An outlook of Automotive Plastics Market growth is presented in this latest research report that reviews industry growth drivers, trends, regional factors & companies as well as provides forecasts for next few years.
Automotive Plastics Market 2017 to 2024, key industry players & growth trends: Global Market Insights, Inc. Automotive Plastics Market is set to surpass USD 50 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising passenger cars production along with consumer demand for fuel efficient, durable and light weight vehicles should stimulate automotive plastics industry demand. Rapid industrialization and urbanization in India, Japan, and China will propel the demand for commercial vehicles, SUV’s, modern cars and HMV’s. Rising per capita income and improving living standards will create demand for stylish and high aesthetics cars thereby stimulating industry growth. Automotive plastics are preferably used in various auto bodies and parts including chassis, power train, electronic components under the hood, exterior and interior furnishings and fuel systems. It is durable, scratch resistant, abrasion resistance, allows effective design molding, component integration and improves vibration and noise control in automobiles. Expanding manufacturing hubs along with government spending for advanced technology may contributes towards automotive plastics industry growth. Major raw materials, PU, ABS, PMMA, PVC, and PP are used in the manufacturing process of automotive plastics. Lack of standardization of plastic materials along with sustainability issues will be a major challenge and may impact industry growth. © 2018 Global Market Insights Inc. All Rights Reserved www.gminsights.com