The Global Automotive Plastics Market Is Expected To Grow With A Cagr Of 4.8% From 2023 To 2030

By Author: Lucintel LLC
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According to a market report by Lucintel, the future of the global automotive plastics market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets. The global automotive plastics market is expected to reach an estimated $37 billion by 2030 from $26 billion in 2023 at a CAGR of 4.8% from 2023 to 2030. The major drivers for this market are increasing demand for lightweight materials for OEMs, increasing consumer demand for personalized and comfortable driving experiences, and ongoing advancements in plastic materials, such as the development of high-performance polymers and composites.
In this market, interior, exterior, under the hood, and electrical components are the major segments of automotive plastics market by application.
Lucintel forecasts that interior will remain the largest segment over the forecast period due to reducing vibration and noise levels and pose a low threat for humans in case of accidents.
Within this market, passenger cars will remain the largest segment due to increasing plastic content per vehicle in emerging applications.
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Europe is expected to witness the highest growth over the forecast period due to increasing use of plastic content per vehicle coupled with stringent government regulations to reduce carbon emissions.
BASF, Lyondellbassell, Du Pont. Co, Borealis AG, and Dow Chemicals are the major suppliers in the automotive plastics market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get acces of more than 1000 reports at fraction of cast visit Lucintel’s Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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