Automotive Plastics Market To Reach USD 68.5 Billion By 2025
“The global automotive plastics market is expected to reach USD 68.5 billion by 2025. Global recovery in the automotive sector, improved vehicle design capabilities and the increasing importance of weight reduction and emission control are key factors driving industry growth�
The global automotive plastics market is expected to reach USD 68.5 billion by 2025, according to a new report by Grand View Research, Inc. The shift in trend towards high performance plastics to substitute conventional metals & rubber is expected to drive demand. The quality of plastics is highly dependent upon their properties, functions and applications. Superior properties such as light weight, versatility and flexibility has fostered technological innovations and design freedom using plastic materials. Streamlined mass production has enabled provision of technologically sound and costefficient products with high sustainability. Utilization of polymer matrix and carbon fiber composites are expected to enable car body-weight reductions of 25% to 75%. They contribute to lower vehicle weight, essential for emission reduction and fuel conservation while supporting the additional weight of advanced safety equipment.
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