Europe Automotive Plastics Market Size (2024 - 2029)

The Europe automotive plastics market is anticipated to experience growth driven by the rising demand for lightweight and electric vehicles, which is expected to positively influence the market size. However, challenges such as the decline in automotive production and the lingering effects of the COVID-19 pandemic may impede this growth. Despite these challenges, advancements in electric vehicle technology present potential opportunities for expanding the market's scope in the future.

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Market Size of Europe Automotive Plastics Industry

Europe Automotive Plastics Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

Europe Automotive Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Automotive Plastics Market Analysis

The automotive plastics market is expected to register a CAGR of around 6% during the forecast period. The increasing demand for lightweight and electric vehicles is expected to drive the demand for the market during the forecast period.

  • The decline in automotive production and the impact of COVID-19 pandemic are likely to hinder the growth of the market.
  • Technological development in electric vehicles is projected to act as an opportunity for the market in the future.

Europe Automotive Plastics Industry Segmentation

The Europe automotive plastics market report includes:

Material
Polycarbonate (PC)
Polymethyl Methacrylate (PMMA)
Polyethylene (PE)
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Polyamide
Other Materials
Application
Exterior
Interior
Under Bonnet
Other Applications
Vehicle Type
Conventional/Traditional Vehicles
Electric Vehicles
Geography
Germany
United Kingdom
Italy
France
Spain
Russia
Rest of Europe
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Europe Automotive Plastics Market Size Summary

The European automotive plastics market is poised for growth, driven by the increasing demand for lightweight and electric vehicles. Plastics play a crucial role in enhancing the efficiency and performance of electric and hybrid vehicles by serving as insulators and conductors in various applications, such as propulsion systems and batteries. The shift towards hybridization and the need for improved battery longevity and safety standards are further propelling the demand for automotive plastics. Despite challenges such as the decline in automotive production and the lingering effects of the COVID-19 pandemic, technological advancements in electric vehicles present significant opportunities for market expansion. Key innovations, such as the use of plastics in lithium-ion battery packs and turbocharger systems, are helping manufacturers meet consumer demands for longer driving ranges and improved vehicle performance.

Germany, as the largest automotive market in Europe, plays a pivotal role in the region's automotive plastics industry. The country is home to numerous assembly and engine production plants, contributing significantly to Europe's automobile production. However, the German automotive sector has faced challenges, including a decline in production due to high costs and the relocation of manufacturing bases to countries like China. The COVID-19 pandemic further exacerbated these issues, leading to temporary shutdowns of manufacturing plants. Despite these challenges, Germany remains a strong contributor to the growth of electric vehicles in Europe, with a notable increase in plug-in vehicle registrations. This growing demand for electric vehicles is expected to drive the production of automotive plastics, supporting market growth during the forecast period. The market is characterized by partial fragmentation, with key players such as DSM, BASF SE, Covestro AG, Celanese Corporation, and Borealis AB actively participating in the industry.

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Europe Automotive Plastics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Lightweight Materials from Electric and Hybrid Vehicles

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Slowdown in Automotive Production

      2. 1.2.2 Unfavourable Conditions Arising due to COVID-19 Outbreak

    3. 1.3 Value Chain-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Material

      1. 2.1.1 Polycarbonate (PC)

      2. 2.1.2 Polymethyl Methacrylate (PMMA)

      3. 2.1.3 Polyethylene (PE)

      4. 2.1.4 Polyvinyl Chloride (PVC)

      5. 2.1.5 Polypropylene (PP)

      6. 2.1.6 Polyamide

      7. 2.1.7 Other Materials

    2. 2.2 Application

      1. 2.2.1 Exterior

      2. 2.2.2 Interior

      3. 2.2.3 Under Bonnet

      4. 2.2.4 Other Applications

    3. 2.3 Vehicle Type

      1. 2.3.1 Conventional/Traditional Vehicles

      2. 2.3.2 Electric Vehicles

    4. 2.4 Geography

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 Italy

      4. 2.4.4 France

      5. 2.4.5 Spain

      6. 2.4.6 Russia

      7. 2.4.7 Rest of Europe

Europe Automotive Plastics Market Size FAQs

The Europe Automotive Plastics Market is projected to register a CAGR of less than 6% during the forecast period (2024-2029)

Borealis AG, BASF SE, Covestro AG, DSM N.V. and Celanese Corporation are the major companies operating in the Europe Automotive Plastics Market.

Europe Automotive Plastics Market Report Snapshots

Europe Automotive Plastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)