India Automotive Plastics Market Size & Outlook, 2023-2030
India automotive plastics market, 2018-2030 (US$M)
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India automotive plastics market highlights
- The India automotive plastics market generated a revenue of USD 1,529.2 million in 2023 and is expected to reach USD 2,389.4 million by 2030.
- The India market is expected to grow at a CAGR of 6.6% 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 1,529.2 million |
| Market revenue in 2030 | USD 2,389.4 million |
| Growth rate | 6.6% (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, India accounted for 5.0% 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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India 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 India 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 automotive plastics market is expected to witness substantial growth over the forecast period owing to the growing automotive industry in the country. The increasing disposable income of the middle-class population and the rising young population in the country are the major factors fueling the demand for automobiles in India.
Strong government support & initiatives and increasing investment by the government are also propelling the growth of the automotive industry.The country is also witnessing a surge in domestic automobile production.
According to the India Brand Equity Foundation (IBEF), the country is the largest tractor producer, the second-largest bus manufacturer, and the third-largest heavy truck manufacturer in the world.
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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 India automotive plastics market , including forecasts for subscribers. This country databook contains high-level insights into India automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India automotive plastics market size, by product, 2018-2030 (US$M)
India Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
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