(MENAFN- EIN Presswire) EINPresswire/ -- How Much Is The Exterior Automotive Plastics Market Worth?
In recent times, the size of the exterior automotive plastics market has experienced robust growth. The market, valued at $12.7 billion in 2024, is predicted to escalate to $13.34 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.1%. The substantial growth observed in the historic period can be accredited to factors such as livestock farming industrialization, animal health and productivity, volatility in feed ingredient prices, the globalization of livestock production, heightened nutritional awareness, and regulatory backing.

Expectations suggest that the exterior automotive plastics market, currently poised for robust growth, is predicted to reach a value of $17.08 billion by the year 2029, expanding at a compound annual growth rate (CAGR) of 6.4%. Several factors contribute to the expected growth within this forecast period, including an increased demand for aquaculture feed, exploring alternative protein sources, concerns related to biosecurity, climate change impacts, and a steady demand for animal protein. The period will also witness significant industry trends such as advancements in feed formulation technology, enhanced traceability and transparency, digital technology integration, innovative feed additives development, and a thrust towards sustainable sourcing.

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What Are The Factors Driving The Exterior Automotive Plastics Market?
The growth of the exterior automotive plastics market is predicted to be fueled by the escalating demand from the automotive sector. The automotive sector encompasses the sales and creation of a variety of vehicles, from passenger vehicles, hybrid vehicles, to motorcycles. Exterior automotive plastics hold a crucial role in this industry, being utilised in manufacturing numerous external parts of a vehicle like body panels, bumpers, grilles, mirrors, and trim. In comparison to traditional materials such as steel or aluminum, these plastics are often chosen for their lighter weight, enhanced durability, and higher resistance to corrosion. In support of this, the European Automobile Manufacturers Association, a trade organisation based in Belgium, reported in May 2023 that global production of motor vehicles surged by 5.7% to 85.4 million units in 2022, from the preceding year. As a result, the burgeoning demand from the automotive sector propels the exterior automotive plastics market.

Who Are The Major Players In The Exterior Automotive Plastics Market?
Major players in the Exterior Automotive Plastics include:
. Arkema S.A.
. BASF SE
. Borealis AG
. DuPont de Nemours Inc.
. Royal DSM N.V.
. Evonic Industries AG
. ExxonMobil Corporation
. Lanxess
. LyondellBasell Industries N.V.
. Convestro AG

What Are The Key Trends And Market Opportunities In The Exterior Automotive Plastics Sector?
The trend towards the usage of eco-friendly products is increasingly noticeable in the exterior automotive plastics market. Companies active in this space are gravitating towards these sustainable items to maintain their market standing. For example, in February 2024, AkzoNobel NV, a Netherlands-originating business specialized in paints, coatings, and specialty chemicals, unveiled a 2K solvent-borne primer in conductive and dark grey. This primer is specifically tailored for automotive OEM exterior plastic elements, which are notorious for presenting adhesion challenges to customers. Plastics like polypropylene tend to have a low polarity which results in reduced surface energy and poor adhesion, making the coating procedure for parts including bumpers, rocker panels, and contrasting features problematic.

Which Segment Accounted For The Largest Exterior Automotive Plastics Market Share?
The exterior automotive plastics market covered in this report is segmented –

1) By Type: Thermoplastic polymers, Composites, Bioplastics
2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Other Vehicle Types
3) By Material: Polyurethane, Polycarbonate, Polypropylene, Polyethylene, Polyamide, Polyvinyl Chloride, Other Materials
4) By Application: Bumpers and Grills, Roof, Lights, Liftgate, Other Applications

Subsegments:
1) By Thermoplastic Polymers: Polypropylene (PP), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polyamide (Nylon)
2) By Composites: Glass Fiber Reinforced Plastics (GFRP), Carbon Fiber Reinforced Plastics (CFRP), Natural Fiber Reinforced Plastics
3) By Bioplastics: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Plastics

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What Are The Regional Trends In The Exterior Automotive Plastics Market?
In 2024, the Asia-Pacific held the leading position in the exterior automotive plastics market. The report on the said market provides coverage for the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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