Market Overview

The automotive engineering plastics market has been witnessing significant growth in recent years, owing to the increasing demand for lightweight and high-performance materials in the automotive industry. Engineering plastics, also known as performance plastics, offer superior mechanical, thermal, and chemical properties compared to traditional materials such as metals and glass. Automotive engineering plastics are widely used in various automotive applications, such as exterior and interior parts, powertrain systems, electrical and electronic components, and fuel systems. The growing demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions are expected to drive the growth of the automotive engineering plastics market in the coming years.

Meaning

Automotive engineering plastics are a class of high-performance materials that are used in the manufacturing of various automotive components. These materials offer superior mechanical, thermal, and chemical properties compared to traditional materials such as metals and glass. They are lightweight, durable, and can withstand high temperatures, making them ideal for use in automotive applications. Automotive engineering plastics are widely used in various automotive components such as exterior and interior parts, powertrain systems, electrical and electronic components, and fuel systems.

Executive Summary

The global automotive engineering plastics market is expected to grow at a significant rate in the coming years, driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The market is also driven by the growing demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions. The Asia-Pacific region is expected to dominate the market, owing to the presence of major automotive manufacturers in the region. The key players in the market are focused on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global automotive engineering plastics market is expected to grow at a CAGR of over 7% during the forecast period (2021-2026). The market is driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The Asia-Pacific region is expected to dominate the market, owing to the presence of major automotive manufacturers in the region. The exterior and interior parts segment is expected to hold the largest share of the market, owing to the increasing demand for lightweight materials for automotive applications. The key players in the market are focused on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry.

Market Drivers

1. Increasing demand for lightweight materials The automotive industry is increasingly focused on reducing the weight of vehicles to improve fuel efficiency and reduce carbon emissions. Automotive engineering plastics are lightweight and offer superior mechanical, thermal, and chemical properties compared to traditional materials such as metals and glass. The increasing demand for lightweight materials in the automotive industry is expected to drive the growth of the automotive engineering plastics market.
2. Growing demand for fuel-efficient vehicles The increasing demand for fuel-efficient vehicles is expected to drive the growth of the automotive engineering plastics market. Automotive engineering plastics are lightweight and can help reduce the weight of vehicles, which in turn, can improve fuel efficiency and reduce carbon emissions. The growing demand for fuel-efficient vehicles is expected to drive the demand for automotive engineering plastics in the coming years.
3. Increasing focus on reducing carbon emissions The automotive industry is increasingly focused on reducing carbon emissions to comply with government regulations and reduce their environmental impact. Automotive engineering plastics can help reduce the weight of vehicles, which in turn, can improve fuel efficiency and reduce carbon emissions. The increasing focus on reducing carbon emissions is expected to drive the growth of the automotive engineering plastics market.

Market Restraints

1. High cost of engineering plastics The high cost of engineering plastics compared to traditional materials such as metals and glass is a major restraint for the automotive engineering plastics market. The high cost of engineering plastics can limit their adoption in the automotive industry, especially in price-sensitive markets.
2. Limited recycling capabilities Engineering plastics are difficult to recycle

Market Opportunities

1. Growing demand for electric vehicles The growing demand for electric vehicles is expected to create significant opportunities for the automotive engineering plastics market. Electric vehicles require lightweight materials to improve their range and battery life. Automotive engineering plastics can help reduce the weight of electric vehicles, making them more efficient and cost-effective. The growing demand for electric vehicles is expected to drive the demand for automotive engineering plastics in the coming years.
2. Increasing adoption of 3D printing technology The increasing adoption of 3D printing technology is expected to create significant opportunities for the automotive engineering plastics market. 3D printing technology allows for the manufacturing of complex automotive components using engineering plastics. This technology can help reduce the time and cost of manufacturing automotive components, making it more efficient and cost-effective. The increasing adoption of 3D printing technology is expected to drive the demand for automotive engineering plastics in the coming years.

Market Dynamics

The global automotive engineering plastics market is highly competitive and fragmented, with the presence of several key players. The market is driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The key players in the market are focused on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry. The market is also driven by the growing demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions.

Regional Analysis

The Asia-Pacific region is expected to dominate the global automotive engineering plastics market, owing to the presence of major automotive manufacturers in the region. The increasing demand for lightweight and high-performance materials in the automotive industry in the region is expected to drive the growth of the market. North America and Europe are also expected to witness significant growth in the coming years, driven by the growing demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions.

Competitive Landscape

Leading Companies in the Automotive Engineering Plastics Market:

1. BASF SE
2. Dow Inc.
3. Covestro AG
4. SABIC
5. LyondellBasell Industries N.V.
6. Lanxess AG
7. DuPont de Nemours, Inc.
8. Solvay S.A.
9. Mitsui Chemicals, Inc.
10. DSM Engineering Plastics

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global automotive engineering plastics market is segmented based on type, application, and region.

By Type:

• Polyamide
• Acrylonitrile Butadiene Styrene (ABS)
• Polycarbonate (PC)
• Polybutylene Terephthalate (PBT)
• Polypropylene (PP)
• Others

By Application:

• Exterior and Interior Parts
• Powertrain Systems
• Electrical and Electronic Components
• Fuel Systems
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Category-wise Insights

Based on the type, the polyamide segment is expected to hold the largest share of the automotive engineering plastics market. Polyamide is widely used in various automotive applications, such as exterior and interior parts, powertrain systems, electrical and electronic components, and fuel systems, owing to its superior mechanical, thermal, and chemical properties. Based on the application, the exterior and interior parts segment is expected to hold the largest share of the market, owing to the increasing demand for lightweight materials for automotive applications.

Key Benefits for Industry Participants and Stakeholders

The key benefits for industry participants and stakeholders in the automotive engineering plastics market include:

• Increased demand for lightweight and high-performance materials in the automotive industry
• Growing demand for fuel-efficient vehicles
• Increasing focus on reducing carbon emissions
• Expansion of product portfolio
• Technological advancements

SWOT Analysis

Strengths:

• Superior mechanical, thermal, and chemical properties compared to traditional materials
• Lightweight and durable
• Wide range of applications in the automotive industry

Weaknesses:

• High cost compared to traditional materials
• Limited recycling capabilities

Opportunities:

• Growing demand for electric vehicles
• Increasing adoption of 3D printing technology

Threats:

• Fluctuating raw material prices
• Intense competition from traditional materials

Market Key Trends

1. Increasing demand for high-performance materials The increasing demand for high-performance materials in the automotive industry is expected to drive the growth of the automotive engineering plastics market. High-performance materials such as engineering plastics offer superior mechanical, thermal, and chemical properties compared to traditional materials such as metals and glass.
2. Expansion of product portfolio The key players in the market are focused on expanding their product portfolio to cater to the growing demand from the automotive industry. They are investing in research and development to develop new and innovative products that offer superior performance and durability.

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the global automotive industry, which has, in turn, affected the automotive engineering plastics market. The pandemic led to a slowdown in automotive production and disrupted supply chains, affecting the demand for automotive engineering plastics. However, the increasing demand for fuel-efficient vehicles and the focus on reducing carbon emissions are expected to drive the growth of the market in the post-pandemic period.

Key Industry Developments

1. In August 2020, SABIC launched its new line of engineering plastics, which offer improved mechanical and thermal properties for use in various automotive applications.
2. In February 2021, Covestro AG announced the expansion of its product portfolio with the launch of new high-heat polycarbonate resins for automotive applications.

Analyst Suggestions

The key players in the market are advised to focus on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry. They are also advised to invest in research and development to develop new and innovative products that offer superior performance and durability. The increasing demand for electric vehicles and the adoption of 3D printing technology are expected to create significant opportunities for the automotive engineering plastics market.

Future Outlook

The global automotive engineering plastics market is expected to grow at a significant rate in the coming years, driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The market is also driven by the growing demand for fuel-efficient vehicles and the increasing focus on reducing carbon emissions. The Asia-Pacific region is expected to dominate the market, owing to the presence of major automotive manufacturers in the region. The key players in the market are focused on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry.

Conclusion

The global automotive engineering plastics market is expected to witness significant growth in the coming years, driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The key players in the market are focused on product innovation and expanding their product portfolio to cater to the growing demand from the automotive industry. The Asia-Pacific region is expected to dominate the market, owing to the presence of major automotive manufacturers in the region. The growing demand for electric vehicles and the adoption of 3D printing technology are expected to create significant opportunities for the automotive engineering plastics market in the coming years.