According to a report presented by wiseguyreports, the Automotive Plastics Market is expected to reach $48.8 billion by 2022 growing at a CAGR of 14.7% during the forecast period 2015 to 2022. Rapidly growing automobile market, enhancement in vehicle design to reduce weight and emission control and Technological innovations are the key factors fueling the market growth. However, high cost of these materials is one of the major factors hampering the market. Improvement of new materials such as lighted PP and biodegradable plastics is anticipated to create ample of opportunities for the players in the market.

Underlining the major markets, Hexa Research mentions Asia Pacific is major regional market for automotive plastics. The market in the region is characterized by huge domestic automotive manufacturing industry and growing demand for automotives in emerging markets of India and China.

Considering this, The ET Polymers, a premium magazine for plastics and polymers industry, is organising Global Conference of Plastics in Automotive. This knowledge-based networking platform will be held on September 22 at Mumbai. For more information on the same, please log on to http://gcpa.themachinist.in/

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