Global automotive plastics market to reach $32 billion by 2018

By Rhoda Miel
News Editor

Published: March 28, 2013 3:32 pm ET
Updated: March 28, 2013 3:33 pm ET

Related to this story

Topics Automotive, Materials, Materials Suppliers

ALBANY, N.Y. — A New York research firm estimates that the global automotive plastics market could reach $32.9 billion by the end of 2018, up from $15.1 billion in 2012.

Transparency Market Research of Albany said in its new report that the demand for growth will come from both expanding auto production in Asia and plastics use in existing markets to decrease vehicle weight.

In 2011, the Asia Pacific region was responsible for 50 percent of the total auto plastics consumption by volume, the research company said in a March 28 press release. With demand for new cars in developing regions only expected to increase, demand for auto plastics will also build.

Polypropylene is the most widely used plastic in the auto industry, the research group said, and is likely to remain at the top of the list through 2018.

Polyurethane, ABS, PVC and polyethylene round out the top five.

Electronics, interior and exterior trim account for almost 70 percent of all plastics used in the auto industry, although new developments for under-the-hood parts are likely to drive more interest in the future.


Comments

Global automotive plastics market to reach $32 billion by 2018

By Rhoda Miel
News Editor

Published: March 28, 2013 3:32 pm ET
Updated: March 28, 2013 3:33 pm ET

Post Your Comments


Back to story


More stories

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

SRG opens second China auto parts factory

October 24, 2014 11:25 am ET

U.S. automotive supplier SRG Global Inc. said Oct. 23 it is opening its second plant in China, an injection molding, plating and painting facility in ...    More

Image

BASF pre-tax earnings rise, but will miss financial targets for 2015

October 24, 2014 10:16 am ET

BASF SE has raised its expectations for pre-tax earnings in 2014 but warned that it would not hit its financial targets for next year.    More

Image

Sabic, Shell cancel expansion for SADAF joint venture in Saudi Arabia

October 24, 2014 9:19 am ET

Saudi Basic Industries Corp. and Royal Dutch Shell have cancelled plans to expand an existing petrochemical joint venture in Saudi Arabia following...    More

Image

Sadara CEO says Middle East now has 20 percent of global ethylene capacity

October 24, 2014 9:33 am ET

Sadara CEO Ziad Al-Labban claims that the Middle East's ethylene capacity is now 20 percent of global production.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events