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I AgreeAnalysis of Automotive Additives market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global automotive additives market is estimated at USD 8.2 Billion in 2022 and is forecast to reach USD 13.2 Billion by 2032, growing at a CAGR of 4.9% during 2022-2032.
Report Attribute |
Details |
Market size value in 2021A |
USD 7.8 Billion |
Market estimated value in 2022E |
USD 8.2 Billion |
Market forecast value in 2032F |
USD 13.2 Billion |
Global Growth Rate (2022-2032) |
CAGR 4.9% |
East Asia Market Size in 2021 |
USD 2.1 Billion |
East Asia Market Growth Rate (2022-2032) |
CAGR 4.2% |
Top 5 Companies Market Share in 2021 |
~34% |
Key Companies Profiled |
|
Fact.MR estimates that automotive additives market accounted around ~5% of the global additives market in 2021 due to the fact that automotive additives market players focused on providing anti-scratch additives in recent past with an aim to increase the lifetime of the vehicle and maintain high-quality appearance, especially in the case of internal automotive parts. Moreover, thermal and light stabilizers were also provided by the companies operating in the automotive additives market.
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The East Asia automotive additives market is expected to provide maximum absolute $ opportunity to its manufacturers comprehended by the availability of strong supply chain networks of automotive additives manufacturers in this region.
Automotive additives in East Asia market continued to remain driven by the innate benefits of these products such as provision of protection to both the exterior and interior components of a vehicle during 2017-2022 and similar sort of trend is expected to be followed during the forecast period. Moreover, Chinese local players of UV absorbers present in East Asian market are witnessing a considerable profit margins in the automotive additives market in this region, as they reduce photo-degradation and offer exceptional on-tone fading.
Comprehending the aforementioned factors, China automotive additives market is estimated at USD 1.4 Billion in 2022 and is forecast to surpass market valuation of USD 2.5 Billion by end of 2032, growing at a rate of 4.7% during the forecast period.
In addition, East Asia automotive additives business is forecast to surpass USD 3.7 Billion in 2032 out of which ~77% share is projected to be generated through China and Japan automotive additives markets during the same year.
The report has estimated that during the forecast period, sales of automotive additives due to its application in vehicle interior will gain highest traction.
Compared to the various application of automotive additives, its application in interior parts of vehicles is likely to emerge with largest market share that is projected to exceed USD 4.9 Billion revenue by 2032 end.
Therefore, this particular segment in automotive additives business is projected to grow at 14.9% CAGR during 2022-2032 and is estimated to value around USD 4.1 Billion in 2022 by providing a gain of 430 BPS with absolute $ opportunity of USD 2.2 Billion. This segment is projected to cover share around ~32.5% market valuation for automotive additives by 2022.
Plasticizers plastic additives are likely to gain close to one-fourth i.e. ~27.2% revenue share of automotive additives market in 2022. Plasticizers are estimated to create more than USD 1.9 Billion incremental opportunity during 2022-2032. Although anti-scratch is likely to experience growth in the automotive additives business.
Thus, demand of plasticizers plastic additives is projected to gain 410 BPS during the forecast period of 2022-2032 and grow with CAGR of 5.1% during the same forecast to reach market valuation of USD 4.1 Billion by 2032-end.
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The global automotive additives market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced automotive additives.
Fact.MR has provided detailed information about price points of top manufacturers of automotive additives positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
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The global value of automotive additives market is estimated to be worth over USD 8.2 Billion in 2022.
Value of automotive additives market in 2032 is forecast to surpass USD 13.2 Billion by 2032 end.
During 2017-2021, global automotive additives market grew at 3.8% CAGR.
Plasticizers in plastic additives segment is estimated to provide an absolute $ opportunity of USD 1.9 Billion during the forecast period (2022-2032).
East Asia is expected to lead the global automotive additives market in 2022 by accounting around ~25.6% of the total market valuation.