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Automotive Additives Market worth 8.58 Billion USD by 2022


The report "Automotive Additives Market by Plastic Additives (Plasticizers, Anti-Scratch, Stabilizers, Antioxidants), Application (Exterior, Interior, Under the Hood), Plastic (PP, PUR, PVC, and ABS), Vehicle Type, EV Type, and Region - Global Forecast to 2022", The automotive additives market is projected to grow at a CAGR of 6.52% during the forecast period, from USD 6.25 billion in 2017 to USD 8.58 billion by 2022. In terms of volume, the market is estimated to reach 2,733.9 kilotons by 2022. Factors such as demand for lightweight vehicles and electrification of vehicles in emerging economies are driving vehicle sales, which in turn is spurring the growth of the automotive additives market.

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Browse 83 market data tables and 65 figures spread through 166 pages and in-depth TOC on "Automotive Additives Market by Plastic Additives (Plasticizers, Anti-Scratch, Stabilizers, Antioxidants), Application (Exterior, Interior, Under the Hood), Plastic (PP, PUR, PVC, and ABS), Vehicle Type, EV Type, and Region - Global Forecast to 2022"
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Interior application market is estimated to be the largest market in automotive additives market

The interior application market is estimated to have the largest market share owing to the increased use of plastic compared to other material. The demand for automotive additives in the interior application is increasing owing to the focus on aesthetics, safety, comfort, color, quality, and durability. Also, the increasing production of autonomous vehicles and its technology is driving the market for interiors. The use of plastics in a vehicle is increasing due to government emission regulations for vehicles and demand for lightweight material in vehicles by OEMs.

Automotive additives in polypropylene plastic is estimated to be the fastest growing segment

The market for polypropylene plastic is estimated to be the fastest growing market, owing to the increased use of polypropylene plastics in the automotive industry. Polypropylene accounts for the maximum share of plastics used in automobiles compared to other plastics. It is resistant to chemicals and solvents and hence is used in bumpers, gas cans, carpet fibers, interior, and exterior of the vehicle. The major driver for the growth of the polypropylene plastic is the large production of passenger cars and electric vehicles in countries such as China, U.S., and Japan.

Asia-Pacific: Fastest growing region for automotive additives market

Asia-Pacific is estimated to be the largest market, by value, for automotive additives in 2017, owing to the huge production of passenger cars and electric vehicles in the region. According to China Passenger Car Association, the demand for low segment cars is fading out. OEMs are shifting their production focus from the lower segment to higher segment vehicles. The demand for additives is also increasing due to increase in the use of electric vehicles and the trend to use lightweight material in vehicles to attain fuel efficiency. The Corporate Average Fuel Economy (CAFE) regulations to reduce emission and demand for lightweight material in the automotive industry are expected to drive the growth of the automotive additives market in the region.

The report covers all the major players in the automotive additives market that includes companies such as BASF SE (Germany), ExxonMobil Corporation (U.S.), Covestro AG (Germany), The Dow Chemical Company (U.S.), Sabic (Saudi Arabia), and Akzo Nobel N.V. (Netherlands) among others.

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