Demand for automotive plastics to top £12bn by 2016
By PRW Staff
Posted 20 February 2013
The automotive plastics market is projected to reach $18.9bn (£12.3bn) by 2016, primarily as a result of materials changes used in the manufacture of interior and exterior furnishings, electrical components, powertrains and engines.
The ‘Automotive Plastics – A Global Market Watch, 2011 – 2016' report from Research and Markets shows that the fastest compounded annual growth rate (CAGR) of 10% is anticipated from Asia-Pacific region during the analysis period, 2011-2016.
The Americas follows Asia-Pacific with a CAGR of 9.4% while the Europe forecasts a growth rate of 5.9%. Among the end-users the powertrains market is the fastest growing segment, followed by engine and electrical components.
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