North America Automotive Plastics For Exterior Trim Market 2028 Analysis by Demand, Trends & Key Players

North America Automotive Plastics For Exterior Trim Industry Overview

The North America automotive plastics for exterior trim market size was valued at USD 19.57 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028.

The automotive industry in North America has witnessed a significant change over the years due to the growing trend towards lightweight vehicles to improve fuel efficiency. Plastics are a vital part of this rising trend as they are capable of providing substantial weight reduction, which results in reduced cost of the vehicle and improved fuel efficiency. Automotive exterior trim helps to increase the vehicle’s aesthetic appeal and protect the vehicle from the damage that can occur from the external surrounding. Furthermore, exterior trims are used to enhance the vehicle’s aesthetic appeal. The automotive exterior trim not only provides aesthetic appeal but also features such as prevention from dents, scratches, and others. The rising disposable income of the population in North America is driving consumers to purchase newly designed vehicles due to the increased branding by automotive manufacturers.

Gather more insights about the market drivers, restrains and growth of the North America Automotive Plastics For Exterior Trim Market

U.S. automotive plastics for exterior trim market size, by product, 2018 - 2028 (USD Million)

The U.S. accounted for a significant revenue share in the North American market in 2020. This is attributed to the growing utilization of plastics in the automotive industry. The diminishing oil and gas reserves and rising environmental pollution caused by vehicle emissions have propelled the demand for automotive plastics in exterior applications. The utilization of plastics has resulted in improving vehicle engine efficiency. Moreover, the rising trend among consumers to purchase appealing and economically feasible models of vehicles has driven the consumption of plastics in automotive exterior trims.

Automotive manufacturers are constantly developing quality products in response to customer preferences. The automotive market in North America is witnessing a concentration of efforts by component suppliers, automotive manufacturers, and distributors on designing vehicles, managing programs, handling the majority of the vehicular assembly, and carrying out the brands’ marketing. The COVID-19 resulted in the closure of boundaries across countries in North America, which resulted in supply chain disruptions and production cuts at some North American automotive manufacturing facilities due to the shortage of semiconductors.

The United States-Mexico-Canada Agreement mandates that at least 75% of the content for a vehicle in North America is to be procured from North America-based suppliers and manufacturers. This is expected to result in trade encouraging policies for trucks, automobiles, trucks, and other products and create a leveled playing field for the North American automotive industry. The policies compliant with the automotive industry are anticipated to grow the North American market for automotive plastics for exterior trim.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

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Market Share Insights 

  • September 2021: Ford Motor Company announced to invest USD 11 billion to boost electric vehicle production. It plans to transform at least 40% of its fleet to be battery-powered within nine years.
  • May 2021: Chinese bases Jiangsu Xinquan Automotive Trim Co., Ltd. announced setting up a factory in Mexico to manufacture automotive components. The company produces automotive exterior parts, interior parts, car dashboards, and other products. 

Key Companies profiled:

Some of the prominent players in the North America automotive plastics for exterior trim market include:

  • SABIC
  • LG Chem
  • Trinseo S.A.
  • Covestro AG
  • Mitsubishi Chemical Corporation
  • RTP Company
  • LOTTE Chemical CORPORATION
  • Sumitomo Chemical Co., Ltd.
  • Gehr Kunstoffwerk GmbH & Co. KG
  • Asahi Kasei Corporation

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