Automotive Additives Market Insights & Development Forecast during 2017–2022

Posted on 2019-10-07 by Mark Hub in Automotive // 0 Comments

Increasing number of automotive manufacturers are using plastics in the car. This trend of using plastic is also increasing as it helps in reducing the weight of the car. Hence, automotive addictive manufacturers are producing anti-scratch additives that can be used for interior and exterior applications. Manufacturers are also significantly investing in order to increase the speed and reduce production time involved in additive manufacturing. Meanwhile, additive manufacturers are also trying to produce new additives that can provide protection against scratch by reducing the friction. Increasing popularity of panoramic roofs in vehicles is also resulting in the heat and high UV light damaging the interior of a vehicle, hence light stabilizers are being provided to protect vehicle against UV rays. Using different materials for additive manufacturing can also open up possibilities for new design and for development of innovative end-products.

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According to the report compiled by Fact.MR, the global automotive additives market is expected to witness steady growth. The market is projected to increase to 5.5% CAGR during the forecast period 2017-2022. Owing to the requirement of right stabilization for the exterior of a vehicle such as rocker panels, tailgates, bumpers, due to long-term exposure to sunlight and heat, there has been an increase in the use of plastic additives. Manufacturers are also focusing on offering new automotive additives that can offer long-term scratch resistance. Below insights show how the global automotive additives market will perform in the next five years.

6 Forecast Highlights on Global Automotive Additives Market

North America is expected to dominate the global automotive additives market. Towards the end of 2022, North America automotive additives market is projected to exceed US$ 2,000 million revenue. Presence of the major market players and the increasing vehicle production are some of the factors fueling the growth of North America automotive additives market.
Europe is expected to be the second most lucrative market in the global automotive additives market. Europe automotive additives market is expected to witness steady growth during the forecast period.
Plasticizers are expected to be the most lucrative plastic additives. Plasticizers are projected to exceed US$ 2,400 million revenue by the end of 2022. Meanwhile, anti-scratch plastic additives are also expected to witness steady growth during the forecast period.
Polypropylene (PP) is expected to be one of the most preferred plastics in the automotive additives market. Accounting nearly two-fifth of the revenue share by the end of 2017, polypropylene is projected to create an incremental opportunity of over US$ 700 million between 2017 and 2022.
Interior automotive additives are expected to account for maximum revenue share. Interior automotive additives are projected to exceed US$ 2,600 million revenue by the end of 2022. Although Exterior automotive additives will also witness steady growth in the coming years.
Compact passenger cars are expected to be the largest users of the automotive additives. Compact passenger cars are projected to account for nearly one-third of the revenue share by the end of 2017.

Market Taxonomy

Plastic Additives	Plastic	Application	Vehicle Type
Plasticizers	Polypropylene (PP)	Exterior	Compact Passenger Cars
Anti-Scratch	Polyurethane (PUR)	Interior	Mid-sized Passenger Cars
Stabilizers	Poly-Vinyl Chloride (PVC)	Under the Hood	Premium Passenger Cars
Antioxidants	Acrylonitrile Butadiene Styrene (ABS)	Electronics & Electrical	Luxury Passenger Cars
Others			Light Commercial Vehicles
			Heavy Commercial Vehicles

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Plasticizers to be the Most Popular Plastic Additives

Plasticizers plastic additives are likely to gain close to one-third revenue share of automotive additives market by 2017 end. Plasticizers are estimated to create more than US$ 500 million incremental opportunity during 2017-2022. Although anti-scratch is likely to experience growth in the automotive additives market.

Polypropylene (PP) to be Highly Preferred Plastic in Automotive Additives

Polypropylene (PP) is likely to be one of the highly used plastic in the automotive additives market. Polypropylene is estimated to surpass US$ 2,900 million revenue towards 2022 end.

Automotive Additives to Find Largest Application in the Interior of the Vehicle

Interior of the vehicle is likely to be the largest segment for automotive additives applications. Interior application of automotive additives is estimated to bring in nearly US$ 2,700 million revenue by 2022 end. Although automotive additives are also being used on the exterior of a vehicle. Hence, exterior application of automotive additives are likely to experience steady growth.

Compact Passenger Cars to Gain Maximum Revenue Share

Compact passenger cars are likely to gain nearly one-third revenue share of the automotive additives market by 2017 end. By 2022 end, compact passenger cars are also estimated to surpass US$ 2,300 million revenue.

Competition Tracking

The report also profiles companies that are operating in the automotive additives market, which include Saudi Basic Industries Corp, Akzo Nobel NV, Covestro AG, LANXESS AG, BASF SE, The Dow Chemical Company, Clariant AG, Solvay SA, Croda International PLC, Evonik Industries AG, ExxonMobil Corporation, and Kaneka Corporation.

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