Automotive Plastics Market, Global, 2024–2031

This study presents a comprehensive analysis of the global market for automotive polymers, with a focus on regional segmentation, revenue, and volume metrics from 2021 to 2031. By examining historical data and projecting future trends, the study offers a seven-year forecast from 2025 to 2031, using 2023 as the base year.

Segmentation by:
• Powertrain: Internal combustion engine (ICE) & hybrids, and electric vehicles (EVs)
• Polymer: Commodity polymers, engineering polymers, high-performance polymers, and thermoplastic elastomers
• Application: Exterior, interior, lighting & electrical and electronics (E&E), under-the-hood (UTH)
• Region: Americas; Europe; Asia-Pacific (APAC); Middle East, South Asia, and Africa (MEASA)

The Americas, with the United States at the forefront, represent a major market for automotive plastics, driven by the region’s strong automotive manufacturing presence and innovation ecosystem. The shift toward vehicle lightweighting to improve fuel efficiency and reduce emissions has accelerated the adoption of advanced engineering plastics in place of traditional metals. Europe maintains a sophisticated market for automotive plastics, heavily influenced by the region’s strict regulatory environment focused on sustainability and end-of-life vehicle management.

The MEASA region shows varied adoption of automotive plastics, reflecting the diverse nature of its automotive markets. These markets are particularly focused on materials that can withstand extreme temperatures and harsh environmental conditions. APAC represents the largest and fastest-growing market for automotive plastics, with China, Japan, and South Korea leading in both production and consumption. China’s position as the world’s largest automotive market drives massive demand for conventional plastics like PP and PE in mainstream vehicles, while its rapidly expanding EV sector is creating new applications for engineering plastics in battery systems and lightweighting solutions.

The study’s methodology involves an in-depth analysis of the volume and revenue for each polymer type, end use, and region, providing insights into the factors driving growth and potential challenges. The forecast is based on the expected compound annual growth rates (CAGRs), offering a strategic view of the market’s evolution. Show more