Automotive Plastics Market Share

Regionally, the global automotive plastics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2037. The rising the population along with their income levels have increased the demand of vehicles which, in turn, is expected to bring lucrative growth opportunities for market. The total production of vehicles in the region was 46 million in 2021, whereas, the total sales in the region was 42 million in 2021 as per statistics released by International Organization of Motor Vehicles (OICA). Also, the presence of leading key players and exporters in the region is another factor that is expected to affect the automotive plastics market positively.  China, a country of Asia Pacific is estimated to have exported around 402,000 commercial vehicles and around 2 million passenger vehicles in the year 2021.