Industry Analysis of Automotive Plastic in BRIC Countries

Strategic Analysis of Automotive Plastic Industry in BRIC for 2024 to 2034

The demand for Automotive Plastic In BRIC Countries is expected to develop considerably, hitting USD 75.2 billion by 2024. From 2024 to 2034, the sales of automotive plastic in BRIC countries are predicted to accelerate at a strong CAGR of 6.9%. The adoption of automotive plastic in BRIC countries is forecasted to be worth USD 146.5 billion by 2034.

One of the main factors accelerating the automotive plastic industry expansion in BRIC countries is the rising demand for hybrid and electric automobiles. Due to growing concerns about climate change and air pollution, there is a greater focus on lowering greenhouse gas emissions.

Governments are encouraging the use of EVs by offering incentives and subsidies. The demand for automotive plastics in BRIC countries has increased due to the growing popularity of electric and hybrid cars, especially for lightweight parts.

Attributes	Details
Demand Analysis (2024)	USD 75.2 billion
Demand Forecast (2034)	USD 146.5 billion
CAGR Estimation (2024 to 2034)	6.9%

Emerging Trends and Strategic Roadmap for Automotive Plastics in BRIC

Lightweight materials, such as plastics, have significant opportunities in the automotive industry because of its continued focus on fuel economy and emission reduction. To replace conventional materials and lighten vehicles' overall weight, automotive plastic manufacturers are inclined to seek creative ways to use plastic.

The increasing adoption of autonomous driving and electric cars (EVs) expands automotive plastic's potential uses in BRIC countries. Lightweight and robust automotive polymers are likely to be utilized to develop components for electric powertrains and autonomous systems.

Sustainable development and environmental responsibility are becoming steadily more significant to the automotive sector. Opportunities in BRIC countries emerge for innovative recycling solutions for end-of-life automotive components and environmentally beneficial and recycled plastics.

BRIC Automotive Plastics Industry Analysis by Top Investment Categories

Within the automotive plastic industry in BRIC countries, which varies based on material types, the polypropylene sector leads in the category due to extensive research and development. At the same time, the interior component segment leads the application category, highlighting its importance in the automobile plastic industry.

Polypropylene Dominates the Automotive Plastic Industry in BRIC Countries

Leading Segment	Polypropylene
Segment Share (2024)	20.3%

• Since polypropylene meets a wide range of consumer preferences, the automotive plastic industry takes precedence. Its enhanced design flexibility and aesthetic appeal also support its growth.
• Automotive plastic manufacturers accelerate time-to-market with simpler production procedures. This has been made possible by the easy moldability of polypropylene.
• Polypropylene is perfect for various automotive applications because of its lightweight and versatile character. This helps reduce overall vehicle weight and improve fuel efficiency.
• Polypropylene surpasses high-performance requirements for automotive components by providing exceptional resistance to chemicals and fatigue.

Interior Components are Steering Automotive Plastic Sales in BRIC Countries

Leading Segment	Interior Component
Segment Share (2024)	63.6%

• The widespread adoption of interior plastic components in contemporary car designs is considerably increasing. This is because consumer tastes are shifting toward connected features and sophisticated entertainment systems.
• As customer demand for more comfortable and aesthetically pleasing car interiors rises, interior components are expected to propel automotive plastic sales.
• Automakers are driven to choose lightweight polymers for interior components due to stricter laws that promote fuel efficiency and emission reduction. This has also helped them prevail in the industry.

Analysis of BRIC Automotive Plastics Industry by Country

This section illustrates the automotive plastic industry for key BRIC economies such as Brazil, Russia, China, and India. According to a comprehensive evaluation, China presents significant opportunities, suggesting that the automotive polymer market is lucrative here.

To establish China as a key player with ample opportunities for automotive plastic producers in BRIC countries, this report highlights the potential for growth and investment in China's industry.

China's Automotive Plastic Business Drive Innovation

Country	China
Forecasted CAGR (from 2024 to 2034)	8.0%

• China's strong manufacturing sector and growing focus on lightweight automobiles have bolstered the automobile plastic industry.
• The automotive industry uses a lot of plastic materials, partly due to the large number of OEMs and suppliers in China.
• The demand for cars is stimulated by rapid urbanization and the growth of the middle class, which is fostering the car plastic industry in China.
• China's stringent carbon emission reduction targets encourage the adoption of automobile plastics.

Lightweight Plastics Answer Electric Mobility Calls in India

Country	India
Forecasted CAGR (from 2024 to 2034)	6.1%

• Rising investments in research and development are transforming the future trajectory of the Indian automotive sector to improve the sustainability and performance of automotive polymers.
• India's rapidly growing automobile sector and the rising demand for reasonably priced passenger cars are boosting the market growth of automotive plastic in India.
• In India's automobile industry, the adoption of lightweight materials like plastics has been accelerated by government measures supporting electric mobility and strict emission standards.

Latest Advancements are Shaping Brazil's Automotive Plastic Sector

Country	Brazil
Forecasted CAGR (from 2024 to 2034)	6.2%

• The increased emphasis on lightweighting to improve fuel efficiency and lower emissions contributes to Brazil's automotive plastic demand.
• Research and development expenditures for creating novel materials with improved performance and durability are escalating in Brazil's automotive plastic business.
• Brazilian automakers are increasingly using recycled and bio-based polymers in vehicle production due to sustainability programs and regulations.

Recent Trends are Reshaping Russia’s Automotive Plastic Industry

Country	Russia
Forecasted CAGR (from 2024 to 2034)	5.6%

• Modernization efforts in the domestic car manufacturing sector spur growth in Russia's automotive plastics sector.
• Russia's demand for automotive plastics is driven by changing customer tastes toward more aesthetically beautiful and technologically sophisticated car interiors.
• Russian automakers are progressively incorporating lightweight plastic components to maximize fuel efficiency and operational effectiveness while focusing on cost-effectiveness.

Leading Companies in BRIC Automotive Plastics Industry and their Market Share

Prominent automotive plastic manufacturers in BRIC countries significantly impact how the market is shaped, how technology is developed, and how quickly the economy is projected to expand overall. While SIBUR and GAZ Group contribute to the industry's resilience, Braskem and Grupo Plasutil bring plenty of experience to the field.

Reliance Industries Limited and Supreme Industries Limited are two automotive plastic vendors that demonstrate their skills in the industry. Yanfeng Automotive Interiors, Sinopec, and BASF SE all play significant roles in creating a competitive environment that is characterized by innovation, strategic alliances, and a dedication to advancing the automotive plastics sector in the BRIC nations.

Recent Developments Observed in Automotive Plastic in ­­­BRIC Countries

Company	Details
BASF SE	Zhejiang REEF Technology and BASF SE teamed up in March 2023 to develop cutting-edge recycled formulations for the consumer, packaging, and automotive industries. BASF will provide technical support and IrgaCycle solutions for recycled polymer compositions, which will be tested at BASF's facilities.
BASF SE	Pyrum Innovations AG, WITTE Automotive, Mercedes-Benz, and BASF joined forces to develop automobile components from mass-balanced plastics in October 2022.
BASF SE	Citroën and BASF revealed the oli [all-ë], an all-electric concept automobile that aims to save as much weight and resources as possible, in September 2022. BASF has been implementing a comprehensive sustainability plan. Among the main tenets of this strategy are the biomass balancing approach and the ChemCyclingTM project, which substitutes renewable resources for fossil fuels in production.

Report Scope Table - Automotive Plastic Market in BRIC Countries

Report Attributes	Details
Current Total Market Size (2024)	USD 75.2 billion
Projected Market Size (2034)	USD 146.5 billion
CAGR (2024 to 2034)	6.9%
Base Year for Estimation	2023
Historical Period	2019 to 2024
Projections Period	2024 to 2034
Quantitative Units	USD billion for value
Material Types Analyzed (Segment 1)	Polypropylene (PP), Polyurethane (PUR), ABS, PVC, PE, PS, Polycarbonate, Polyamide, Acrylics, Plastic Composites, Others
Application Segments Covered (Segment 2)	Interior Components, Exterior Components and Frame
End Uses Covered (Segment 3)	Conventional Vehicles, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles (Pure Electric, Hybrid Electric)
Countries Covered	Brazil, Russia, India, China
Key Players Influencing the Market	General Plastic Industries, Multitek Auto Parts, Injectoplast Pvt Ltd., BINSIT, Sakura Tech, Brazil Molding, BASF SE, Dow Chemical, SABIC, Covestro AG, DuPont de Nemours
Additional Attributes	Dollar sales by material type and application, polypropylene innovation, interior components driving sales, regulatory impact on fuel efficiency, regional market dynamics
Customization and Pricing	Customization and Pricing Available on Request

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Type
  • 5.1. Polypropylene (PP)
  • 5.2. Polyurethane (PUR)
  • 5.3. Acrylonitrile Butadiene Styrene (ABS)
  • 5.4. Polyvinyl Chloride (PVC)
  • 5.5. Polyethylene (PE)
  • 5.6. Polystyrene (PS)
  • 5.7. Polycarbonate (PC)
  • 5.8. Polyamide (PA)
  • 5.9. Acrylic (PMMA etc.)
  • 5.10. Plastic Composites
  • 5.11. Others
• 6. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 6.1. Interior Components
  • 6.2. Exterior Components and Frame
• 7. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-uses
  • 7.1. Conventional Vehicles
  • 7.2. Electric Vehicles
• 8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 8.1. Brazil
  • 8.2. Russia
  • 8.3. India
  • 8.4. China
• 9. Brazil Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
• 10. Russia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
• 11. India Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
• 12. China Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
• 13. Market Structure Analysis
• 14. Competition Analysis
  • 14.1. General Plastic Industries
  • 14.2. Multitek Auto Parts
  • 14.3. Injectoplast Pvt Ltd.
  • 14.4. BINSIT
  • 14.5. Sakura Tech
  • 14.6. Brazil Molding
  • 14.7. BASF SE
  • 14.8. The Dow Chemical Company
  • 14.9. Saudi Basic Industries Corp (SABIC)
  • 14.10. Covestro AG
  • 14.11. DuPont de Nemours, Inc.
• 15. Assumptions & Acronyms Used
• 16. Research Methodology