The global automotive plastics market size was US$ 24.1 billion in 2021. The global automotive plastics market is forecast to grow to US$ 42.73 by 2030 by registering a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
Automotive plastics are recyclable, sturdy, and scratch-resistant in nature. Moreover, they are synthetic materials, which are abrasion-resistant and efficiently reduce vibration and noise. Moreover, automotive plastics are used in dashboards, seats, body panels, fuel systems, under-bonnet components, bumpers, liquid reservoirs, interior trim, electrical components, exterior trim, lighting, etc.

Factors Influencing the Market
The rising demand for lightweight vehicles will primarily fuel the growth of the global automotive plastics market. Further, stringent government regulations aimed at reducing the weight of automobiles will also contribute to the growth of the automotive plastics market during the study period.
A growing range of advancements in automotive plastics will also benefit the overall industry by bringing innumerable opportunities. For instance, the popularity of blended thermoplastic materials, lightweight materials, etc., is growing at a rapid pace. Furthermore, the demand for efficient materials with high heat resistance and mechanical properties is escalating, which will be opportunistic for the overall market. On the contrary, expensive design specifications may limit the growth of the market throughout the study period.
Growing disposable income and rising demand for luxury vehicles will also benefit the global automotive plastics market during the study period.

Regional Analysis
The Asia-Pacific automotive plastics market is forecast to emerge as the largest market in terms of revenue. It is majorly owing to the shifting manufacturing bases and rising industrialization in emerging economies. Further, the rapidly rising automotive industry in the region will also contribute to the growth of the global automotive plastics market. The market may witness favorable growth opportunities due to rising emission standards implemented by the authorities.

COVID-19 Impact Analysis
The entire automotive sector witnessed myriad challenges, which resulted in a steep drop in terms of revenue. Due to the pandemic, the demand for automobiles declined drastically, which hampered the growth of the automotive plastics market. Further, the unemployment rate was triggered due to the COVID-19 outbreak, and a wide range of people lost their jobs, which affected their purchasing power. As a result, it impeded the growth of the automotive plastics market. Automotive manufacturers also closed or limited their operations due to the unavailability of laborers and raw materials. Thus, all of these factors impacted the growth of the automotive plastics market.

Competitors in the Market
BASF SE
SABIC
Dow Inc.
AkzoNobel N.V.
Covestro AG
Evonik Industries AG
Borealis AG
Royal DSM N.V.
Magna International, Inc.
Teijin Limited
Other Prominent Players

Market Segmentation
The global automotive plastics market segmentation focuses on Materials, End-User, and Region.
By Materials
Polypropylene (PP)
Polyurethane (PU)
Polyvinylchloride (PVC)
Polyamide (PA)
Acrylonitrile Butadiene Styrene (ABS)
High-Density Polyethylene (HDPE)
Polycarbonate (PC)
Polybutylene Terephthalate (PBT)
Others
By End-User
Interior
Exterior
Under Bonnet
Others
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America