Definition of Market/Industry:

Automotive plastics is a key component of the vehicle and is becoming popular due to the desire for lightweight and low carbon emission vehicles. Automotive plastics is gaining huge demand due to improvement in polymer technology that is capable of delivering high performance and can be used across a range of automotive application such as interior and exterior components and under the bonnet components. Usage of plastics has significantly reduced the weight of the vehicle and enhanced the fuel-efficiency hence contributing to environment sustainability.

BRIC automotive plastics market was valued at US$ 20,082.9 Mn in terms of value and is anticipated to reach value of US$ 40,832.6 Mn by the end of 2027, growing at a CAGR of 8.5% during the forecast period (2019 to 2027).

Drivers

Rising expansion of advanced plastics for manufacturing of automotive component is expected to boost the market growth over the forecast period. For instance, in February 2017, Asahi Kasei Corp. launched an Engineering Plastics Technical Center in Europe on February 6, 2017, as a part of a strategic focus, to expand its European automotive-related business. The new Technical Center will enable Asahi Kasei Europe GmbH to swiftly develop engineering plastics compounds and provide technical solutions that meet the needs of European customers in the automotive industry.

Increasing government rules and regulation on vehicular emission are encouraging automobile manufacturer to introduce lightweight a vehicle which in turn propelling the market growth of the automotive plastics. For instance, in India by the end of 2016, the "Bharat Stage-IV" vehicle emission regulations and fuel quality standards are projected to be implemented across 50 major cities. These norms will prompt Original Equipment Manufacturers to produce more plastics components for application in vehicles.

Figure 1. BRIC Automotive Plastics Market Share, By Country, 2018

BRIC Automotive Plastics  | Coherent Market Insights

China dominated the BRIC automotive plastics market in 2018, accounting for 61.8% share in terms of revenue, followed by Brazil and India, respectively

 

Market Restraints

 

Fluctuating prices of automotive plastics are expected to hinder market growth over the forecast period. This is due to volatility in availability of the raw materials which leads to disturbance in the demand and supply. Moreover, environmental concerns associated with the recyclability of the plastics is another major factor that is expected to restrict the market growth of BRIC automotive plastics.

 

Plastics is not good conductors of heat and hence it cannot be used where high thermal conductivity is required. For that plastics are used in combination with metals parts. This factor is expected to hamper the market growth of automotive plastics. Moreover, intense competition from the substitute materials such as steel and aluminum in terms of recyclability and high strength is projected to hinder the market growth of BRIC automotive plastics over the forecast period.

 

Market Opportunities

 

An increasing number of partnerships among key players for providing high-performance plastics is expected to foster market growth. For instance, in March 2019, Formosa Plastics Corporation, U.S.A. ("Formosa") and Entec Polymers ("Entec") are announcing their partnership to supply the automotive market with Formosa's lineup of highly specified Formolene polyolefin resins. Hence, an increasing number of partnerships is expected to fuel market growth.

 

The increasing launch of bio-based plastics is expected to boost the market growth of BRIC. For instance, in June 2019, Lyondell Basell has joined forces with a Finland-based energy company to manufacture two types of plastics made from renewable sources instead of fossil fuels. The new bio-based polypropylene and low-density polyethylene products are two of the most common types of plastics. Hence, increasing production of bio-based plastics is expected to foster the market. 

Figure 2. BRIC Automotive Plastics Market – Opportunity Analysis

BRIC Automotive Plastics  | Coherent Market Insights

Market Trends/Key Takeaways

Shifting consumer preferences for a new design and lightweight vehicle as advanced plastics is highly preferred by producers to produce attractive look and advanced aerodynamic shapes. Moreover, advanced plastics is easy to mold into desired shapes without increasing the weight of the vehicle. Hence, rising demand for new design vehicle with the lightweight vehicle is expected to fuel the market growth of BRIC automotive plastics

The increasing introduction of mid-segment passenger cars in APAC is expected to boost the market growth of BRIC automotive plastics. For instance, in April 2018, the five new models are sedan and hatchback versions of the redesigned Focus car, sedan, and hatchback versions of the sporty Focus ST-Line model, as well as the redesigned Escort car. These new launches are a testament to Ford's ongoing commitment to China's critical midsize car market.

Figure 3. BRIC Automotive Plastics Market – Value Chain Analysis

BRIC Automotive Plastics  | Coherent Market Insights

Based on application, BRIC automotive plastics market is divided into interior, exterior, and under bonnet. In 2018, interior application accounted for the largest market share of 57.0%, in terms of revenue, followed by exterior and under bonnet applications.

Figure 4. BRIC Automotive Plastics Market Share, By Application, 2018

BRIC Automotive Plastics  | Coherent Market Insights

Competitive Section:

 

Company Profiles

Players active in the market are Bayer Material Science, Lyondell Basell, Dow Chemicals Company, Polyplastics Group, Sibur, China XD Plastics Company Ltd., and Saudi Basic Industries Corporation (SABIC)

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

Based on product type, BRIC automotive plastics market is segmented into polypropylene, polyurethane, poly carbonates, polyvinyl chloride, acrylonitrile butadiene styrene, and others. In 2018, 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 2018, followed by aftermarket.

BRIC automotive plastics market was valued at US$ 20,082.9 Mn in terms of value in 2018. China held for the significant market share of 61.8% in terms of value in 2018, 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 (2019 to 2027).

Key features of the study:

  • This report provides in-depth analysis of BRIC Automotive Plastics market and provides market size (US$ million & Thousand Kg) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, country outlook, and competitive strategy adopted by the leading players
  • It profiles leading 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 includes, Bayer Material Science, Lynodell 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 the management authorities of the companies to make informed decision regarding their future products 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, functional food manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the 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
      • By Product Type
        • Polypropylene (PP)
        • Polyurethane (PU)
        • Poly carbonates (PC)
        • Polyvinyl chloride (PVC)
        • Acrylonitrile Butadiene Styrene (ABS)
        • Others
      • By Application
        • Interior
        • Exterior
        • Under Bonnet
      • By Vehicle Type
        • Passenger Vehicles
        • Commercial Vehicles
      • By Distribution Channel
        • OEM
        • Aftermarket
    • Russia
      • By Product Type
        • Polypropylene (PP)
        • Polyurethane (PU)
        • Poly carbonates (PC)
        • Polyvinyl chloride (PVC)
        • Acrylonitrile Butadiene Styrene (ABS)
        • Others
      • By Application
        • Interior
        • Exterior
        • Under Bonnet
      • By Vehicle Type
        • Passenger Vehicles
        • Commercial Vehicles
      • By Distribution Channel
        • OEM
        • Aftermarket
    • India
      • By Product Type
        • Polypropylene (PP)
        • Polyurethane (PU)
        • Poly carbonates (PC)
        • Polyvinyl chloride (PVC)
        • Acrylonitrile Butadiene Styrene (ABS)
        • Others
      • By Application
        • Interior
        • Exterior
        • Under Bonnet
      • By Vehicle Type
        • Passenger Vehicles
        • Commercial Vehicles
      • By Distribution Channel
        • OEM
        • Aftermarket
    • China
      • By Product Type
        • Polypropylene (PP)
        • Polyurethane (PU)
        • Poly carbonates (PC)
        • Polyvinyl chloride (PVC)
        • Acrylonitrile Butadiene Styrene (ABS)
        • Others
      • By Application
        • Interior
        • Exterior
        • Under Bonnet
      • By Vehicle Type
        • Passenger Vehicles
        • Commercial Vehicles
      • By Distribution Channel
        • OEM
        • Aftermarket
  • Company Profiles
    • Bayer Material Science*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Lynodell 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.

Table of Contents

  1. Research Objective and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Application
      • Market Snippet By Vehicle Type
      • Market Snippet By Distribution Channel
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
      • Overview of the Parent Industry
  4. BRIC Automotive Plastics Market, By Product Type, 2018- 2027 (US$ Million & Thousand Kg)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2018 - 2027
      • Segment Trends
    • Polypropylene (PP)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Polyurethane (PU)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Poly carbonates (PC)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Polyvinyl chloride (PVC)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Acrylonitrile butadiene styrene (ABS)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
  5. BRIC Automotive Plastics Market, By Application, 2018- 2027 (US$ Million & Thousand Kg)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2018 - 2027
      • Segment Trends
    • Interior
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Exterior
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Under Bonnet
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
  6. BRIC Automotive Plastics Market, By Vehicle Type, 2018- 2027 (US$ Million & Thousand Kg)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2018 - 2027
      • Segment Trends
    • Passenger Vehicles
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Commercial Vehicles
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
  7. BRIC Automotive Plastics Market, By Distribution Channel, 2018- 2027 (US$ Million & Thousand Kg)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2018 - 2027
      • Segment Trends
    • OEM
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
    • Aftermarket
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 - 2027, (US$ Million & Thousand Kg)
  8. BRIC Automotive Plastics Market, By Country, 2018- 2027 (US$ Million & Thousand Kg)
    • Introduction
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Vehicle Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million & Thousand Kg)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Vehicle Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million & Thousand Kg)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Vehicle Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million & Thousand Kg)
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Vehicle Type, 2017- 2027 (US$ Million & Thousand Kg)
          • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Million & Thousand Kg)
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Bayer Material Science
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Lynodell Basell
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Dow Chemicals Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • PolyPlastics Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Sibur
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • China XD Plasticss Company Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Saudi Basic Industries Corporation (SABIC)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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