Automotive Plastics Market Size

Automotive Plastics Market size was valued at USD 31.31 billion in 2024 and is expected to cross USD 62.57 billion by the end of 2037, expanding at more than 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive plastics is estimated at USD 32.69 billion. The primary factor that is attributed to fuel the market growth in the forecast period is the rapid expansion in the automotive industry. Recent calculation stated that the revenue generation by global automotive industry is anticipated to stand at almost USD 9 trillion by 2030.   

Car manufacturers are highly focusing on building improved designs to reduce the weight of vehicles. Plastics are easy to produce which can be sourced from renewable materials are easy to handle for improved designs. As a result, automotive plastics are preferred over the rest in the automotive industry. This rapid growth of automotive industry has also propelled the employment rate to increase in the sector considerably. In fiscal year 2018, the Indian automotive industry employed approximately 2 million people.