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Automotive Additives Market

Automotive Additives Market

Automotive Additives Market Analysis by Plastic Additives (Plasticizers, Anti-Scratch, Stabilizers, Antioxidants), by Polymer Type (Polypropylene (PP), Polyurethane (PUR), Poly-Vinyl Chloride), by Application, by Vehicle Type & by Region - Global Insights 2022-2032

Automotive Additives Market
FACT308MR
  • Mar-2022
  • List of Tables : 70
  • List of Figures : 102
  • 170 Pages
  • Automotive

Global Automotive Additives Market Outlook

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

  • 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
  • Kaneka Corporation

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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Automotive Additives Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

  • East Asia automotive additives market have been generating maximum revenue for automotive additives manufacturers from past half-decade. Around 25.1% of overall market valuation for automotive additives was generated by East Asian countries in 2021 which is forecast to surpass valuation of USD 3.7 Billion by 2032 end, growing with 4.2% CAGR. Industrial motor business in China generated around 67.5% share of total business in 2021 and is projected to grow with exciting CAGR of 4.7% during 2022-2032.
  • Global automotive additives market grew with CAGR of 3.8% with an absolute $ opportunity of USD 2.3 Billion during 2017-2021.
  • Interior of vehicles under applications segment of automotive additives market held the maximum market share ~32.1% in 2021 and is expected to gain 430 BPS within the forecast period by contributing the market with share of ~36.8% by end of 2032 that is around USD 1.9 Billion.
  • Under plastic additives for automotive segment, demand of plasticizers is estimated to hold market share of ~27.2% in 2022 and is likely to provide an absolute $ opportunity of USD 1.9 Billion by reaching a market valuation of USD 4.1 Billion in 2032.

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Region-wise Insights

How East Asia is projected to Witness Largest Share in Market of Automotive Additives during the Forecast Period?

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.

Automotive Additives Market forecast analysis by Fact.MR

Category-wise Insights

What is the Market Scenario of Automotive Additives in Application for Interior of Vehicles?

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.

Which Plastic Additive is anticipated to Provide Highest Absolute $ Opportunity in Business of Automotive Additives?

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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Competitive Landscape: Top Companies in Automotive Additives Market

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.

Global Automotive Additives Market Segments

  • By Plastic Additives :

    • Plasticizers
    • Anti-Scratch
    • Stabilizers
    • Antioxidants
    • Others
  • By Polymer Type :

    • Polypropylene (PP)
    • Polyurethane (PUR)
    • Poly-Vinyl Chloride (PVC)
    • Acrylonitrile Butadiene Styrene (ABS)
  • By Application :

    • Exterior
    • Interior
    • Under the Hood
    • Electronics & Electrical
  • By Vehicle Type :

    • Compact Passenger Cars
    • Mid-sized Passenger Cars
    • Premium Passenger Cars
    • Luxury Passenger Cars
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

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.

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