Automotive plastics is a key component of the vehicle and is becoming popular due to the desire for lightweight and low carbon emission vehicle. Automotive plastics is gaining huge demand due to improvement in polymer technology that is capable of delivering high performance and can be used across a range of automotive application such as interior and exterior components and under the bonnet components.
As of 2021, BRIC Automotive Plastics Market was valued at U.S.$ 23,642.09 Million in terms of revenue, exhibiting a CAGR of 8.5% during the years (2022-2030)
Key Competitors in the BRIC Automotive Plastics Industry:
1) LyondellBasell Industries N.V.
Lyondell Basell Industries N.V. is a multinational chemical company that is the largest licensor of polyethylene and polypropylene technologies. The company also produces ethylene, propylene, polyolefin, and oxyfeuls. The company was founded in the year 2007, and the headquarters are located in Houston, Texas, United States and London, UK. It was formed by the acquisition of Lyondell Chemical Company by Basell Polyolefin.
As of March 13, 2023, LyondellBasell and Mepol Group announced they have entered into a definitive agreement of acquiring Mepol Group, a manufacturer of recycled, high-performing technical compounds situated in Italy and Poland.
2) SIBUR
SIBUR is a Russian petrochemicals company and the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals industry. SIBUR purchases hydrocarbons and processes them into plastics, rubber and other high value added products. SIBUR sells its products in two business segments: Olefins & Polyolefin. The company was founded in the year 1995, and the headquarters are located in Moscow, Russia.
In April 2021, SIBUR bought a controlling stake in oil and gas refiner company TAIF with a view to consolidate the assets.
3) China XD Plastics Group
China XD Plastics Group is a specialty chemical company that researches, develops and manufactures molded plastics. Products manufactured include modified polypropylene, modified acrylonitrile butadiene styrene, modified polyamide 66, and other products. The company was founded in the year 1985, and the headquarters are located in Heilongjiang, and New York.
4) DOW Chemicals.
DOW Chemical Company is a multinational corporation known for its products like Chemicals, Plastics, Performance chemicals and Hydrocarbon exploration. The company in one of the three largest chemical producers in the world. DOW was founded in the year 1897 and the headquarters are located in Midland, Michigan, U.S. The company was founded by Herbert Henry DOW.
In February 2023, DOW had been named as a Top 100 Global Innovators for the 12th consecutive year by Clarivate. In March 2023 the company introduced a New FINGERPRINT grade for the Microirrigation Market
5) Saudi Basic Industries Corporation
SABIC is a chemical manufacturing company. It is the second largest public company in Saudi Arabia according to Tadawul. Products manufactured include Chemicals and intermediates, industrial polymers, and metals. The company was founded in the year 1976, and the headquarters are located in Riyadh, Saudi Arabia.
In February 2023, SABIC announced its plans of launching LNP CRX polycarbonate (PC) copolymer resins that can help in improving, Medical device durability & sustainability.
