Automotive Thermoplastics Market Analysis, Growth Opportunities and Forecast to 2030

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2022
Automotive Thermoplastics Market Opportunities,
Growth, Challenges, Business Trends and Forecast
2030
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The mushrooming popularity of lightweight and
fuel-efficient vehicles is pushing up the
worldwide demand for automotive thermoplastics.
This is because thermoplastic components are
extensively used for reducing the weight of the
automobile, which, in turn, causes a sharp rise
in its fuel economy. Moreover, as thermoplastics
are heavily used in various applications in the
automobile industry, the expansion of this
industry, owing to the burgeoning manufacturing
and sales of automobiles, especially in the
Asia-Pacific (APAC) region, is driving their
demand across the world. According to the
Organisation Internationale des Constructeurs
d'Automobiles, 77,971,234 automobiles were sold
all over the world in 2020. Furthermore, as per
the India Brand Equity Foundation (IBEF), the
automotive industry in India is predicted to
witness its value rise to Rs. 16.16-18.18
trillion (US 251.4-282.8 billion) by 2026. These
materials are being increasingly used in the
manufacturing of several automobile parts, such
as bearing parts, vehicle-body, and battery
frames. Due to these factors, the value of the
global automotive thermoplastics market will
surge massively in the coming years.
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Interior, powertrain, chassis, and exterior
automobile parts are the major application areas
of automotive thermoplastics. Amongst these, the
usage of thermoplastics is currently the highest
in the vehicles exterior parts, such as doors,
deck lids, body in white, hood, and roof. In
these parts, thermoplastics are used for
providing toughness and strength and also for
reducing the overall weight. Across the globe,
the sales of these materials were observed to be
the highest in the APAC region during the last
few years. Moreover, the demand for these parts
is predicted to rise at the fastest pace in this
region over the next few years. This is ascribed
to the fact that the APAC region is the worlds
largest automobile manufacturing region. For
example, the region witnessed the production of
52.5 million automobiles in 2018. Additionally,
with the increasing disposable income of people
and the rising urbanization rate, the sales of
automobiles are soaring, which is, in turn,
propelling the requirement for automotive
thermoplastics in the region. Request to Get the
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For instance, according to the estimates of the
IBEF, the automobile industry in India will
exhibit huge expansion in 20212022.
Additionally, the country will witness a sharp
surge in the sales of electric vehicles,
particularly two-wheelers, in 20212022. One of
the major trends currently being witnessed in the
automotive thermoplastics market is the growing
adoption of carbon fiber reinforced plastics
(CFRP), produced from thermoplastics, in racing
and luxury vehicles. This is attributed to the
various beneficial characteristics of these parts
and the several advantages of using them over the
conventionally used plastics. For example, the
use of CFRP-based components assists vehicle
manufacturers in producing lightweight and high
strength-exhibiting vehicles. BASF SE, Toray
Industries Inc., Nippon Sheet Glass Co. Ltd.,
Quickstep Holdings Ltd., Celanese Corp., Gurit
Holding AG, Jushi Group Co. Ltd., Saudi Basic
Industries Corp. (SABIC), Teijin Ltd., and Dow
Chemical Co. Ltd. are some of the leading
automotive thermoplastic producing companies
across the world. Thus, it can be said with
confidence that the demand for automotive
thermoplastics will explode in the coming years,
mainly because of the growing requirement for
lightweight vehicles and the expansion of the
automotive industry across the world.
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• Geographical Analysis
• North America
• U.S. and Canada
• Europe
• U.K., France, Germany, Russia, Italy, and rest of
  Europe
• APAC
• China, Japan, India, South Korea, Australia, and
  rest of APAC
• Latin America
• Brazil, Argentina, Mexico, rest of Latin America
• MEA Automotive Thermoplastics Market
• South Africa, Egypt, U.A.E., Saudi Arabia, and
  rest of MEA
• Browse Others Latest Reports by PS Intelligence
• Automotive Alloy Market
• Wireless EV Charging Market

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This study covers 1. Historical and the present
size of the Automotive Thermoplastics
Market 2. Historical and the present size of the
market segments and understand their comparative
future potential 3. Potential of on-demand
logistics services, so the market players make
informed decisions on the sales of their
offerings 4. Competitive scenario of various
market segments across key countries in several
regions for uncovering market opportunities for
the stakeholders 5. Major players operating in
the market and their service offerings
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