Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region - Global Forecast to 2023

The automotive plastics market for passenger cars was valued at USD 24.63 billion in 2017 and is projected to reach 47.33 billion by 2023, at a CAGR of 10.9% during the forecast period. The base year considered for the study is 2017 while the forecast period is from 2018 to 2023.

Objectives of the report are as follows:

• To define, describe, and forecast the market size of automotive plastics for passenger cars, in terms of value and volume
• To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
• To estimate and forecast the market size by product type, application, and region
• To forecast the size of the market with respect to 5 main regions (along with key countries of each region), namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
• To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
• To track and analyze recent developments, such as expansions and acquisitions, in the market
• To strategically profile the key market players and comprehensively analyze their core competencies

Both, top-down and bottom-up approaches have been implemented to estimate and project the size of the automotive plastics market for passenger cars during the forecast period. The size of the automotive plastics market for passenger cars has been calculated, and weightages have been assigned to various market segments. This has been performed based on extensive primary interviews and secondary research of the information available on websites of various associations, such as the Society of the Plastics Industry, Plastics Industry Association, All India Plastics Industries Association (AIPIA), Association of Plastics Manufacturers (Europe), and International Organization of Motor Vehicle Manufacturers (OICA). Primary research includes extensive interviews with key personnel such as chief executive officers, vice presidents, directors, and executives of the leading players operating in the automotive plastics markets. After arriving at the overall market size, the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary respondents has been depicted in the figure below.

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the automotive plastics market for passenger cars comprises automotive OEMs, automotive producers & suppliers, and manufacturers of automotive plastics, such as Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), Compagnie Plastic Omnium (France), Borealis AG (Austria), Covestro AG (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), and Grupo Antolin-Irausa S.A. (Spain).

Target Audience:

• Automotive Plastics Manufacturers
• Chemical Suppliers
• Raw Material Suppliers
• OEMs
• Polymer Manufacturers
• Passenger Car Manufacturers
• Government and Research Organizations
• Plastic Traders, Distributors, and Suppliers
• Industry Associations
• Research and Consulting Firms

 “The study answers several questions for stakeholders, primarily, which market segments they need to focus upon during the next 2 to 5 years to prioritize their efforts and investments.”

Scope of the Report

The research report categorizes the automotive plastics market for passenger cars into the following segments:

Automotive Plastics Market for Passenger Cars, by Product Type

• Polypropylene
• Polyurethanes
• Polyvinyl Chloride
• ABS
• Polyamide
• HDPE
• Polycarbonate
• PBT
• Others (PMMA, PET, and ASA)

Automotive Plastics Market for Passenger Cars, by Application

• Interior
• Exterior
• Under Bonnet

Automotive Plastics Market for Passenger Cars, by Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

• Further breakdown of the Rest of Asia Pacific, Rest of Europe, Rest of South America, and Rest of the Middle East & Africa automotive plastics market for passenger cars
• Detailed analysis and profiles of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Years Considered for the Study
    1.3 Currency
    1.4 Unit Considered
    1.5 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 29)
    4.1 Significant Opportunities in Automotive Plastics Market for Passenger Cars
    4.2 APAC Automotive Plastics Market for Passenger Cars, By Product Type and Country
    4.3 Automotive Plastics Market for Passenger Cars, By Application
    4.4 Automotive Plastics Market for Passenger Cars Attractiveness

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increased Demand for Materials Offering Significant Emission Reduction
                    5.2.1.2 Introduction of New Safety Features and Luxury Components
           5.2.2 Opportunities
                    5.2.2.1 Use of Composites and Pmma in Vehicle Car Production
           5.2.3 Challenges
                    5.2.3.1 High Capital Cost and Cost of Plastic Materials
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of Substitutes
           5.3.2 Threat of New Entrants
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 GDP Growth Rate and Forecast of Major Economies
           5.4.2 Trends and Forecast of Plastics Industry and Its Impact on Automotive Plastics Market for Passenger Cars
           5.4.3 Trends and Forecast of Automotive Industry and Its Impact on Automotive Plastics Market for Passenger Cars

6 Automotive Plastics Market for Passenger Cars, By Product Type (Page No. - 40)
    6.1 Introduction
    6.2 Polypropylene
    6.3 Polyurethane
    6.4 Polyvinyl Chloride
    6.5 Acrylonitrile-Butadiene-Styrene (ABS)
    6.6 Polyamide
    6.7 High-Density Polyethylene (HDPE)
    6.8 Polycarbonate
    6.9 Polybutylene Terephthalate (PBT)
    6.10 Others

7 Automotive Plastics Market for Passenger Cars, By Application (Page No. - 52)
    7.1 Introduction
    7.2 Interior
    7.3 Exterior
    7.4 Under Bonnet

8 Automotive Plastics Market for Passenger Cars, By Region (Page No. - 57)
    8.1 Introduction
    8.2 APAC
           8.2.1 China
           8.2.2 Japan
           8.2.3 India
           8.2.4 South Korea
           8.2.5 Thailand
           8.2.6 Indonesia
    8.3 North America
           8.3.1 Us
           8.3.2 Canada
           8.3.3 Mexico
    8.4 Europe
           8.4.1 Germany
           8.4.2 Spain
           8.4.3 France
           8.4.4 Uk
           8.4.5 Russia
    8.5 Middle East & Africa
           8.5.1 Turkey
           8.5.2 Iran
    8.6 South America
           8.6.1 Brazil
           8.6.2 Argentina

9 Competitive Landscape (Page No. - 96)
    9.1 Overview
    9.2 Market Ranking
    9.3 Competitive Scenario
           9.3.1 Expansions
           9.3.2 Joint Ventures
           9.3.3 Acquisitions
           9.3.4 New Product Launches
           9.3.5 Agreements & Collaborations

10 Company Profiles (Page No. - 103)
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View
     10.1 Magna International Inc.
     10.2 Lear Corporation
     10.3 Adient PLC
     10.4 BASF SE
     10.5 Compagnie Plastic Omnium
     10.6 Borealis AG
     10.7 Covestro AG
     10.8 Evonik Industries AG
     10.9 Saudi Basic Industries Corporation SJSC (SABIC)
     10.10 Grupo Antolin-Irausa S.A.
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)
     10.11 Other Key Market Players
             10.11.1 Toyota Boshoku Corporation
             10.11.2 Faurecia Sa
             10.11.3 Toyoda Gosei Co., Ltd.
             10.11.4 Sage Automotive Interiors, Inc.
             10.11.5 Benecke-Kaliko AG
             10.11.6 Royal Dsm Nv
             10.11.7 The DOW Chemical Company
             10.11.8 Momentive Performance Materials
             10.11.9 Teijin Limited
             10.11.10 Solvay Sa

11 Appendix (Page No. - 129)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details

List of Tables (103 Tables)

Table 1 Trends and Forecast of GDP, 2018–2023 (USD Billion)
Table 2 Plastic Industry Demand, By Country (Kiloton)
Table 3 Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 4 Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 5 Polypropylene Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 6 Polypropylene Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 7 Polyurethane Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 8 Polyurethane Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 9 Polyvinyl Chloride Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 10 Polyvinyl Chloride Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 11 ABS Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 12 ABS Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 13 Polyamide Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 14 Polyamide Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 15 HDPE Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 16 HDPE Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 17 Polycarbonate Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 18 Polycarbonate Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 19 PBT Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 20 PBT Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 21 Others Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 22 Others Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 23 Automotive Plastics Market for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 24 By Market for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 25 By Market Size for Passenger Cars in Interior Application, By Region, 2016–2023 (USD Million)
Table 26 By Market Size for Passenger Cars in Interior Application, By Region, 2016–2023 (Kiloton)
Table 27 By Market Size for Passenger Cars in Exterior Application, By Region, 2016–2023 (USD Million)
Table 28 By Market Size for Passenger Cars in Exterior Application, By Region, 2016–2023 (Kiloton)
Table 29 By Market Size for Passenger Cars in Under Bonnet Application, By Region, 2016–2023 (USD Million)
Table 30 By Market Size for Passenger Cars in Under Bonnet Application, By Region, 2016–2023 (Kiloton)
Table 31 By Market Size for Passenger Cars, By Region, 2016–2023 (USD Million)
Table 32 By Market Size for Passenger Cars, By Region, 2016–2023 (Kiloton)
Table 33 APAC: Automotive Plastics Market Size for Passenger Cars, By Country, 2016–2023 (USD Million)
Table 34 APAC: By Market Size for Passenger Cars, By Country, 2016–2023 (Kiloton)
Table 35 APAC: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 36 APAC: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 37 APAC: By Market Size for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 38 APAC: By Market Size for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 39 China: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 40 China: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 41 Japan: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 42 Japan: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 43 India: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 44 India: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 45 South Korea: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 46 South Korea: Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 47 Thailand: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 48 Thailand: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 49 Indonesia: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 50 Indonesia: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 51 North America: By Market Size for Passenger Cars, By Country, 2016–2023 (USD Million)
Table 52 North America: By Market Size for Passenger Cars, By Country, 2016–2023 (Kiloton)
Table 53 North America: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 54 North America: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 55 North America: By Market Size for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 56 North America: Automotive Plastics Market Size for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 57 US: Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 58 US: Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 59 Canada: Automotive Plastics Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 60 Canada: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 61 Mexico: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 62 Mexico: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 63 Europe: By Market Size for Passenger Cars, By Country, 2016–2023 (USD Million)
Table 64 Europe: By Market Size for Passenger Cars, By Country, 2016–2023 (Kiloton)
Table 65 Europe: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 66 Europe: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 67 Europe: By Market Size for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 68 Europe: By Market Size for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 69 Germany: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 70 Germany: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 71 Spain: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 72 Spain: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 73 France: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 74 France: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 75 UK: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 76 UK: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 77 Russia: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 78 Russia: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 79 Middle East & Africa: By Market Size for Passenger Cars, By Country, 2016–2023 (USD Million)
Table 80 Middle East & Africa: By Market Size for Passenger Cars, By Country, 2016–2023 (Kiloton)
Table 81 Middle East & Africa: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 82 Middle East & Africa: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 83 Middle East & Africa: By Market Size for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 84 Middle East & Africa: By Market Size for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 85 Turkey: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 86 Turkey: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 87 Iran: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 88 Iran: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 89 South America: By Market Size for Passenger Cars, By Country, 2016–2023 (USD Million)
Table 90 South America: By Market Size for Passenger Cars, By Country, 2016–2023 (Kiloton)
Table 91 South America: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 92 South America: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 93 South America: By Market Size for Passenger Cars, By Application, 2016–2023 (USD Million)
Table 94 South America: By Market Size for Passenger Cars, By Application, 2016–2023 (Kiloton)
Table 95 Brazil: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 96 Brazil: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 97 Argentina: By Market Size for Passenger Cars, By Product Type, 2016–2023 (USD Million)
Table 98 Argentina: By Market Size for Passenger Cars, By Product Type, 2016–2023 (Kiloton)
Table 99 Expansions, 2014–2018
Table 100 Joint Ventures, 2014–2018
Table 101 Acquisitions, 2014–2018
Table 102 New Product Launches, 2014–2018
Table 103 Agreements & Collaborations, 2014–2018

List of Figures (38 Figures)

Figure 1 Automotive Plastics Market Segmentation for Passenger Cars
Figure 2 Automotive Plastics Market for Passenger Cars: Research Design
Figure 3 Automotive Plastics Market for Passenger Cars: Data Triangulation
Figure 4 Polyurethane Segment to Lead the Market
Figure 5 Interior to Be the Largest Application
Figure 6 Thailand to Be the Fastest-Growing Automotive Plastics Market for Passenger Cars
Figure 7 APAC Dominated the Automotive Plastics Market for Passenger Cars in 2017
Figure 8 Advancements in Automotive Industry to Drive the Market
Figure 9 China Led the APAC Automotive Plastics Market for Passenger Cars in 2017
Figure 10 Interior Application to Account for the Largest Market Share
Figure 11 Thailand to Be the Fastest-Growing Automotive Plastics Market for Passenger Cars
Figure 12 Overview of Factors Governing the Automotive Plastics Market for Passenger Cars
Figure 13 Automotive Plastics Market for Passenger Cars: Porter’s Five Forces Analysis
Figure 14 Global Motor Vehicle Sales in 2017
Figure 15 Automotive (Passenger Car) Sales Outlook in 2017
Figure 16 Polyamide Segment to Register the Highest CAGR in the Automotive Plastics Market for Passenger Cars
Figure 17 Under Bonnet Segment to Register the Highest CAGR
Figure 18 APAC to Be the Fastest-Growing Automotive Plastics Market for Passenger Cars
Figure 19 APAC: Automotive Plastics Market for Passenger Cars Snapshot
Figure 20 North America: Automotive Plastics Market for Passenger Cars Snapshot
Figure 21 Europe: Automotive Plastics Market for Passenger Cars Snapshot
Figure 22 Companies Adopted Expansions as the Key Growth Strategy Between 2014 and 2018
Figure 23 Ranking of Key Automotive Plastics Manufacturers for Passenger Cars, 2017
Figure 24 Magna International Inc.: Company Snapshot
Figure 25 Magna International Inc.: SWOT Analysis
Figure 26 Lear Corporation: Company Snapshot
Figure 27 Lear Corporation: SWOT Analysis
Figure 28 Adient PLC: Company Snapshot
Figure 29 Adient PLC: SWOT Analysis
Figure 30 BASF SE: Company Snapshot
Figure 31 BASF SE: SWOT Analysis
Figure 32 Compagnie Plastic Omnium: Company Snapshot
Figure 33 Compagnie Plastic Omnium: SWOT Analysis
Figure 34 Borealis AG: Company Snapshot
Figure 35 Covestro AG: Company Snapshot
Figure 36 Evonik Industries AG: Company Snapshot
Figure 37 SABIC: Company Snapshot
Figure 38 Grupo Antolin-Irausa S.A.: Company Snapshot

The automotive plastics market for passenger cars is projected to grow from USD 28.20 billion in 2018 to USD 47.33 billion by 2023, at a CAGR of 10.9% during the forecast period. Automotive plastics are widely preferred for their ability to make automobiles less bulky. They offer enhanced properties, such as impact strength, easy mold-ability, improved aesthetics, and reduced weight, as compared to conventional automotive components. There is also an increasing demand for automotive plastics from emerging economies, such as India and Thailand, which is expected to fuel the growth of the automotive plastics market for passenger cars across the globe.

The automotive plastics market for passenger cars has been segmented on the basis of product type, application, and region. Among types, the polypropylene segment is expected to lead the market during the forecast period, in terms of value. The growth of this segment can be attributed to the low cost of polypropylene and its outstanding mechanical performance and moldability. The polyamide segment, on the other hand, is projected to register the highest CAGR between 2018 and 2023 owing to the increased usage of polyamide in passenger cars, such as in engine covers, airbag containers, and various electronic components.

Based on application, the automotive plastics market for passenger cars has been segmented into interior, exterior, and under bonnet. The interior segment accounted for the largest market share, followed by the exterior segment, in 2017. The use of plastics in the interior application is much higher than in other applications. Plastics are used in various interior components, such as instrument panels, door panels, and pillars, to achieve good surface finish as well as for aesthetic appeal and scratch resistance. The under bonnet application segment is, however, projected to grow at the highest CAGR during the forecast period, in terms of value.

The automotive plastics market for passenger cars has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is estimated to be the largest market for automotive plastics in 2018, and the region is also expected to continue leading the market till 2023 owing to emerging industries in the region’s developing economies, such China, India, and Thailand. Rising per capita disposable income, preferences for a nuclear family, and growing trend towards the use of small cars fuel the demand for passenger cars in the region, which subsequently impact the automotive plastics market.

Significant investments in R&D activities to develop new plastic components and highly fragmented market with the presence of a large number of market players make the intensity of competition in the market very high. Fluctuating prices of raw materials adversely impact the overall cost of production incurred by the manufacturers of automotive plastics. High capital costs incurred in the deployment of automotive plastics in existing metallic applications restrict the adoption of automotive plastics in new vehicle designs.

Expansion has been the major developmental strategy adopted between 2014 and 2018 by the key players operating in the automotive plastics market for passenger cars. Companies such as Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), and Compagnie Plastic Omnium (France) have adopted these strategies to strengthen their market presence and customer base as well as gain a competitive edge in the market. These companies also focus on investing in R&D activities to introduce new and cost-effective materials to meet the changing consumer needs.

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