Automotive Plastic Market – Industry Analysis, Trends, and Forecast Global Automotive Plastic market

Automotive Plastic Market – Industry Analysis, Trends, and Forecast
To 2025
Global Automotive Plastic market report provides analysis for the period 2013–
2025, wherein the period from 2018 to 2025 is the forecast period and 2017
as base year. The market study reveals that the global automotive plastic market
is expected to grow with a CAGR over 12.72% during 2018-2025 in terms of value.
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$59.1Bn by the end of the
forecast period.
Rising trend of installing infotainment (entertainment) system, touch screen dashboard
navigation system and satellite radio, help drivers stay connected and entertain on the road.
Shifting consumer focus from car’s performance to convenient infotainment systems with
the latest tech features are accelerating automotive plastic demand. The automotive plastic
market looks promising with opportunities in electric vehicles, lightweight commercial
vehicles, and passenger cars. The automotive manufacturers are considering lighter, less
expensive automotive parts, also installing new electronics in vehicles driving numerous
innovations in the industry
Competitive Dynamics
Companies, such as BASF SE, Evonik Industries AG, LG CHEM., SABIC., Exxon Mobil
Corporation and DowDupont are the key players in automotive plastics which are essential
for global automotive market. In terms of product offerings, SABIC and BASF SE are the
major players in the market, providing automotive plastics for various purposes.
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plastic#ReportSample/
Increasing demand for light weighted vehicles to gain higher fuel efficiency is
driving the global automotive plastic market
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
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