The rising demand for automobiles is the primary driver of the car plastic tailgate market. The market for automobile plastic tailgates is directly correlated with the expansion of the automotive sector. In addition, the growing preference for plastic tailgates over metal ones is another major factor driving the market. The weight and corrosion resistance of plastic tailgates are superior to those of metal ones. Moreover, they can be moulded into various shapes and designs, which gives automakers the flexibility to create unique designs for their vehicles. Consumers' increasing disposable incomes are yet another important aspect influencing the industry.
The Car Plastic Tailgate Market is essential since the tailgate is one of the most crucial components of a car. It aids in shielding the back of the car from grit and debris. Additionally, it aids in keeping the car's trunk tidy. Additionally, the Automobile Plastic Tailgate Market contributes to giving the paint job on the car a smooth surface.
Car plastic tailgates are panels that open to give access to the trunk or storage space and are found at the back of a car. They are often composed of reinforced composite or thermoplastic that has been moulded, and they are fastened to the car using hinges, latches, and other hardware. Car plastic tailgates are also the detachable, hinged panels found on the back of a car. They can have windows, mirrors, and other features, and they give access to the trunk or storage space. The function and overall design of an automobile are greatly enhanced by the presence of the tailgate. Polymers like polyethene terephthalate (PET) and polypropylene are used to make the plastic tailgates of automobiles (PP). They outperform metal tailgates in terms of corrosion resistance, are lightweight, and have durability. Additionally, plastic tailgates may be moulded into a variety of patterns and shapes, giving automakers the freedom to develop distinctive looks for their vehicles.
The market for plastic tailgates for automobiles is anticipated to grow at a CAGR of 8.6% from 2021 to 2031, reaching USD 9.39 billion.
The growth is attributable to both an increase in the demand for automobiles and a shift in consumer choice away from metal tailgates to plastic ones. Additionally, it is anticipated that the market will be driven by the advantages provided by plastic tailgates, such as improved fuel efficiency and durability.
The strict rules relating to pollution and fuel economy are mostly to blame for the difficulties the automobile plastic tailgate sector is currently experiencing. The market's major obstacle is the high price of basic materials. The market for automotive plastic tailgates is further challenged by the fluctuating cost of raw materials. The market is further challenged by the lack of knowledge about the advantages of automotive plastic tailgates. Meanwhile, the market is anticipated to expand significantly in the coming future due to the rising demand for lightweight and fuel-efficient cars.
Several major companies, including Magna International, Inc., Plastic Omnium SA, and Gestamp Automation S.A., are present in the automotive plastic tailgate market. During the forecast period, these firms are anticipated to hold a sizable portion of the market for vehicle plastic tailgates. Additionally, the market for automotive plastic tailgates is anticipated to rise rapidly for these businesses during the anticipated timeframe.
The Composite Tailgate Segment emerged as the Most Lucrative Type
The market is divided into two groups based on types: Composite tailgates and Full plastic tailgates. Among these, the composite tailgate category is currently dominating market share and is anticipated to increase at a rapid CAGR throughout the forecast period. Most people favour composite tailgates because of their advantages in terms of toughness, lightness, and flexibility. The growth of this market sector for automobile tailgates around the world is being driven by these advantages.
The Most Prominent Application is the SUV Segment
The sector is bifurcated into the Sedan and SUV categories based on Application. Due to the growing demand for SUVs among customers, the SUV sector is predicted to develop at the greatest CAGR among these over the projection period. Due to the simple accessibility of cutting-edge features and cutting-edge technologies in SUV vehicles, the sector is also predicted to experience the biggest growth. Due to the growth of the automotive industry, automobile buyers may now choose from a variety of SUVs at various price points. As a result, during the course of the projection period, this category is anticipated to grow.
The Asia Pacific Region to render Ample Financing Opportunities
North America, South America, Asia Pacific, Europe, and the Middle East & Africa comprise the regional market segments. Of these, the Asia Pacific region held the highest market share globally and is anticipated to expand significantly over the course of the projection period. One of the key factors contributing to this market's size is the rising use of Big Data analytics by businesses operating in the region.
COVID-19 Impact and Market Status
The COVID-19 pandemic has had a severe effect on the world economy, with 2020 seeing a substantial decline in vehicle manufacturing and sales. There was no exception for the plastic tailgate business, with output and sales declining by more than 20% in 2020. The market is anticipated to rebound in 2021 as economies start to pick up and auto production increases. The market is also anticipated to expand gradually over the following ten years, reaching a value of approximately USD 9.48 billion by 2031.
Recent Developments in the Car Plastic Tailgate Market
• Volkswagen said in March 2019 that it had created a new polypropylene tailgate with a 30% recycled material content. This is an illustration of recent changes in the market for plastic car tailgates.
• The BMW Group declared in December 2019 that it had created a new technique for its plastic parts dubbed In-Mould Coating (IMC). They will be able to cut the weight of their automobiles by about 20% as a result of this. This is an illustration of recent advancements and advances in the automotive plastic tailgate sector.
• BMW declared in May 2020 that it would produce automobile parts with recycled plastic from fishing nets and other ocean garbage. This is an illustration of recent developments and initiatives in the automotive plastic tailgate market.
Car Plastic Tailgate Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 9.39 billion|
|Growth Rate||CAGR of 8.6% during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Magna International, Inc., Plastic Omnium SA, and Gestamp Automation S.A.,|
Key Segments of the Automotive Plastic Spoiler Market
Type Overview, 2021-2031 (USD Billion)
• ABS Plastic,
Application Overview, 2021-2031 (USD Billion)
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa