Recently, the latest report released by the Global Market Insight Consulting Company mentioned: By 2024, the annual sales of the global automotive plastics market are expected to exceed 50 billion U.S. dollars.
With the need of automobile weight reduction and control cost, more and more plastic products are used in automobiles. The automobile plasticization is a major development trend in the current international automobile manufacturing industry.
10% of the power transmission system in 2024
Automotive plastic parts are widely used in body parts and components such as chassis, power transmission systems, electronic components under the hood, fuel systems, interior and exterior trim parts, etc. Statistical data show that in 2016, global average polymer composite of each light vehicle The amount of material is about 150 kg.
GMI predicts that by 2024, automotive plastics will account for nearly 10% of the powertrain, including engines, transmission shafts, gears, transmissions, and bearings. Among them, the proportion of plastic in the chassis will exceed 9%.
The raw materials required for the production of automotive plastics are polyurethane (PU), acrylonitrile-styrene-butadiene copolymer (ABS), polymethyl methacrylate (PMMA), polyvinyl chloride (PVC) and polypropylene (PP). ).
GMI predicts that by 2024, the PMMA-based automotive plastics market will exceed US$1.3 billion. Thanks to its impact resistance, UV filtering, chemical resistance, high color accuracy, and weather resistance, these materials are mainly used internally. And external panels, molded parts, windows, screens, monitors, etc.
By 2024, the demand for PU-based automotive plastics may increase by more than 10%. Due to its advantages of light weight, durability, insulation, and good sound absorption properties, PU foams are mainly used for manufacturing elastic head cushions, cushioning panels, and armrests. And other interior parts.
By 2024, the increase in demand for automotive plastics based on ABS may exceed 9.5%. Due to their light weight, toughness, elasticity, and corrosion resistance, these materials are mainly used for the manufacture of dashboards, dashboards, bumpers and body panels.
By 2024, the market size of PVC-based automotive plastics may exceed 1.9 billion U.S. dollars, mainly for chassis coatings, door panels, seats, dashboards, handrails, window seals, weather strips, etc.
China and India have great growth potential
GMI pointed out that the continuous increase in global vehicle production and the increasing consumer demand for lightweight, energy-saving and environmental-friendly vehicles will stimulate the automotive industry's demand for plastics, especially in China and India. Industrialization and urbanization are developing rapidly.
China has been the world's largest new car market for many years in succession. In 2017, the production and sales of new cars reached 29,015,400 units and 28,887,900 units respectively. Thanks to this, by 2024, China's auto plastics market will increase by nearly 10%. 'The increase in foreign investment and consumers The increase in demand will stimulate the development of the automotive plastics industry in the region. ''GMI's report said so.
India also has great potential. In 2017, new car sales reached 4.01 million, surpassing Germany, the United Kingdom, and other countries, ranking fourth in the world, second only to China, the United States and Japan. Some analysts believe that by 2020 India will surpass Japan. Ranked No. 3 in the world. In China, the explosive growth of car demand is that after per capita GDP exceeds US$3,000, India’s per capita GDP has not yet exceeded US$3,000. However, with rural areas as the center, consumers who buy cars are increasing. After Modi served as Indian Prime Minister in 2014, the GDP of India continued to grow at a high rate. The Indian government encourages foreign investors to invest directly in the auto industry and plans to promote eco-friendly cars, which will promote the growth of the automotive plastics market.
In addition to developing countries, the use of automotive plastics in developed countries is also becoming increasingly widespread. The North American automotive plastics market, represented by the United States and Canada, is steadily increasing in size. It is expected that sales in 2024 will exceed US$5 billion. The increase in German automotive plastics market Will be close to 8.5%.