The Europe Automotive Plastics Market would witness market growth of 4.4% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,853.1 Kilo Tonnes, showcasing a growth of 2.7% (2019-2022).
High-strength and lightweight carbon fiber reinforced plastics (CFRP) are used in premium and high-performance vehicles for components like body panels, chassis components, and interior elements. Glass fiber reinforced plastics (GFRP) are used for their strength and rigidity in components like body panels, providing a balance between weight reduction and structural integrity. Plastics are used in insulating and housing electrical wiring and connectors, providing electrical insulation and protection. Headlamps, taillight housings, and other lighting components often utilize plastics for their transparency, impact resistance, and design flexibility.
The ongoing pursuit of enhanced fuel efficiency and diminished emissions is propelling the automotive industry toward a consistent trend of lightweight. It plays a pivotal role in this trend by offering lightweight alternatives to traditional materials like steel and aluminum. Using plastics in structural components, body panels, and interior elements contributes to weight reduction, enhancing fuel efficiency and performance. There is a growing emphasis on sustainability and eco-friendly practices across industries, including automotive manufacturing. They derived from recycled materials or bio-based sources are gaining popularity. Manufacturers are exploring innovative ways to incorporate sustainable plastics into their production processes, aligning with consumer and regulatory expectations for environmentally responsible practices.
Urbanization has spurred the adoption of electric and hybrid vehicles in Germany. Germany's commitment to sustainable transportation is reflected in the development of charging infrastructure for electric vehicles. Plastics are used for thermal insulation in various vehicle parts, such as heat shields, engine covers, and firewall insulators in France. These components help manage heat distribution and protect sensitive areas from high temperatures in France. Plastics are used to manufacture radiator grilles and air intakes, providing both aesthetic design and functional airflow for effective cooling in France. Plastics offer design flexibility and resistance to environmental elements in France. Hence, all these factors will uplift the regional market’s expansion in the coming years.
The Germany market dominated the Europe Automotive Plastics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,273.2 million by 2030. The UK market is exhibiting a CAGR of 3.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.1% during (2023 - 2030).
Free Valuable Insights: The Global Automotive Plastics Market will Hit $39.9 Billion by 2030, at a CAGR of 5.1%
Based on Process, the market is segmented into Injection Molding, Blow Molding, Thermoforming, and Others. Based on Application, the market is segmented into Interior Furnishings, Powertrain, Electrical Components, Exterior Furnishings, Chassis, and Under the Hood. Based on Product, the market is segmented into Polypropylene (PP), Polyurethane (PU), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene (PE), Polymethyl Methacrylate (PMMA), Polycarbonate (PC), Polyamide (PA), and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Process (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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