The automotive plastics market is projected to reach US$40.1 bln by 2020, at a CAGR of 10.9% between 2015 and 2020, as per MarketsandMarkets. The automotive plastics market for passenger cars is mainly being driven by their potential for maximum mass reduction of automobile and carbon emission reduction potential by decreasing the weight of the vehicle. The key factors restraining this market include high material cost and requirement of huge investment in material research activities. The utilization of new advanced materials in automotive designs requires new manufacturing technologies and also their utilization in manufacturing those new components involves process re-engineering which incurs huge capital cost. The opportunities for automotive plastics market for passenger cars development of new materials such, as reinforced composites and PMMA
Polypropylene is the key product type of automotive plastics followed by polyurethanes and polyvinyl chloride. Polypropylene is the largest segment and accounts for more than 30% share of the automotive plastics market. The Asia-Pacific region dominated the demand for polypropylene type of automotive plastics, followed by Europe and North America. The polycarbonates segment is projected to witness the highest CAGR of 12.4% between 2015 and 2020
Interior is the key application of automotive plastics for passenger cars followed by exterior and under bonnet. Interior is the largest application in the automotive plastics market and accounts for more than one third share of the said market. The Asia-Pacific region dominated the market for interior application of automotive plastics, followed by Europe and North America. The exterior application is projected to witness the highest CAGR of 12.4% between 2015 and 2020
07-Aug-15 
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