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Automotive Additives Market: Compact Passenger Cars to Gain Maximum Revenue Share

 According to the latest report by Fact.MR, the automotive additives market is likely to experience above-average growth. The automotive additives market is estimated to reach US$ 8,251.8 million revenue by 2022 end. Manufacturers of automotive additives are focusing on developing highest performing solutions and with plastic emerging as the highest applied material in the interior, exterior and under the hood of the vehicle, automotive plastic additives are witnessing increased use in the automotive industry.
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Anti-scratch additives have become ever-more popular owing to trends to lightweight with plastics and the need to preserve the aesthetic nature in the automotive industry. Taking up the gauntlet to propel the longevity of the plastic parts, car manufacturers have accelerated the use of anti-scratch additives. Anti-scratch additives are known to lessen the scratch visibility and whitening, and at the same time maintaining stability and low visible bloom after exposure to heat and UV light. Meanwhile, the use of anti-dust additives has also surged against the backdrop of soaring off-road driving and pollution.
Highlights on Global Automotive Additives Market
  • North America is expected to dominate the global automotive additives market. Towards the end of 2022, North America automotive additives market is projected to exceed US$ 2,000 million revenue. Presence of the major market players and the increasing vehicle production are some of the factors fueling the growth of North America automotive additives market.
  • Europe is expected to be the second most lucrative market in the global automotive additives market. Europe automotive additives market is expected to witness steady growth during the forecast period.
  • Plasticizers are expected to be the most lucrative plastic additives. Plasticizers are projected to exceed US$ 2,400 million revenue by the end of 2022.
  • Polypropylene (PP) is expected to be one of the most preferred plastics in the automotive additives market. Accounting nearly two-fifth of the revenue share by the end of 2017, polypropylene is projected to create an incremental opportunity of over US$ 700 million between 2017 and 2022.
  • Interior automotive additives are expected to account for maximum revenue share. Interior automotive additives are projected to exceed US$ 2,600 million revenue by the end of 2022. Although Exterior automotive additives will also witness steady growth in the coming years.
The report includes preface and executive summary delineating automotive additives market. The report also includes market overview section which sheds light on industry evolution, market revenue projections and value chain analysis. The overview section also delves into Porters’ Five Force analysis which robustly reveals the competitive scenario pertaining to automotive additives market. The report also has a market outlook section which delineates reimbursement scenario on basis of region and focuses on technological advancements.
Automotive Additives Market: Competitive Scenario
The report also profiles companies that are operating in the automotive additives market, which include 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, and Kaneka Corporation.

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