Understanding the Competitive Landscape: Market Leaders in Automotive Plastics for Passenger Cars
The automotive plastics market for passenger cars was estimated at USD 24.73 billion in 2023 and is likely to grow at a CAGR of 7.75% during 2024-2030 to reach USD 41.82 billion in 2030.
Automotive plastics are a group of materials used in the automobile industry that possess abrasion resistance, rigidity, mechanical strength, heat resistance, etc. Passenger cars are widely used because of their strength-to-weight ratio. They also provide adequate strength at very low weight, which ultimately helps to gain better fuel efficiency.