New York, USA, July 13, 2022 (GLOBE NEWSWIRE) — Automotive Plastics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Plastics Market Information by Type, Application, and Region – Forecast till 2030”, the market is estimated to grow at a 4.4% CAGR to reach USD 38.7 Billion by 2030.
Market Synopsis
Automotive plastics refer to materials that are utilized in the production of various vehicular components. These plastics offer properties that are quite similar to that of metals used in automobiles. The major properties of automotive plastics include toughness, abrasion resistance, flame retardancy, and stiffness. The flexibility, as well as versatility, are some of the impressive characteristics of these plastics, which boost technological innovations and lead to better automobile designs.
Polypropylene is a popular automotive plastic that finds application in both flexible and rigid packaging due to its excellent chemical and physical properties. Other than this, it provides impressive electrical and chemical resistance to extremely high temperatures. It is quite lightweight in comparison with other types of plastics, which makes it perfect for use in the automotive sector.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 38.7 Billion |
| CAGR | 4.4% (2022–2030) |
| Base Year | 2022 |
| Forecast Period | 2022–2030 |
