehicular weight reduction in order to improve efficiency. Light weight is likely to remain a crucial factor for complying with such regulations, owing to the inherent correlation between mass and fuel consumption.

Polycarbonate (PC) is expected to emerge as the fastest-growing product with an estimated CAGR of around 9.7% from 2017 to 2025. Polycarbonate offers excellent properties include weathering, optical, thermal and electrical. It also provides a unique combination of stiffness, toughness, and hardness.

Browse Research Report on Automotive Plastics Market:

www.grandviewresearch.com/industry-analysis/automotive-plastics-market

Further key findings from the report suggest:

  • Global automotive plastics demand was estimated at over 10 million tons in 2015 and is expected to grow at a CAGR of 9.0% from 2017 to 2025
  • Powertrains are expected to emerge as the fastest-growing application to exceed revenue of about USD 950 million by 2025. Powertrain engineering applications assist vehicle manufacturers to reduce weight & integrate complex parts, which ultimately delivers higher productivity, boosts performance, and cost savings.
  • Asia Pacific is projected to witness substantial growth over the next decade owing to expanding regional manufacturing base and increasing investments in advanced processing technologies. The market is expected to grow at a CAGR of 12.2% from 2017 to 2025.
  • Major participants include AkzoNobel N.V, BASF SE, Covestro, Evonik Industries AG, Johnson Controls, Magna International, 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 among others.
  • BASF SE recently announced a price increase by of about 10% for a majority of its plastic additive products, such as antioxidants, light stabilizers, flame retardants, and others.

View more reports of this category by Grand View Research at

www.grandviewresearch.com/industry/plastics-polymers-and-resins

Grand View Research has segmented the global automotive plastics market on the basis of product, application, and region:

Automotive Plastics Product Outlook (Volume, Kilo Tons; 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

View press release of this research report by Grand View Research:

www.grandviewresearch.com/press-release/global-automotive-plastics-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.

For more information: www.grandviewresearch.com

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