21-05-18 Resin trends
Up to 2014, predictions on plastic consumption appoint to continuous rising.
Thus more expenditure for sustained solutions and eco friendly.
plastic type distribution projection
by resin type
PMMA based automotive plastics market size should surpass USD 1.3 billion by 2024. These are highly used in creating various interior and exterior panels, molded parts, trims, number plates along with application in windows, screens and displays owing to its superior characteristics such as impact resistance, UV filtering, chemical resistance, accuracy in color along with weathering properties ensuring product parts durability and longevity. Increasing sustainable polymer demand owing to rising environmental concerns for plastic waste accompanied with stringent government norms may promote product demand.
Polyurethane (PU) based automotive plastics industry demand may register gains at over 10% owing to lightweight and excellent durability, increased fuel economy, corrosion resistance, insulation and sound absorption properties. PU foams are used for making head rests, cushioned instrumental panels and arm rests along with various other car interiors thereby stimulating product demand.
Acrylonitrile butadiene styrene based automotive plastics market size is witness significant growth at over 9.5% during the forecast timeframe. It is used in manufacturing cars dashboard, instrument panel, covers, bumpers, and body panels. Consumers inclinations towards stylish vehicles owing to weight reduction, toughness, flexibility, and corrosion resistance should drive industry growth.
by region
Europe automotive plastics market size, driven by Germany, Russia, UK and France are poised to exceed USD 14 billion over the projected timeframe. Stringent government guidelines by EU Commission regarding End of Life vehicles along with reducing GHG emissions may favor regional industry growth. Strong focus on R&D spending with OEM’s manufacturers are engaged in designing less expensive product leading to fuel efficiency and reducing overall production costs may favor industry growth in the region.
China automotive plastics market size should may register gains close to 10% owing to rapid industrialization and increasing number of passenger cars produced. Rising foreign investment along with increasing demand for passenger vehicles may stimulate industry growth in the region. Automotive OEMs are focusing on the online retail channels in the near future, to help maintain a direct relationship with the buyers.
Brazil automotive plastics industry should witness significant growth at over 10.5% up to 2024. Rising domestic autos demand with economic stability has led to rise in car production thereby stimulating industry growth. Companies are developing flex and compact fuel cars to combat consumer needs by adopting lightweight technology in vehicles.
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source PT
