INDIA (PR Buzz), December 3, 2015 -- MarketStudyReport.com is pleased to introduce a report on Global Automotive Plastics Market.
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Global Automotive Plastics Market is expected to grow at a CAGR of 13% during the forecast period. Revival in vehicle production will be the major factor boosting the demand for automotive plastics. Growing demand for vehicles from emerging economies such as China, India, and the Latin American countries will also drive the market growth. Asia Pacific region has dominated the overall market share of Automotive Plastics in terms of volume as well as revenue in 2013, followed by Europe.
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Automotive Plastics have a lot of unique and useful properties such as toughness, durability, recyclability, thermal stability, resilience, resistance, design flexibility and light weight. They are primarily used in automobiles in the interior, exterior and engine components, to reduce the total weight of the vehicle and thus increase the fuel efficiency. It also improve aesthetics, reduce noise and vibrations, cabin insulations etc.
Among the different types of automotive plastics, polypropylene (PP) accounts for 35% of the global consumption, followed by polyurethanes (PU) (17%). Acrylonitrile butadiene styrene (ABS) and polyvinyl chloride (PVC) are the other major plastics in great demand in automobile manufacturing. There is an increasing demand for biodegradable varieties such as Starch-based, PHA-, PLA-, PCL-, and PBS-based plastics.
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The global automotive plastics market is segmented by product (Polypropylene, polyurethane, Acrylonitrile butadiene styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene (PE), Polymethyl Methacrylate (PMMA), High Density Polyethylene (HDPE) and Polycarbonate (PC)), by application (Automobile interior, Automobile exterior, under the hood and electrical components) and by geography (North America, South America, Europe, Asia-Pacific and Rest of the world). Some of the key players in this market are Bayer MaterialScience, DuPont Engineering Polymers, BASF Corporation and Lanxess Corporation.
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