BRIC AUTOMOTIVE PLASTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 to 2031)

Automotive plastics are used in passenger vehicles and commercial vehicles owing to benefits offered which includes extended shelf-life of the automotive components, enhanced safety, less corrosion, and makes vehicle fuel-efficient. Various type of plastics used for automotive components include Polypropylene (PP), Polyurethane (PU), Poly carbonates (PC), Polyvinyl chloride (PVC), Acrylonitrile butadiene styrene (ABS), and others. Automotive plastics find its application in manufacturing of interior, exterior, and under bonnet parts of the vehicle.

Market Dynamics

Automotive plastics make the vehicle lightweight, yet in addition add to the worth by supplanting ordinary metallic parts and parts with cutting edge lightweight materials. Owning to this these advantages, interest for automotive plastics is expected to ascend at a huge speed over the evaluation period. The increasing launch of bio-based plastics is expected to boost the market growth of BRIC.

Based on product type, BRIC automotive plastics market is segmented into polypropylene, polyurethane, poly carbonates, polyvinyl chloride, acrylonitrile butadiene styrene, and others. In 2021, polypropylene accounted for the largest revenue share and contributed for 32.6% in the same year, followed by polyurethane and acrylonitrile butadiene styrene.

On the basis of distribution channel, the market for automotive plastics is divided into OEM and aftermarket. Wherein, OEM (Original Equipment Manufacturer) segment accounted for the large chunk of the market and contributed for 90.5% in the BRIC automotive plastics market in 2021, followed by aftermarket.

BRIC automotive plastics market was valued at 23,642.09 Mn in terms of value in 2021. China held for the significant market share of 61.8% in terms of value in 2021, followed by Brazil and India. China automotive plastics market is predicted to expand attributing to flourishing automotive industry in the country during the forecast period (2022 to 2030).

Key features of the study:

• This report provides an in-depth analysis of BRIC automotive plastics market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the BRIC automotive plastics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Bayer Material Science, Lyondell Basell, Dow Chemicals Company, Polyplastics Group, Sibur, China XD Plastics Company Ltd., and Saudi Basic Industries Corporation (SABIC)
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The BRIC automotive plastics market report caters to various stakeholders in this industry including investors, suppliers, automotive plastics service providers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the BRIC automotive plastics market

Detailed Segmentation:

• BRIC Automotive Plastics Market, By Product Type:
  • Polypropylene (PP)
  • Polyurethane (PU)
  • Poly carbonates (PC)
  • Polyvinyl chloride (PVC)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Others
• BRIC Automotive Plastics Market, By Application:
  • Interior
  • Exterior
  • Under Bonnet
• BRIC Automotive Plastics Market, By Vehicle Type:
  • Passenger Vehicles
  • Commercial Vehicles
• BRIC Automotive Plastics Market, By Distribution Channel:
  • OEM
  • Aftermarket
•  BRIC Automotive Plastics Market, By Country:
  • Brazil
  • Russia
  • India
  • China
• Company Profiles
  • Bayer Material Science *
    • Company Overview
    • Product Portfolio
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Lyondell Basell
  • Dow Chemicals Company
  • Polyplastics Group
  • Sibur
  • China XD Plastics Company Ltd.
  • Saudi Basic Industries Corporation (SABIC)

“*” marked represents similar segmentation in other categories in the respective section