Summary

The necessity to minimize weight and enhance the performance of automobiles has always led to the progressive substitution of metal parts with plastic ones. The market for automotive plastics in India is expected to grow from $2.12 billion in 2024 to $4.21 billion by 2031, reflecting a robust compound annual growth rate (CAGR) of 10.30%.

Although plastic is porous compared to conventional metals such as steel, it has an excellent strength-to-weight ratio. Initially, interior finishings were the principal usage of vehicle plastics. However, they are now also being utilized for external automotive components such as doors, fenders, bonnets, and even bumpers that were once designated for sheet metal and steel.

Market Outlook for Automotive Plastics in India: Historical vs. Forecast

Automotive plastic sales in India witnessed notable growth in recent years. However, the automotive and plastic industries experienced a decline due to global pandemic restrictions, leading to decreased vehicle sales. The demand for automotive plastic components is anticipated to surge significantly with the consistent growth in automotive sales. Increased investments in research and development within the Indian automotive market are expected to further accelerate the replacement of metal parts with plastic ones, driving remarkable growth in the demand for automotive plastic parts.

Rising Demand for Automotive Plastics in India

Demand for Electric & Hybrid Vehicles

Electric and hybrid vehicles are one of the main drivers of the automotive market's growth. Advanced plastics and vehicle polymers are expected to be integral to the future of mobility, as the automotive industry transitions to smart vehicles with enhanced safety and performance. Automotive plastics reduce vehicle weight and add value by replacing conventional batteries and parts with lightweight materials. The hybridization trend, which combines gas and electric propulsion systems, emphasizes vehicle lightness, space efficiency, and extended battery operation, elevating the demand for plastics and plastic composites.

Reduction in Vehicle Weight for Improved Mileage

The market is also expected to grow due to the increasing need for advanced safety measures such as airbags, lane departure warning systems, and other ADAS systems. Plastics contribute to making vehicles lightweight while preserving safety features, being shock-, heat-, and pressure-resistant, and helping save lives during collisions. Tear-resistant plastic layers protect vehicles from damage, while transparent polycarbonate films resist UV light and reduce vehicle weight. The use of nylons, elastomers, and polyamides in air ducts, suction pipes, and engine front covers further reduces vehicle weight, leading to increased fuel efficiency, a significant factor in the automobile sector.

Steps Toward a Carbon-free Future

Prominent vehicle plastic producers are moving towards a carbon-free future by using recycled content or plant-based biomass to create new products, reducing environmental impact. These recycled products are durable and retain the properties of new components, such as resistance to chemicals, pressure, and heat. Companies are taking initiatives to develop and launch products manufactured using recycled materials, aiming to reduce their carbon footprint. These efforts include expansions, mergers, and new product launches, allowing manufacturers to reach new heights and innovate alternative solutions to conventional materials, strengthening their market presence and expanding their product portfolios.

Challenges Facing Automotive Plastic Producers in India

Volatility in Raw Material Prices and Environmental Impact

Fluctuating crude oil prices and geopolitical tensions can affect the supply and prices of raw materials, impacting the cost structure of final products. The manufacturing process of automotive plastics emits gases harmful to the environment and produces by-products that can negatively impact water bodies and landfills. Extensive plastic use is harmful as it takes decades to decompose, and recycling involves complex processes.

Regional Insights

Dominance of North India

North India is the leading region in India's automotive plastics market, consuming almost 39% of the automotive plastics produced in the country. This is due to the presence of prominent manufacturers and strong distribution networks. Major automotive companies have their production plants in North India, leading to high vehicle production in the region.

Category-wise Insights

Leading Product Type: Polypropylene

Polypropylene is expected to dominate the sales of automotive plastics in India, contributing more than 17% of the market valuation. It is used in gas cans, chemical tanks, wire insulation, bumpers, door panels, consoles, seatbacks, trunk liners, and other automotive applications. Its significant demand in the automotive industry results in a prominent market share for polypropylene plastics.

High Usage in Vehicle Interiors

The interior application of automotive plastics dominates the market, accounting for over 50% of the overall market share. In India, car interiors, including heating, ventilation, air conditioning, steering wheels, dashboards, seats, door panels, and other parts, are crucial due to the emphasis on cabin experience by customers. Car interiors play a central role in the new automotive world.

Competitive Analysis

Prominent automotive plastic manufacturers are significantly investing in expansion strategies. Key players are establishing new manufacturing units and boosting production capacity to increase market share and meet the rising demand for automotive plastics. Enterprises connected to the value chain are enhancing their R&D capacities to develop new production technologies.

For instance:

• BASF, Mercedes-Benz, Pyrum Innovations AG, and WITTE Automotive collaborated to produce automotive components from mass-balanced plastics.

• Solvay launched Amodel® Supreme PPA, high-performance polyphthalamide compounds ideal for e-mobility and metal replacement applications.

Key Companies Profiled

• BASF SE

• Sumitomo Chemical Co., Ltd.

• Saudi Basic Industries Corp

• DuPont de Nemours, Inc.

• Prima Pvt. Ltd

• Solvay SA

• The Dow Chemical Company

• LG Chem Ltd

• Champion Plastics Pvt. Ltd

• PVG Automotive Pvt. Ltd

• G.V. INDUSTRIES

• I-TECH PLAST INDIA PRIVATE LIMITED

• Injecto Plast Pvt. Ltd.

• Omico Plastics, Inc.

• Prime Plast

India Automotive Plastics Industry Segmentation

Product Type

• Polypropylene

• Polyurethane

• Acrylonitrile Butadiene Styrene

• Polyvinyl Chloride

• Polyethylene

• Polystyrene

• Polycarbonate

• Polyamide

• PMMA

• Plastic Composites

• Others

Vehicle Type

• Three Wheelers

• Passenger Cars (Compact, Midsize, Luxury, SUVs)

• LCVs

• HCVs

• Electric Cars (BEVs, HEVs, PHEVs)

Application

• Exteriors (Bumpers, Tailgates/Liftgates, Hoods, Body Hardware, Others)

• Interiors (Seats, Dashboards, HVAC, Others)

• Engine Surrounding (Engine Covers/Valves, Covers, Fuel Hoses/Lines)

Region

• North India

• South India

• East India

• West India

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Table of Contents

1. Executive Summary
1.1. India Automotive Plastics Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact Of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. Pestle Analysis
3. Price Analysis, 2019-2023
3.1. Average Price Analysis, by Book Type, US$ Per Tons, 2019-2023
3.2. Prominent Factor Affecting Embedded Microprocessor Prices
3.3. Average Price Analysis, by Region, US$ Per Tons, 2019-2023
4. India Automotive Plastics Market Outlook, 2019-2031
4.1. India Automotive Plastics Market Outlook, by Product Type, Value (US$ Bn) and Volume (Kilo Tons), 2019-2031
4.1.1. Key Highlights
4.1.1.1. Polypropylene
4.1.1.2. Polyurethane
4.1.1.3. Acrylonitrile Butadiene Styrene
4.1.1.4. Polyvinyl Chloride
4.1.1.5. Polyethylene
4.1.1.6. Polystyrene
4.1.1.7. Polycarbonate
4.1.1.8. Polyamide
4.1.1.9. PMMA
4.1.1.10. Plastic Composites
4.1.1.11. Others
4.2. India Automotive Plastics Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Kilo Tons), 2019-2031
4.2.1. Key Highlights
4.2.1.1. Three Wheelers
4.2.1.2. Passenger Cars
4.2.1.2.1. Compact
4.2.1.2.2. Midsize
4.2.1.2.3. Luxury
4.2.1.2.4. SUVs
4.2.1.3. LCVs
4.2.1.4. HCVs
4.2.1.5. Electric Cars
4.2.1.6. BEVs
4.2.1.7. HEVs
4.2.1.8. PHEVs
4.3. India Automotive Plastics Market Outlook, by Application, Value (US$ Bn) and Volume (Kilo Tons), 2019-2031
4.3.1. Key Highlights
4.3.1.1. Exteriors
4.3.1.1.1. Bumpers
4.3.1.1.2. Tailgates/Liftgates, Hoods
4.3.1.1.3. Body Hardware
4.3.1.1.4. Others
4.3.1.2. Interiors
4.3.1.2.1. Seats
4.3.1.2.2. Dashboards
4.3.1.2.3. HVAC
4.3.1.2.4. Others
4.3.1.3. Engine Surrounding
4.3.1.3.1. Engine Covers/Valves
4.3.1.3.2. Covers
4.3.1.3.3. Fuel Hoses/ Lines
4.4. India Automotive Plastics Market Outlook, by Region, Value (US$ Bn) and Volume (Kilo Tons), 2019-2031
4.4.1. Key Highlights
4.4.1.1. North India
4.4.1.2. South India
4.4.1.3. East India
4.4.1.4. West India
5. Competitive Landscape
5.1. Product Type Vs Vehicle Type Heat Map
5.2. Company Market Share Analysis, 2023
5.3. Competitive Dashboard
5.4. Company Profiles
5.4.1. BASF SE
5.4.1.1. Company Overview
5.4.1.2. Cell Type Portfolio
5.4.1.3. Financial Overview
5.4.1.4. Business Strategies and Development
5.4.2. Sumitomo Chemical Co., Ltd.
5.4.2.1. Company Overview
5.4.2.2. Cell Type Portfolio
5.4.2.3. Financial Overview
5.4.2.4. Business Strategies and Development
5.4.3. Saudi Basic Industries Corp
5.4.3.1. Company Overview
5.4.3.2. Cell Type Portfolio
5.4.3.3. Financial Overview
5.4.3.4. Business Strategies and Development
5.4.4. DuPont de Nemours, Inc.
5.4.4.1. Company Overview
5.4.4.2. Cell Type Portfolio
5.4.4.3. Financial Overview
5.4.4.4. Business Strategies and Development
5.4.5. Prima Pvt. Ltd
5.4.5.1. Company Overview
5.4.5.2. Cell Type Portfolio
5.4.5.3. Financial Overview
5.4.5.4. Business Strategies and Development
5.4.6. Solvay SA
5.4.6.1. Company Overview
5.4.6.2. Cell Type Portfolio
5.4.6.3. Financial Overview
5.4.6.4. Business Strategies and Development
5.4.7. The Dow Chemical Company
5.4.7.1. Company Overview
5.4.7.2. Cell Type Portfolio
5.4.7.3. Financial Overview
5.4.7.4. Business Strategies and Development
5.4.8. LG Chem Ltd
5.4.8.1. Company Overview
5.4.8.2. Cell Type Portfolio
5.4.8.3. Financial Overview
5.4.8.4. Business Strategies and Development
5.4.9. Champion Plastics Pvt. Ltd
5.4.9.1. Company Overview
5.4.9.2. Cell Type Portfolio
5.4.9.3. Financial Overview
5.4.9.4. Business Strategies and Development
5.4.10. PVG Automotive Pvt. Ltd
5.4.10.1. Company Overview
5.4.10.2. Cell Type Portfolio
5.4.10.3. Financial Overview
5.4.10.4. Business Strategies and Development
5.4.11. G.V. INDUSTRIES
5.4.11.1. Company Overview
5.4.11.2. Cell Type Portfolio
5.4.11.3. Financial Overview
5.4.11.4. Business Strategies and Development
5.4.12. I-TECH PLAST INDIA PRIVATE LIMITED
5.4.12.1. Company Overview
5.4.12.2. Cell Type Portfolio
5.4.12.3. Financial Overview
5.4.12.4. Business Strategies and Development
5.4.13. Injecto Plast Pvt. Ltd.
5.4.13.1. Company Overview
5.4.13.2. Cell Type Portfolio
5.4.13.3. Financial Overview
5.4.13.4. Business Strategies and Development
5.4.14. Omico Plastics, Inc.
5.4.14.1. Company Overview
5.4.14.2. Cell Type Portfolio
5.4.14.3. Financial Overview
5.4.14.4. Business Strategies and Development
5.4.15. Prime Plast
5.4.15.1. Company Overview
5.4.15.2. Cell Type Portfolio
5.4.15.3. Financial Overview
5.4.15.4. Business Strategies and Development
6. Appendix
6.1. Research Methodology
6.2. Report Assumptions
6.3. Acronyms And Abbreviations