Global automotive plastics demand grows 8% annually

The increase in global passenger vehicle production and the trend toward lighter weight are driving the growing demand for automotive plastics. According to statistics, in all automotive plastics, the proportion of polypropylene up to 37%; followed by polyurethane, accounting for 17.3%; ABS resin accounted for 12.3%; composite materials accounted for 11.5%; high-density polyethylene accounted for 10.8%; Carbonate accounted for 6.8%; polymethylmethacrylate accounted for 4.4%. As of 2012, the Asia-Pacific region has become the largest consumer market in the world leading automotive plastics, accounting for 50.5%; followed by Europe 28%, North America 11.3% and the rest of the world 10.1%. Automobile manufacturers such as Toyota Motor, Hyundai Motor, Mitsubishi Motors, General Motors, Honda Motors, and Peugeot are among the top companies. The global passenger vehicle production is expected to increase from 63.1 million units in 2012 to 94.4 million units in 2018, with an average annual growth rate of 6.9%, while the average annual growth rate in the Asia-Pacific region is even higher, reaching 8.6%. Global automotive plastic consumption is expected to increase from 7.1 million tons in 2012 to 11.3 million tons in 2018, with an average annual growth rate of 8%.

Automotive plastics are widely used in interiors, exteriors, car hoods, and other components to help reduce overall vehicle weight, aesthetics, and control vibration and noise, body warmth, and other functions.