Exterior Automotive Plastics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The exterior automotive plastics market has experienced robust growth in recent years, expanding from $12.01 billion in 2023 to $12.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to the industrialization of livestock farming, animal health and productivity, fluctuations in feed ingredient prices, globalization of livestock production, nutritional awareness, and regulatory support.
Strong Future Growth Anticipated
The exterior automotive plastics market is projected to continue its strong growth, reaching $16.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising demand for aquaculture feed, alternative protein sources, biosecurity concerns, the impact of climate change, and growing demand for animal protein.
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Growth Driver Of The Exterior Automotive Plastics MarketRising demand from the automotive industry is expected to propel the growth of the exterior automotive plastics market going forward. The automotive industry refers to the industry that comprises of sales and production of various vehicles such as passenger vehicles, hybrid vehicles, and motorcycles. Exterior automotive plastics play a significant role in the automotive industry, as they are used in the production of many parts of a vehicle's exterior, including body panels, bumpers, grilles, mirrors, and trim, these plastics are often preferred over traditional materials, such as steel or aluminum because they are lighter, more durable, and more resistant to corrosion.
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Major Players And Market TrendsKey players in the exterior automotive plastics market include Arkema S.A., BASF SE, Borealis AG, DuPont de Nemours Inc., Royal DSM N.V., Evonic Industries AG, ExxonMobil Corporation.Major companies operating in the exterior automotive plastics market are innovating new technological products, such as nanocellulose fiber-reinforced plastics, to provide sustainable and innovative solutions for the automotive industry. Nanocellulose fiber-reinforced plastics are a technology. It entails the creation of high-performance biocomposites by using nanocellulose as a reinforcing agent in polymer matrices.
Segments:1) By Type: Thermoplastic polymers, Composites, Bioplastics2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Other Vehicle Types3) By Material: Polyurethane, Polycarbonate, Polypropylene, Polyethylene, Polyamide, Polyvinyl Chloride, Other Materials4) By Application: Bumpers and Grills, Roof, Lights, Liftgate, Other Applications
Geographical Insights: Asia-Pacific Leading The MarketAsia-Pacific was the largest region in the exterior automotive plastics market in 2023. The regions covered in the exterior automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Exterior Automotive Plastics Market DefinitionExterior automotive plastics are the plastic materials that are applicable in the manufacturing of exterior components of various vehicles. These plastic materials can be thermoplastic polymers, composites, bioplastics, or other plastic blends.
Exterior Automotive Plastics Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Exterior Automotive Plastics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on exterior automotive plastics market size, exterior automotive plastics market drivers and trends, exterior automotive plastics market major players, exterior automotive plastics competitors' revenues, exterior automotive plastics market positioning, and exterior automotive plastics market growth across geographies. The exterior automotive plastics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Originally published at https://www.einpresswire.com/article/737656745/global-exterior-automotive-plastics-market-overview-and-statistics-for-2024-2033
