Automotive Interior Plastic Components Market 2022 | Present Scenario and Growth Prospects 2027

The use of new and upgraded automotive components, such as a navigation panel and rear vehicle infotainment system, is increasing significantly in the premium and mid-range passenger car segments. These components are generally made up of advanced plastic materials, and the aftermarket for such augmented products is increasing in Brazil with the increasing number of vehicles in operation (personal car and in-transit/cab-services). For instance, BMW’s i3, is an innovative electric car which is built with a lightweight carbon fiber and advanced plastic material.

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Automotive Interior Plastic Components Market: Dynamics

By using plastic components, the overall kerb weight of a vehicle can be reduced as these components are lighter in weight as compared to aluminum and steel. The reduced weight of a vehicle improves its fuel efficiency which further helps to reduce the CO2 emission. For instance, approximately 10% weight reduction in a vehicle results in 3–4% fuel savings. Furthermore, increasing vehicle production, high demand for lightweight automotive component by OEMs are providing better traction in the global automotive interior plastic component market in the globe. Moreover, Government regulations to control vehicular emission and shifting consumer preferences are some of the factors which are encouraging OEMs to continue increasing uses of advance plastic material. ”INOVAR AUTO” programs by the Federal Government of Brazil is benefiting the automotive industry in Brazil, which is anticipated to benefit raw material industry such as automotive plastics. Moreover, advance plastic material is highly preferred by OEMs due to its ease of operation, excellent mouldability, extended warranties as compared to other materials such as steel and aluminum.

High cost of advance plastic material comparable to aluminum may hinder the global automotive interior plastic component market during the forecast period. There is competition from other materials like high strength steel and aluminum. Steel has the edge when it comes to recycling as plastics are relatively difficult to recycle.

Frequent new product launches by OEMs and increasing penetration of advanced technology systems like navigation panel, in-vehicle infotainment systems and on-board diagnosis system which in turn fuelling growth of the global automotive interior plastic component market. Consumer preference is shifting more towards the new designs, e.g. hatchback car with spoilers. Many manufacturers such as Toyota, General Motors, Volkswagen AG and Daimler Chrysler have set up their R&D center in Brazil with the growing interest of expanding technological capabilities. New raw material plastic products are entering into the market which are green, sustainable, and easy to install and have a long life.  Example: advanced plastics like bio-based plastic and recycled plastic. These materials are comparatively less aesthetic and are mostly used in the interiors of vehicles.

As of 2013, Polypropylene dominates the market by capturing 36.6% of the total Brazil automotive plastics market, followed by Polyurethane, Poly carbonates and Acrylonitrile butadiene styrene respectively

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Automotive Interior Plastic Components Market: Key Participants

The key Participants of automotive interior plastic component market are following:

• Braskem SA
• Bayer Group
• BASF SE
• Saudi Basic Industries Corporation (SABIC)
• Smiths Plastics (PTY) LTD
• PLASTIKON INDUSTRIES, INC.
• National Plastics Group
• Grupo Antolin
• MVC Holdings, LLC
• Barkley Plastics Ltd
• Plastic Molding Technology, Inc.
• Productive Plastics, Inc.
• Tata Sons Ltd
• Nifco Inc.
• DIPTY LAL JUDGE MAL PVT. LTD
• Covestro AG

The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends and Issues and Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest Of Latin America)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
• Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)