BRIC Automotive Plastics Market is estimated to be valued at US$ 23,642.09 Million in 2021, according to the BRIC Automotive Plastics Market Report, by Product Type (Polypropylene (PP), Polyurethane (PU), Poly carbonates (PC), Polyvinyl chloride (PVC), Acrylonitrile Butadiene Styrene (ABS), Others), by Application (Interior, Exterior, Under Bonnet), by Vehicle Type (Passenger Vehicles, Commercial Vehicles), by Distribution Channel (OEM, Aftermarket), and by Country (Brazil, Russia, India, China), published by Coherent Market Insights.
BRIC automotive plastics market was valued at US$ 23,642.09 Million in 2021 and is expected to register a CAGR of 8.5% over the forecast period (2022–2030). The Asia Pacific region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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https://www.coherentmarketinsights.com/market-insight/bric-automotive-plastics-market-3254
Browse 50 market data tables* and 40 figures* on "BRIC Automotive Plastics Market” - Forecast to 2030.
Key Trends and Analysis of the BRIC Automotive Plastics Market:
- Shifting consumer preferences for a new design and lightweight vehicle as advanced plastics is highly preferred by producers to produce attractive look and advanced aerodynamic shapes. Moreover, advanced plastics is easy to mold into desired shapes without increasing the weight of the vehicle. Hence, rising demand for new design vehicle with the lightweight vehicle is expected to fuel the market growth of BRIC automotive plastics
- The increasing introduction of mid-segment passenger cars in APAC is expected to boost the market growth of BRIC automotive plastics. For instance, in 2018, Du Pont, a chemical company, launched a new product called Crastin, a thermoplastic PBT resin having applications in electric and hybrid-electric vehicles. These resins are ideal for high-voltage connectors.
Key Takeaways of the BRIC Automotive Plastics Market:
- Among Application, interior applications dominated the BRIC Automotive Plastics Market in 2021. Interior segment was followed by exterior and under bonnet in terms of revenue share, respectively.
- Among Countries, China dominated the BRIC automotive plastics market in 2021, reporting 61.8% market share in terms of revenue, followed by Brazil and India, respectively.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the BRIC automotive plastics market.
