Menu ×

AUTOMOTIVE & TRANSPORTATION

Automotive Bioplastic Market Segmentation By Material Type [Bio-Polyamides (Bio-Pa), Natural Fibers, Poly-Lactic Acid, Polybutylene Succinate (PBS), Bio-Based Polypropylene (Bio-PP) and Others} and By Application {Interior (Door Consoles & Panels, Interior Lighting, Fabrics & Upholstery, Instrument Panels, Floor Mats, Seats, Seat Cushion Foam and Ventilation Ducts) and Exterior (Bumpers, Hoods, Trim, Exterior Lights and Liftgates)] – Global Demand Analysis & Opportunity Outlook 2028

  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

IN THE NEWS

  • January 2020: AGRANA Beteiligungs-AG announced that it has acquired the total share of Marroquin Organic International Inc., a distribution company based out of the United States, and a long-standing partner of AGRANA Starke-GmbH. The acquisition move will help the company in expanding the distribution of its starch segment, which is also used to manufacture bioplastics.

  • June 2020: Anellotech, Inc. announced that the company would observe investment from R Plus Japan Ltd. For the development of its technology for recycling plastics, known as Plas-TCat™.

Introduction to Automotive Bioplastics

The bioplastics that are used in the automotive industry are usually referred to as the automotive bioplastics. The raw materials used in the manufacturing of bioplastics are usually from biological sources, such as corn starch, vegetable fats and oils, recycled food waste, woodchips, and others, instead of conventional sources, such as fossil fuel. Bioplastics possess several beneficial characteristics that make it suitable for use in the automotive industry. Bioplastics are known to have around 25% less weight than conventional plastics. As such when plastic attachments made of bioplastics are used in automotive vehicles, the overall curb weight of the vehicle reduces, thereby increasing vehicle efficiency.

Market Size and Forecast

The global automotive bioplastic market is thriving on the back of the growing sales and production of vehicles worldwide, backed by factors such as increasing urbanization and the rising disposable income of individuals. According to the statistics by International Organization of Motor Vehicle Manufacturers (OICA), sales of both commercial and passenger vehicles increased from 75 million in the year 2010 to 91 million in the year 2019, whereas production of vehicles increased from 77 million in the year 2010 to 91 million in the year 2019. CLICK TO DOWNLOAD SAMPLE REPORT

Automotive-Bioplastic-MarketThe global automotive bioplastic market is anticipated to achieve a moderate CAGR throughout the forecast period, i.e. 2021-2028. The market is segmented by material type into bio-polyamides (Bio-Pa), natural fibers, poly-lactic acid, polybutylene succinate (PBS), bio-based polypropylene (Bio-PP) and others. The bio-based polypropylene (Bio-PP) segment is anticipated to hold the largest market share on the back of the benefits it possesses over other plastic types. Moreover, bio-based polypropylene is used in various applications in vehicles, including air ducts, air conditioning systems, bumpers, lateral sidings, dashboards, battery covers and pressure vessels amongst others.

Global-Automotive-Bioplastic-Market

Growth Drivers

Growing Need Amongst Vehicle Manufacturers to Reduce Vehicle Curb Weight

According to the statistics by the United States Environmental Protection Agency (EPA), transportation sector contributed to the major share of 28% for the GHG emissions in the United States.

Increasing concern for vehicular emissions around the globe has raised the necessity amongst the vehicle manufacturers to find out alternatives that help to reduce the weight of the vehicle. A minor reduction in the weight of the vehicle reduces the pressure on the engine and further helps save the energy which it spends to carry the weight of the vehicle. Further, light weight vehicles are known to be more energy efficient and are also more secured in terms of their accidental ratings. Such a factor is anticipated to drive the growth of the global automotive bioplastic market over the forecast period.

Increasing Concern for the Recycling of Vehicle Parts

Several parts of the vehicle are non-recyclable, or their recyclability costs are more. The recyclability rate of bioplastics is high which provides a great competitive edge for the adoption of bioplastics in automotive instead of other conventional available alternatives. On the other hand, as bioplastics have favourable recyclability rate, hence, the concern for the environment generated from plastic wastes is also less, which is also anticipated to drive the growth of the global automotive bioplastic market.

Restraints

High Production Costs of Bioplastics

The production costs of bioplastics are often very high as they are manufactured using raw materials sources from plants, which require huge arable land. Additionally, the fear amongst the farmers whether to grow food crops or cash crops, which might further affect the food grain stock, also hampers the production of cash crops. Such factors raise the cost of production of the raw materials required for the manufacturing of bioplastics, thereby impacting the cost of automotive parts manufactured from bioplastics, which is anticipated to limit the growth of the global automotive bioplastic market throughout the forecast period.

Market Segmentation

Our in-depth analysis of the global automotive bioplastic market includes the following segments:

By Material Type

  • Bio-Polyamides (Bio-Pa)
  • Natural Fibers
  • Poly-Lactic Acid
  • Polybutylene Succinate (PBS)
  • Bio-Based Polypropylene (Bio-PP)
  • Others

By Application

  • Interior
    • Door Consoles & Panels
    • Interior Lighting
    • Fabrics & Upholstery
    • Instrument Panels
    • Floor Mats
    • Seats
    • Seat Cushion Foam
    • Ventilation Ducts
  • Exterior
    • Bumpers
    • Hoods
    • Trim
    • Exterior Lights
    • Liftgates

By Region

On the basis of regional analysis, the global automotive bioplastic market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The market in North America and Europe is anticipated to grow significantly owing to the presence of several large vehicle manufacturing companies in the regions who are continuously investing to develop advance technologies or materials that contribute to the advancements in vehicular design and technology. On the other hand, the growing awareness amongst the vehicle manufacturers in the nations for the growing vehicular GHG emissions is also anticipated to drive the growth of the automotive bioplastic market in the regions.

The global automotive bioplastic market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating The Market


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved