Recently, the nationally renowned heavy vertical plastic e-commerce platform has created a research report. As the demand for light vehicles continues to grow, by 2024, the global automotive plastics market will exceed 50 billion US dollars (about 330 billion yuan).
The research report on shaping the top grades said that with the increasing production of automobiles and the demand for fuel efficiency, durable and light vehicles, consumers may stimulate the demand of the automotive plastics industry.
India, Japan and China's rapid industrialization and urbanization will boost demand for commercial vehicles, sport utility vehicles (SUVs), hybrid vehicles (HEVs) and passenger vehicles. Per capita income and living standards will create Demand for fashion cars, driving industry growth.
Automotive plastics should be used in a wide range of automotive components, including body exterior components, transmission systems, electronics, under-the-hood components, fuel systems, and instrument panels. The plastics used in automobiles are durable, scratch-resistant and resistant. Grindability, and can be effectively designed for injection molding. Increased manufacturing centers, as well as increased government spending on advanced technology, can contribute to the growth of automotive plastics.
The North American automotive plastics market is growing steadily as consumers' preference for light and energy-efficient vehicles rises and is expected to exceed $5 billion by 2024. OEMs are increasingly reducing the weight of cars and more cost-effective solutions. Demand may have a positive impact on regional growth. Strict government requirements, such as 'CAFE standards', regarding CO2 emissions and fuel economy requirements, have led OEMs to pursue alternative methods to reduce vehicle weight and improve fuel efficiency.
The main polymer materials used in the manufacture of automobiles include PU, ABS, PMMA, P VC and PP. The standardization and retentivity of plastic materials will be a huge challenge that may affect the development of the industry.
According to the top-grade report, the German automotive plastics market may reach a growth rate of nearly 8.5% during the forecast period. The growth of the automotive industry, the emergence of major industry giants, and innovation and market strategies will increase production demand in the region. Manufacturers are putting increasing pressure on them to reduce greenhouse gas emissions to meet EU standards, and investment in research will drive industry growth in the region.
The demand for PVC materials in the automotive plastics market may exceed $1.9 billion during this time period, mainly for body base coatings, plastic closures, doors, seats, dashboards, handrails, window seal profiles, weather strips and body sides. Protection. Increased concerns about environmental issues at the carbon emission perspective, coupled with increased consumer safety awareness, may be a factor driving industrial growth.
The demand for polypropylene (PP) in the UK automotive plastics market is likely to increase by about 9% during the expected period. This product should be used in a wide range of cable insulation, petrol cans, carpets, battery cases and bumpers. PP is 15% lighter than other materials. Up to 20%, thus reducing carbon dioxide emissions and achieving lower fuel consumption.
As passenger car production increases and consumers are willing to spend on fashion cars, by 2024, the Indian automotive plastics market is expected to use more than 3.8 million tons of electronic components. The Indian government encourages foreign direct investment in the automotive industry and plans Investing in environmentally friendly vehicles in the future, thereby promoting the growth of the automotive plastics market.
BASF, Delphi, Celanese, DSM, Evonik, SABIC, RTP, Lear, Borealis, Andorra and Shaped are all key industry players in the automotive plastics market. These companies are focusing on Invest in R&D activities to meet government standards and strengthen product portfolios by forming joint ventures and partners.