The Latin America, Middle East and Africa Automotive Plastics Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,358.6 Kilo Tonnes, showcasing a growth of 7.0% (2023-2030).
Plastics and engineered polymers are used in various automotive applications in manufacturing exterior and interior components like bumpers, doors, safety and windows, headlights, side view mirror housing, trunk lids, hoods, grilles, and wheel covers. These high-performance plastics are used in the automotive industry because of their good mechanical properties and appearance. These high-performance plastics make cars more energy efficient by reducing weight and providing durability, corrosion resistance, toughness, design flexibility, resiliency, and high performance at a low cost.
The rise of electric and hybrid vehicles (EVs) has necessitated a reevaluation of traditional manufacturing materials. With the emphasis on optimizing energy efficiency and extending range, it have become integral to the design of electric and hybrid vehicles. The lighter weight offered by plastics contributes directly to increased battery efficiency and, consequently, the overall performance of these alternative propulsion systems. Consumer preferences shift towards vehicles that balance performance, comfort, and environmental responsibility. It enable manufacturers to create sleek designs, improve aerodynamics, and enhance interior features.
According to the Dubai Water and Electricity Authority, the number of EVs in Dubai is predicted to be about 7,331 in 2023 and 12,852 by 2025. This supports Dubai's Green Mobility Strategy 2030, which mandates that by 2030, 30% of public sector vehicles and 10% of all new vehicle sales will be electric or hybrid. Plastics are used to insulate and protect wiring, contributing to the reliability of communication networks within the vehicle in South Africa. Plastics are used to design various interior components, including consoles, panels, and storage compartments, that house connectivity interfaces such as USB ports and wireless charging pads in South Africa. Therefore, due to these aspects, the market will expand across the LAMEA region in upcoming years.
The Brazil market dominated the LAMEA Automotive Plastics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $833.7 million by 2030. The Argentina market is showcasing a CAGR of 8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.6% during (2023 - 2030).
Free Valuable Insights: The Worldwide Automotive Plastics Market is Projected to reach USD 39.9 Billion by 2030, at a CAGR of 5.1%
Based on Process, the market is segmented into Injection Molding, Blow Molding, Thermoforming, and Others. Based on Application, the market is segmented into Interior Furnishings, Powertrain, Electrical Components, Exterior Furnishings, Chassis, and Under the Hood. Based on Product, the market is segmented into Polypropylene (PP), Polyurethane (PU), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene (PE), Polymethyl Methacrylate (PMMA), Polycarbonate (PC), Polyamide (PA), and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Process (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
