The global automotive plastics market estimated to be valued US $ 29.22 Bn in 2020 and poised to grow at significant CAGR nearly 9.8% over 2021-2027. Due to the increase in the economic conditions rising in automobile user’s population across the globe. Additionally, replacing traditionally used materials with highly advanced plastics for automobile manufacturing to enhance the features such as less weight, more appeal and to increase the fuel efficiency. Moreover, technological advancement for new innovations and techniques for development of specialized materials for will boosts the growth of the market. However, high cost of raw materials, non-degradable nature and the concerns related with environmental pollution due to the toxicity released during the manufacturing process are the major factors that hinder the growth of the market.
Global automotive plastics market report gives comprehensive outlook on automotive plastics across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of by process, technologies, chemicals type, instrumentation type, equipment type, product category, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global automotive plastics market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global automotive plastics products. Global automotive plastics market is surging owing to frequent acquisitions and launchings by the market players. In June 2018, Magna International Inc., acquired OLSA S.p.A. (Italy) this acquisition will help the company to enhance and boost its lighting business solutions worldwide.