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(Transportation-News.com, October 25, 2017 ) In 2012, the global automotive plastics market was valued around USD 14.90 billion and is anticipated to reach approximately USD 46.09 billion by 2022, while maintaining a compound annual growth rate (CAGR) of 10.70% during the forecast period owing to global resurgence in the automobile segment, enhanced vehicle design and the rising significance of emission control and weight reduction are major factors fueling the growth of the global market. Plastics are extensively used in automotive parts and components due to their potential sourcing from reusable raw materials, relative ease of improved design and easiness of manufacturing. PU, PC, and ABS are a few alternative materials utilized for component and part applications of the vehicle. Generally, depending on performance requirements and fuel economy standards, an average car contains around 5.8% to 10% of plastics. This proportion is anticipated to augment during the approaching years, due to the increasing demand from customers for fuel-efficient, high-performance, and lightweight vehicles. Weight decline also extends a lucrative way to trim down fuel consumption and greenhouse gases emission. The polymerization of plastic monomers using catalysts in chemical reactions to create co-polymers and polymers and are twisted into polyethylene, polypropylene, polyvinyl chloride, polystyrene, polycarbonate and other polymerized plastic monomers.
These materials hold extremely enhanced properties more than their individual monomers and are tremendously stable for utilizing in fabrication and molding. Designing an automotive is a vital factor as it is related to a variety of exterior forces and also the chance of major impacts. To protect the vehicle’s structural integrity, the materials used in its construction then turn into vital factors for stability and safety. Even though they are comparatively less costly, their manufacturing equipment and design parameters are extremely expensive, which is anticipated to present a challenge for market players.
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Market Classification
Automotive Plastics Market, By Product, Estimates and Forecast, 2012-2022 ($Million)
Polypropylene
Polyurethanes
Polyvinyl Chloride
ABS
HDPE
Polycarbonates
PMMA
Polyamide
PET
Automotive Plastics Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
Interior
Exterior
Under bonnet
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