Asia Pacific Automotive Plastics Market Size & Outlook
Asia Pacific automotive plastics market, 2018-2030 (US$M)
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Asia Pacific automotive plastics market highlights
- The Asia Pacific automotive plastics market generated a revenue of USD 14,016.8 million in 2023.
- The market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Polyvinyl Chloride (PVC) is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 14,016.8 million |
| Market revenue in 2030 | USD 20,959.4 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polyvinyl Chloride (PVC) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene (PE), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Polyamide (PA) |
| Key market players worldwide | Akzo Nobel NV, Basf SE, Covestro AG, Evonik Industries AG, Adient PLC, Magna International Inc, Momentive, SABIC, Dow Inc, Hanwha, Grupo Antolin, Lear Corporation, Owens-Corning Inc, Quadrant Group, Koninklijke DSM NV, Teijin Ltd |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.0% of the global automotive plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 20,959.4 million by 2030.
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Automotive Plastics Market Scope
Automotive Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific automotive plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive plastics market will help companies and investors design strategic landscapes.
Polypropylene (pp) was the largest segment with a revenue share of 32.73% in 2023. Horizon Databook has segmented the Asia Pacific automotive plastics market based on acrylonitrile butadiene styrene (abs), polypropylene (pp), polyurethane (pu), polyvinyl chloride (pvc), polyethylene (pe), polycarbonate (pc), polymethyl methacrylate (pmma), polyamide (pa) covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is characterized by the availability of cheap labor, land, and resources. The growing automotive industry especially in emerging economies such as India, China, Vietnam, Indonesia, and Thailand is expected to positively influence the growth of automotive plastics market over the forecast period.
Expanding manufacturing base and increasing investments in technological advancements pertaining to vehicle production process are expected to positively influence the automotive sector. Automotive plastics exhibit superior properties including toughness, recyclability, durability, thermal stability.
Design flexibility, corrosion resistance, and resilience, as well as are lightweight. These plastics are widely used in automobiles in exterior, interior, chassis, and engine components to reduce the overall weight of the vehicle, thereby increasing fuel efficiency.
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Target buyers of Asia Pacific automotive plastics market databook
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Our clientele includes a mix of automotive plastics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific automotive plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific automotive plastics market size, by country, 2018-2030 (US$M)
Asia Pacific Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
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