Exterior Automotive Plastics Global Market Report 2023

Major players in the exterior automotive plastics market are Arkema S.A., BASF SE, Borealis AG, DuPont de Nemours Inc., Royal DSM N.V., Evonic Industries AG, ExxonMobil Corporation, Lanxess, LyondellBasell Industries N.

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Exterior Automotive Plastics Global Market Report 2023" - https://www.reportlinker.com/p06479902/?utm_source=GNW V., Convestro AG, Saudi Arabia’s Basic Industries Corporation, Celanese Corporation, and Salem Industrial Plastics.The global exterior automotive plastics market is expected to grow from $11.25 billion in 2022 to $12.01 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The exterior automotive plastics market is expected to reach $15.07 billion in 2027 at a CAGR of 5.8%.The exterior automotive plastics market consists of sales of body panels, and trims.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Exterior automotive plastics are the plastic materials that are applicable in the manufacturing of exterior components of various vehicles. These plastic materials can be thermoplastic polymers, composites, bioplastics, or other plastic blends.Asia-Pacific was the largest region in the exterior automotive plastics market in 2022. The regions covered in the exterior automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of exterior automotive plastics are thermoplastic polymers, composites, and bioplastics.Polypropylene, a significant member of the polyolefin resin family, is molded or extruded into a wide variety of plastic products when toughness, flexibility, lightweight, and heat resistance are required.The various vehicle types include passenger cars, commercial vehicles, and others.The various materials include polyurethane, polycarbonate, polypropylene, polyethylene, polyamide, polyvinyl chloride and others.These are used in various applications such as bumpers and grills, roofs, lights, liftgates and others.Rising demand from the automotive industry is expected to propel the growth of the exterior automotive plastics market going forward.The automotive industry refers to the industry that comprises of sales and production of various vehicles such as passenger vehicles, hybrid vehicles, and motorcycles.Exterior automotive plastics play a significant role in the automotive industry, as they are used in the production of many parts of a vehicle’s exterior, including body panels, bumpers, grilles, mirrors, and trim, these plastics are often preferred over traditional materials, such as steel or aluminum because they are lighter, more durable, and more resistant to corrosion. For instance, in April 2023, Statistics Canada, a Canada-based government agency, the total number of road motor vehicles registered in Canada increased by 1.9% from 2020 with 26.2 million in 2021. Further, in June 2021, according to the report published by OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association for vehicles, global passenger car sales increased from 53.91 million in 2020 to 56.39 million in 2021. Therefore, the rising demand from the automotive industry drives the exterior automotive plastics market.The adoption of sustainable products is a key trend gaining popularity in the exterior automotive plastics market.Companies operating in the exterior automotive plastics market are adopting sustainable products to sustain their position in the market.For instance, in September 2021, SABIC, a Saudi Arabia-based company engaged in engineering thermoplastics for lighting components and the emerging automotive application introduced recycled automotive grades, the company’s first automotive grades within the company’s TRUCIRCLE portfolio of circular solutions and services.The new resins include XENOY T2NX2500UV resin, an unfilled, SABIC T2E-3320EH PP compound, a high-flow, low-emission, talc-filled polypropylene; UV-stabilized blend of polycarbonate and polyethylene terephthalate; and XENOY T2NX5230 resin, a mineral-filled PC/PET blend that is applicable in the automotive industry.These are sustainable and contain up to 29% recycled content that offers excellent performance, providing automotive customers with new options that can help them address their sustainability goals.In January 2020, BASF a Germany-based chemicals company acquired a polyamide business from Solvay for an undisclosed amount.This acquisition broadens BASF’s polyamide capabilities with innovative and well-known products such as Technyl.This will allow BASF to support its customers with even better engineering plastics solutions, e.g., for autonomous driving and e-mobility. Solvay is a Europe-based company engaged in the mass production of composite materials to make the automotive and aerospace industries more sustainable.The countries covered in the exterior automotive plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The exterior automotive plastics market research report is one of a series of new reports that provides Exterior automotive plastics market statistics, including Exterior automotive plastics industry global market size, regional shares, competitors with an Exterior automotive plastics market share, detailed Exterior automotive plastics market segments, market trends, and opportunities, and any further data you may need to thrive in the Exterior automotive plastics industry. This Exterior automotive plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479902/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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