According to the market research report “Automotive
Plastics Market for Passenger Cars: Global Trends & Forecasts
to 2016 – By Types & Geography”, published by
MarketsandMarkets, the global automotive plastics revenue is expected
to grow from $22,155 million in 2011 to $42,135 million in 2016 at an
estimated CAGR of 13.7% for the same period.
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The automotive plastics are used in
various automotive components such as bumpers, seating, dashboards,
upholstery, internal, and external trims. The researches on composite
materials, reinforced plastics, and polymers have come up with improved
material qualities that make them suitable for use in interior,
exterior, and under bonnet components of automobiles. The careful
selection of these automotive plastics enables designers to improve
durability, meet load bearing requirements, and achieve reduction in
vehicle weight.
As of year 2011 Asia-Pacific leads
automotive plastics consumption volume by 52% followed by Europe (29%),
North America (10%), and rest of the world (9%) of which polypropylene
leads consumption by 36% followed by polyurethanes (17%), ABS (12%),
composites (11%), HDPE (10%), polycarbonates (7%), and PMMA (7%) due
their easy forming properties and their availability at cheaper price
than other materials.
The automotive plastics are among one of
the widely preferred alternatives for light-weighting of the automobile
as they offer enhanced properties such as impact strength, easy
mold-ability, improved aesthetics, and reduced weight as compared to
conventional automotive components. The increasing production of
passenger cars In Asia-Pacific is one of the main drivers for increasing
consumption of automotive plastics globally. The global automotive
plastics consumption is expected to grow from 6.7 million tons in 2011
to 10.2 million tons in 2016 at an estimated CAGR of 8.6% for the same
period.
The market dynamics of Automotive
Plastics Market for Passenger Cars are studied for market insights such
as drivers, restraints, and opportunity. The main drivers of automotive
plastics utilization are their potential for maximum mass reduction of
automobile and carbon emission reduction potential by light-weighting of
the vehicle. The factors restraining the market are high material cost
and huge investment in material research activities by companies. The
opportunities are cited in new materials such as reinforced composites
and PMMA.
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