Latin America Automotive Plastics Market Size & Outlook
Latin America automotive plastics market, 2018-2030 (US$M)
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Latin America automotive plastics market highlights
- The Latin America automotive plastics market generated a revenue of USD 1,333.3 million in 2023.
- The market is expected to grow at a CAGR of 3.8% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,333.3 million |
| Market revenue in 2030 | USD 1,727.6 million |
| Growth rate | 3.8% (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, Latin America region accounted for 4.4% 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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Latin America 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 32.87% in 2023. Horizon Databook has segmented the Latin America 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.
Automobile manufacturers in Central & South America prefer plastic components as they are energy efficient and help in the reduction of the overall weight of the vehicle. In addition, automotive plastics provide weather resistance, design flexibility, resilience, high performance at low costs, toughness, durability, and corrosion resistance.
Automotive sector is the third-largest consumer of plastics in Central & South America. Interior furnishing is a dominant application segment for automotive plastics in the region. Moreover, high electric vehicle production in the region is expected to drive the automotive plastics market over the forecast period.
The increasing demand for vehicles in the country and the country’s strategic location for export are expected to drive the need for advanced materials such as automotive plastics. As Argentina positions itself as a regional automotive manufacturing hub, the demand for lightweight, durable, and cost effective materials becomes integral.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automotive plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive plastics market size, by country, 2018-2030 (US$M)
Latin America Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
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