Canada Automotive Plastics Market Size & Outlook
Canada automotive plastics market, 2018-2030 (US$M)
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Canada automotive plastics market highlights
- The Canada automotive plastics market generated a revenue of USD 577.4 million in 2023 and is expected to reach USD 726.4 million by 2030.
- The Canada market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Polycarbonate (PC) is the most lucrative product segment registering the fastest growth during the forecast period.
Automotive plastics market data book summary
| Market revenue in 2023 | USD 577.4 million |
| Market revenue in 2030 | USD 726.4 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polycarbonate (PC) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 1.9% of the global automotive plastics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. automotive plastics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 5,655.3 million by 2030.
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Automotive Plastics Market Scope
Automotive Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 32.99% in 2023. Horizon Databook has segmented the Canada 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.
Canada’s automobile market has been highly affected by the Trans-Pacific Partnership trade deal. Under this agreement, the tariff on imported passenger vehicles are phased out. This is likely to lower the prices of imported cars in the country and create a more competitive landscape for the Canadian manufacturers.
Higher competition is expected to influence the manufacturers to produce cheaper and more efficient vehicles, which, in turn, is projected to drive automotive plastics market in Canada. The Canadian Government's goal of achieving carbon neutrality by 2050 is spurring notable investments in infrastructure and green initiatives, evident in the budgets for 2021, 2022, and 2023.
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Our clientele includes a mix of automotive plastics market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada automotive plastics market , including forecasts for subscribers. This country databook contains high-level insights into Canada automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada automotive plastics market size, by product, 2018-2030 (US$M)
Canada Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
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