New York
City, 29 January 2019: The global Automotive Plastics Market is anticipated to
witness significant growth over the forecast period due to factors such as
rising pressure to reduce vehicle weight, favorable regulations coupled with
the rising sales of passenger cars. Flexibility in design, inherent properties
such as corrosion resistant, dust proof are also expected to benefit the automotive
plastics market growth. Design engineers are integrating blow molded as well as
injection molded plastic parts in their designs that offer a better design
without the complicated assembly work. Plastics are also being increasingly
used in the structural design of cars as well. This industry is closely working
with the automotive industry to provide enhanced design features.
Plastics
have facilitated the increase in vehicle compatibility, and including more
safety dimensions in less space as well as improving the safety belt designs.
Such trends have led to a rise in demand for automotive plastics across globe.
Safety advances have been made affordable due to the usage of these
high-performance materials in automotive interiors.
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Automotive
plastics are used in vehicle exteriors as they impede roof crash. Resist the
intrusion of vehicles, and contribute in the reduction of the vehicle weight
with almost no compromise on safety. They are used in a wide variety of
exterior applications ranging from bumpers to body panels. Such wide
applicability has benefitted the global automotive plastic market demand.
Companies
are involved in the research and development activities for developing new
materials for usage in the vehicle industry. Thermoplastic material blends,
light weight PP, bio-based materials are some of the examples of the ongoing
R&D activities. Manufacturing techniques such as multi-level extrusion for
reduction of permeability are being used to manufacture plastics for specific
needs.
Competitive Landscape and Key Vendors:
Vehicle mass
reduction is one of the key paths to achieve increased fuel efficiency. Plastic
in combination with polymer composites aid in this effort. They are being
increasingly used in vehicle interiors, exteriors, and lighting to reduce the
overall vehicle weight. Government or privately funded mass reduction studies
have pointed out the usage of these materials and their importance in cutting
down emissions. Thus, favorable regulations along with initiatives taken by
government as well as private institutions is bound to benefit the automotive
plastics market demand over the next few years.
Companies
are developing products that aid automotive manufacturers to reduce the vehicle
weight, reduce emissions, as well as increase safety. Customized products
suitable for applications such as retainers, central stack, housings, rails,
sliding, brackets, housing, levers as well as frames are being provided by
companies. Some of the major market players for automotive plastics include
Akzo Nobel NV, Evonik Industries AG, BASF SE, Covestro AG, Koninklijke DSM NV,
The Dow Chemical Company, Teijin Limited, LANXESS, Solvay, and LyondellBasell
Industries Holdings BV.
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