China Automotive Plastics Market Size & Outlook, 2023-2030
China automotive plastics market, 2018-2030 (US$M)
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China automotive plastics market highlights
- The China automotive plastics market generated a revenue of USD 5,725.8 million in 2023 and is expected to reach USD 8,665.1 million by 2030.
- The China market is expected to grow at a CAGR of 6.1% 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.
Automotive plastics market data book summary
| Market revenue in 2023 | USD 5,725.8 million |
| Market revenue in 2030 | USD 8,665.1 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polyvinyl Chloride (PVC) |
| 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, China accounted for 18.8% 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 Asia Pacific, China automotive plastics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,389.4 million by 2030.
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Automotive Plastics Market Scope
Automotive Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 32.7% in 2023. Horizon Databook has segmented the China 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.
The rapidly evolving automotive industry in China is driving the demand for automotive plastics, as manufacturers strive to comply with environmental standards and governmental regulations pertaining to vehicle weight and emission levels. Plasticss are increasingly being utilized in vehicles to reduce weight, promote fuel savings, and enhance efficiency.
The automotive plastics market in China is also poised to benefit from the government's substantial subsidies to manufacturers and favorable discounts and incentives for customers who purchase electric cars. This trend is particularly promising, given the rising popularity of electric vehicles and their potential to revolutionize the automotive industry.
China is extremely rich in resources, such as petrochemical reserves, and is characterized by the availability of highly skilled labor. Major automotive plastics players are shifting their manufacturing facilities to China on account of rising demand for the product coupled with a favorable business environment.
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Target buyers of China 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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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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Horizon Databook provides a detailed overview of country-level data and insights on the China automotive plastics market , including forecasts for subscribers. This country databook contains high-level insights into China automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China automotive plastics market size, by product, 2018-2030 (US$M)
China Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
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