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Tuesday, January 2, 2024

Plastic Component Market Future Demand and Forecast up to 2032

 Automotive Plastics Market Overview:

The global Automotive Plastics market is expected to exhibit a strong 11.41% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The market is expected to grow from a volume of 137,143 thousand units in 2018 to 281,470.8 thousand units by 2030. The report provides a greatly detailed profile of the global Automotive Plastics market and gives readers an all-inclusive overview of the market. The past, present, and future of the market are studied in the report, with detailed historical analysis, present statistics, and future projections. Historical statistics revealing the market’s historical growth trajectory are studied in detail in the report. Based on these statistics and a study of the major drivers and restraints affecting the market, future projections can be made for the Automotive Plastics market.

Based on this platform, future projections for the Automotive Plastics market’s growth trajectory over the forecast period are provided in the report. A comprehensive analysis of the leading players in the Automotive Plastics market is also provided in the report, which profiles the major players operating in the market. The major factors and trends affecting the global Automotive Plastics market are assessed in the report. The impact of the COVID-19 pandemic on the Automotive Plastics market is also assessed in the report.

Request Free Sample of Plastic Component Market Report

Heavy-duty vehicles include tractors, loaders, scrapers, excavators, heavy trucks, combine harvesters, and buses. The rising penetration of plastic components in heavy-duty vehicles is due to the high demand for lightweight vehicles and associated lightweight components in vehicle applications. There are two varieties of plastics, namely, thermoplastic and thermosetting. The thermoplastic category primarily includes polyamide (PA), acrylonitrile butadiene styrene (ABS), and polycarbonate (PC); while thermosetting includes polyurethane (PU). They are the main materials for plastic components in heavy-duty vehicle applications. Such plastics are widely incorporated in the manufacturing of various components for heavy-duty vehicles. Some of the components that require plastics to manufacture are engine cover, transmission cover, intake air modules, oil pan module, cam cover module, cluster panel/dashboard, bumper, seating, wheel & tire, door, interior & exterior trim, windows & windshields, and electronics. 

The growing agriculture and construction industries are likely to drive the demand for heavy-duty vehicles over the forecast period. However, the growing awareness about the inability of plastic components to biodegrade naturally is likely to be a major restraint on the global Automotive Plastics market over the forecast period. If incinerated, plastic components release carbon monoxide and other toxic gases into the environment. Due to this, end users in the market are likely to demand biodegradable plastics over the coming years. This is likely to remain a major opportunity for players in the Automotive Plastics market over the forecast period.

Automotive Plastics Market Competitive Leader board:

  • Continental AG (Germany)
  • DowDuPont Inc. (US)
  • Magneti Marelli S.p.A. (Italy)
  • FLEX-N-GATE CORPORATION (US)
  • Toyoda Gosei Co. Ltd (Japan)
  • Samvardhana Motherson Group (India)
  • ElringKlinger AG (Germany)
  • Hartford Technologies Inc. (US)
  • Abbott Ball Company Inc. (US)
  • SMB Bearings (UK)

Automotive Plastics Market Segmentation

By Component Type

  • Engine Covers
  • Transmission Covers
  • Intake Air Modules
  • Oil Pan Modules
  • Cam Cover Modules
  • Cluster Panels/Dashboard
  • Bumpers
  • Seating
  • Wheels and Tires
  • Doors
  • Interior & Exterior Trims
  • Others

By Material

  • Polyvinyl chloride (PVC)
  • Polyurethane (PU)
  • Polypropylene (PP)
  • Polyethylene (PE)
  • Polyamide (PA)
  • Acrylonitrile butadiene styrene (ABS)
  • Polycarbonate (PC)
  • Others

By Vehicle Type

  • Tractors
  • Loaders
  • Scrapers
  • Excavators
  • Trucks
  • Combine Harvester
  • Buses

Automotive Plastics Market for Heavy-Duty Vehicles Regional Analysis:

Asia Pacific accounted for close to 75% of the global Automotive Plastics market in 2018 and is likely to retain the dominant share over the forecast period.

Read More:

Glazing Automotive Market Analysis

Automotive Hmi Market Analysis

Automotive Infotainment Market Analysis

 

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