India Automotive Plastics Market Growth, Statistics, Forecast Analysis and Industry 2024-2032

Written by Tushar Imarc » Updated on: October 28th, 2024

India Automotive Plastics Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 4.80% (2024-2032)

The Indian automotive plastics market is driven by lightweighting, safety upgrades, tech innovations, and regulatory demands, boosting growth and industry evolution. According to the latest report by IMARC Group, the market is projected to exhibit a growth rate (CAGR) of 4.80% during 2024-2032.

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India Automotive Plastics Market Trends and Drivers:

The rising need for lightweight substances to improve vehicle fuel efficiency and reduce emissions are the factors responsible for the growth of the India automotive plastics market. Additionally, as stricter regulations on vehicle emissions and fuel efficiency are implemented, manufacturers are highly turning to plastic components to replace heavier materials like metal.

Plastics, being durable and cost-effective, offer an ideal solution for producing lighter vehicles without compromising strength or safety. The rise in automotive production, driven by increasing consumer demand for personal vehicles and the expansion of the electric vehicle (EV) market, is further propelling the demand for automotive plastics in India. Moreover, initiatives by government authorities promoting electric mobility and sustainable practices are encouraging manufacturers to adopt eco-friendly and recyclable plastic materials.

Key trends in the India automotive plastics market include the growing focus on sustainable materials and the increasing use of advanced plastic composites. In addition to this, automakers are adopting high-performance plastics in various applications such as interiors, exteriors, and under-the-hood components to enhance vehicle durability and aesthetics. The development of bioplastics and recyclable materials is gaining attention as manufacturers look to reduce their environmental impact.

Another significant trend is the integration of plastics in electric vehicles, where the need for lightweight materials is critical to improving battery efficiency and range. The rise in investments in research and development (R&D) for innovative plastic solutions, along with the expanding automotive sector, is expected to drive the growth of the India automotive plastics market in the coming years.

India Automotive Plastics Industry Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest India automotive plastics market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

Breakup by Vehicle Type:

• Conventional and Traditional Vehicles

• Electric Vehicles

Breakup by Material:

• Polyethylene (PE)

• Polypropylene (PP)

• Polyvinyl Chloride (PVC)

• Acrylonitrile Butadiene Styrene (ABS)

• Polyurethane (PU)

• Polymethyl Methacrylate (PMMA)

• Polycarbonate (PC)

• Polyamide

• Others

Breakup by Application:

• Powertrain

• Electrical Components

• Interior Furnishings

• Exterior Furnishings

• Under the Hood

• Chassis

Breakup by Region:

• North India

• West and Central India

• South India

• East and Northeast India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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