LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global plastics market for passenger cars industry is expected to grow at a CAGR of more than 9% during the forecast period.
This research report titled ‘Global Plastics Market for Passenger Cars Industry 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global plastics market for passenger cars industry into the following type of material based segments:
- Polyvinyl chloride
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The top three material based segments are discussed below:
Polypropylene is a thermoplastic polymer and it is used in many applications. In 2016, it occupied the largest market share. During the forecast period, it is expected to grow at the fastest rate. It is a saturated polymer that is formed by the addition polymerization of monomer propylene. Apart from being rugged, polypropylene plastic is resistant to several chemicals, bases, and acids. The properties of polypropylene can be further enhanced by additives such as long glass fiber reinforcements. It finds application in front and rear bumpers, chemical tanks, cable insulations, and carpet fibers.
According to Kshama Upadhyay, a lead analyst at Technavio for plastics, polymers, and elastomers research, “Automobile companies use ExxonMobil’s impact copolymer polypropylene resins in the exteriors, interiors, and underhood parts. Special consideration is given to haptic characteristics such as smoothness, grained effect, soft touch, and stiffness of the polypropylene materials to be used in passenger cars by Borealis. Almost 60% polypropylene is used in the new car model Teana by Nissan. To facilitate easy recycling, the company is trying to design parts in one single material.”
Polyurethane is an elastomeric material. It has very good physical properties such as toughness, flexibility, and resistance to abrasion and temperature. The hardness range of polyurethane can vary from it being soft as an eraser to as tough as a bowling ball. High load-bearing capacity, high flexibility, and high resistance to most of the solvents are some of its other benefits. It finds applications in flexible foam seating, hard plastic parts, electrical potting compounds, and elastomeric wheels and tires.
“BASF has improved the production process of Lupranol (polyether polyol). It is because the car components made from its polyurethane foam systems emit 20% less aldehyde on an average. Polyol is the starting material for BASF's polyurethane foam systems. Lubrizol Corporation offers Pearlbond TPU (thermoplastic polyurethane) that is a cost-effective formulation employed in automotive interior parts,” says Kshama.
High flexibility, high flame resistance, good thermal stability, high gloss, and very less or no lead content are some of the properties possessed by polyvinyl chloride. Polyvinyl chloride can be either rigid or flexible depending on the amount of plasticizer used. It can be injection molded, extruded, compression molded, or blow molded. Instrument panels, sheathing of electric cables, pipes, and doors are some of the areas of application of polyvinyl chloride. SCG Chemicals provides polyvinyl chloride resins for the automotive industry.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Royal DSM
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