In the efforts of making the vehicle lighter and efficient, automotive components made of plastics are playing an important role and hence its market is ever growing. According to a recent report released by Hexa Research, Global automotive plastics market is expected to grow on account of increasing preference for plastics as a substitute to metals in automotive components. Automotive plastics are widely used in motorcycles, passenger cars and heavy vehicles with an aim to reduce the overall weight of automobiles. Reduction in weight significantly improves fuel efficiency of vehicles. This trend is expected to fuel the demand for automotive plastics over the forecast period.

Supporting this trend is government regulations regarding improving fuel efficiency and reducing the weight of vehicles. Increasing demand for passenger cars on account of increasing income levels in emerging markets across the globe is expected to fuel automotive production. This in turn is expected to drive the demand for automotive plastics. Plastics are ideal materials to reduce noise and vibrations in automobiles. Increasing preference for sophisticated automobiles is expected to boost the demand for automotive plastics for such applications. Improving aesthetics and reducing the overall cost of product has driven manufacturers in the market to adopt plastics owing to its cost effectiveness compared to metals and alloys. This is expected to have a positive impact on the market.

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