Automotive Thermoplastics Market Size and Forecast 2030
                     2022
Automotive Thermoplastics Market 
Opportunities, Growth, Challenges, Business 
Trends and Forecast 2030
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The mushrooming popularity of lightweight and fuel-efficient vehicles is pushing up the worldwide demand for 
automotive thermoplastics. This is because thermoplastic components are extensively used for reducing the 
weight of the automobile, which, in turn, causes a sharp rise in its fuel economy. Moreover, as thermoplastics are 
heavily used in various applications in the automobile industry, the expansion of this industry, owing to the 
burgeoning manufacturing and sales of automobiles, especially in the Asia-Pacific (APAC) region, is driving their 
demand across the world. 
According to the Organisation Internationale des Constructeurs d'Automobiles, 77,971,234 automobiles were 
sold all over the world in 2020. Furthermore, as per the India Brand Equity Foundation (IBEF), the automotive 
industry in India is predicted to witness its value rise to Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. 
These materials are being increasingly used in the manufacturing of several automobile parts, such as bearing 
parts, vehicle-body, and battery frames. Due to these factors, the value of the global automotive thermoplastics 
market will surge massively in the coming years.
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Interior, powertrain, chassis, and exterior automobile parts are the major application areas of automotive 
thermoplastics. Amongst these, the usage of thermoplastics is currently the highest in the vehicle’s exterior parts, 
such as doors, deck lids, body in white, hood, and roof. In these parts, thermoplastics are used for providing 
toughness and strength and also for reducing the overall weight. Across the globe, the sales of these materials were 
observed to be the highest in the APAC region during the last few years.
Moreover, the demand for these parts is predicted to rise at the fastest pace in this region over the next few years. 
This is ascribed to the fact that the APAC region is the world’s largest automobile manufacturing region. For example, 
the region witnessed the production of 52.5 million automobiles in 2018. Additionally, with the increasing disposable 
income of people and the rising urbanization rate, the sales of automobiles are soaring, which is, in turn, propelling 
the requirement for automotive thermoplastics in the region.
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For instance, according to the estimates of the IBEF, the automobile industry in India will exhibit huge 
expansion in 2021–2022. Additionally, the country will witness a sharp surge in the sales of electric vehicles, 
particularly two-wheelers, in 2021–2022. One of the major trends currently being witnessed in the automotive 
thermoplastics market is the growing adoption of carbon fiber reinforced plastics (CFRP), produced from 
thermoplastics, in racing and luxury vehicles. 
This is attributed to the various beneficial characteristics of these parts and the several advantages of using 
them over the conventionally used plastics. For example, the use of CFRP-based components assists vehicle 
manufacturers in producing lightweight and high strength-exhibiting vehicles. BASF SE, Toray Industries Inc., 
Nippon Sheet Glass Co. Ltd., Quickstep Holdings Ltd., Celanese Corp., Gurit Holding AG, Jushi Group Co. Ltd., 
Saudi Basic Industries Corp. (SABIC), Teijin Ltd., and Dow Chemical Co. Ltd. are some of the leading automotive 
thermoplastic producing companies across the world. 
Thus, it can be said with confidence that the demand for automotive thermoplastics will explode in the coming 
years, mainly because of the growing requirement for lightweight vehicles and the expansion of the 
automotive industry across the world. 
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Geographical Analysis
•North America 
• U.S. and Canada
•Europe 
• U.K., France, Germany, Russia, Italy, and rest of Europe
•APAC 
• China, Japan, India, South Korea, Australia, and rest of APAC
•Latin America 
• Brazil, Argentina, Mexico, rest of Latin America
•MEA Automotive Thermoplastics Market
• South Africa, Egypt, U.A.E., Saudi Arabia, and rest of MEA
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This study covers
1. Historical and the present size of the Automotive Thermoplastics Market
2. Historical and the present size of the market segments and understand their comparative future potential
3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their 
offerings
4. Competitive scenario of various market segments across key countries in several regions for uncovering 
market opportunities for the stakeholders
5. Major players operating in the market and their service offerings
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