PUBLISHER: Grand View Research | PRODUCT CODE: 1588648
PUBLISHER: Grand View Research | PRODUCT CODE: 1588648
The global automotive plastic compounding market size is estimated to reach USD 4.54 billion by 2030, expanding at a CAGR of 6.44% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is projected to register substantial growth due to the rising demand for lightweight electric and hybrid vehicles, along with the presence of major automotive manufacturers.
Key automotive manufacturers are establishing their production and R&D facilities which have created lucrative opportunities for the plastic compounding market. Furthermore, the growing usage of high-performance plastic compounded components by manufacturers to achieve weight reduction and fuel efficiency in passenger as well as sports cars have augmented the demand for plastic compounds globally.
Automotive is one of the developed industries in India. Several factors including population growth, rapid urbanization, rising disposable incomes, and diminishing unemployment rate in India have played an important role in developing automobile manufacturing in the country.The demand for automotive components fuels the demand for polypropylene compounds in the automotive industry over the forecast period.
Polyamide (PA) compounds are widely used across automotive applications due to their rigidity, sliding friction, dimensional stability, and chemical resistance. Polyamide is used to replace metal in automotive parts, where design flexibility and temperature & chemical resistance are critical. It has an excellent surface appearance and exceptional chemical, heat, & fatigue resistance. The aforementioned properties contribute to its widespread automotive application scope, in turn, boosting the product demand globally.