4 FUTURE TRENDS FOR THE AUTOMOTIVE INDUSTRY
10% of a car’s construction is made up of polymers and this ratio is steadily increasing. To improve fuel efficiency and reduce carbon emissions, manufacturers are seeking ways to reduce car weight by replacing metal parts with polymer alternatives.
Considered an essential material in car manufacturing, Polymer’s properties compare favourably to metal in areas including strength and flexibility while also being easier to integrate into complex designs. Polymers are widely used in automotive interiors and exteriors, such as door handles, trunks, window panels, windshields and under the hood parts. These parts can be exposed to harsh working conditions caused by heat, vibration or emissions, such as gears, fuel systems and engine components.
The rise in popularity of electric vehicles is accelerating the growth of polymer use in the Automotive segment. The rigidity and flexibility of engineering polymers make them more suitable for E-vehicle performance and aesthetic needs.
According to market research from Fortune business insights, in 2019, the global automotive plastic industry was worth 40.91 billion USD, and in 2027, the market size is estimated to increase to 53.85 billion USD with a compounded increase rate of 5.3%.
As polymer usage is increasing in the Automotive market, here are some of the recent trends being experienced in the industry: