The North America Automotive Plastics Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 2,925.2 Kilo Tonnes, showcasing a growth of 3.2% (2019-2022).
Plastics are commonly used in insulating and housing electrical wiring and connectors due to their insulating properties and durability. Headlamps, taillight housings, and other lighting components often utilize plastics for their transparency, impact resistance, and design flexibility. Plastics are used to construct various components within infotainment systems, including touchscreens, buttons, and bezels. Plastics fabricate storage compartments, cup holders, and other interior features, providing a lightweight and durable solution.
Plastics, particularly impact-resistant materials, are used in constructing airbag housings, contributing to safety features during a collision. Plastics play a role in manufacturing seatbelt components, offering a combination of strength and flexibility. The use of high-density polyethylene (HDPE) plastics in fuel tank manufacturing is widespread owing to their durability and corrosion resistance. Plastics are used to fabricate various suspension components, such as bushings and control arms, contributing to weight reduction and improved ride comfort. Plastics create aerodynamic panels underneath vehicles to reduce drag and improve fuel efficiency.
As per the International Trade Administration, Mexico City is the world's fifth most populous city, with 21 million people and 33.4 million vehicles. In 2018, Mexico recorded a 68 percent increase in EV sales, and hybrid vehicle sales surpassed 17,800 units compared to 2017. 955,393 electric and hybrid vehicles were sold in 2019 from January through September. Plastics are integral to manufacturing connectors and wiring systems for electric vehicles in Mexico. Manufacturers in Canada are adopting plastics that are easier to recycle at the end of a vehicle's life, contributing to a more circular economy and reducing environmental impact. Canada has witnessed the adoption of 3D printing technologies in automotive manufacturing. Therefore, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Automotive Plastics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,951.4 million by 2030. The Canada market is experiencing a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.3% during (2023 - 2030).
Free Valuable Insights: The Automotive Plastics Market is Predict to reach $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 U.S., Mexico, Canada, and Rest of North America.
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)
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