Market Overview

The Global Automotive Plastic Compounding Market is expected to reach a value of USD 3,372 million in 2023, and it is anticipated to exhibit a CAGR of 5.8% for the forecast period (2023-2032).

Automotive plastic compounding involves producing specialized plastic compounds by combining polymers with additives to augment material properties for usage in vehicles. It is a vital component enabling lightweighting and emission reductions.

Key Takeaways:

  • Increasing plastic content per vehicle and rising vehicle production driving market revenue growth
  • Polypropylene compounds command the largest revenue share currently

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Market Leading Segmentation

By Product

• Polyethylene (PE)
• Polypropylene (PP)
• Polycarbonate (PC)
• Polybutylene Terephthalate (PBT)
• Thermoplastic Elastomers (TPE)
• Acrylonitrile Butadiene Systems (ABS)
• Others

By Application

• Exterior Components
• Interior Components
• Under the hood Components
• Electrical Components & Lightening
• Others

Market Players

• Asahi Kasei Corporation
• LyondellBasell Industries Holdings B.V
• SABIC
• BASF SE
• Dow
• Ferro Corporation
• Washington Pen
• Ravago
• KRATON Corporation
• Covestro AG
• DuPont
• Other Key Players

Market Demand

  • Stringent regulations regarding vehicle emissions and fuel economy requirements driving demand for lightweight plastic materials
  • Growing electric vehicles market also spurring usage of engineering plastics to reduce weight
  • Demand for improved safety, noise vibration & harshness (NVH) properties, thermal and chemical resistance also rising

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Market Trends:

  • Innovative plastic compounds such as long fiber reinforced thermoplastics gaining traction
  • Focus on developing bio-based compounds from renewable raw materials
  • Automakers looking for lightweight metal replacements from plastic compounds

Market Opportunities:

  • High growth expected in APAC and South America attributed to increasing automotive production
  • Growing adoption of electric vehicles globally presents huge untapped potential
  • Development of innovative lightweight compounds for vehicle interiors and structural components
  • Partnerships between OEMs and plastic compounders to develop materials tailored to automakers' specifications.

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