Global Market Size of Automotive Plastics Market – 10 Year Market Forecast

Advanced Materials

Automotive Plastics Market Size Forecast 2022-2029

Automotive Plastics is estimated to have a market value of USD 43.14 Billion in the year 2022 and is expected to reach to USD 102.22 Billion by the year 2029, giving a CAGR of 13%. Adoption of lightweight materials due to strict emission and fuel economy regulations could drive this market towards growth. However, COVID-19 is slowing down sales of passenger cars which could hamper this growth.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global Market Database is a cloud based market research and intelligence tool that provides up to date market information about 600+ markets.
• What is a major driver for the growth of this market?

• Adoption of lightweight materials due to strict emission and fuel economy regulations is a major driver for the growth of this market.
• What is a restraint in the growth of this market?

• COVID-19 is slowing down sales of passenger cars which is a restraint in the growth of this market.
• What is an opportunity for the growth of this market?

• Growing trend of vehicle electrification is an opportunity for the growth of this market.
• What is a challenge for the growth of this market?

• High cost of capital and infrastructure for re-engineering of plastics is a challenge for the growth of this market.

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