according to a new market report published by global market insights, inc., the india automotive plastics market size will reach usd 1,150 billion by 2032. automotive plastic parts are taking over the traditional automobile components such as traditional metal and glass, due to its light weight, flexibility, low cost, recyclability, high strength and resistance to corrosion. the rising demand for lightweight vehicle parts to meet the growing stringency in government fuel economy regulations will spur the growth of automotive plastics market. the government is providing impetus to the electric car sector, which will propel the automotive plastics market growth in the future. increasing demand for lightweight and high strength parts to meet the government fuel economy regulations have led to the growing use of plastics in automotive components such as body panels, fuel tanks, and air intake manifolds. furthermore, stringent government regulations on vehicle emissions will further fuel the demand for plastic components for enhanced performance of automobile parts. the growing demand for luxury automobiles will propel the automotive plastics market growth in the near future. the rising disposable income is fuelling the demand for luxury vehicles which has led to the increasing use of premium plastics in cars. the market players are investing significantly in r&d activities to produce better solutions for next-generation luxury vehicles. the price of automotive plastics is often expensive as compared to traditional metallic components. the rising cost of production of automotive plastic components is hampering the market growth. the automotive plastic market will experience significant growth in the coming years, owing to the increasing demand for lightweight vehicles from customers. the market players are adopting innovative technologies to manufacture lighter and more efficient automotive plastic components. the rising popularity of 3d printing and additive manufacturing technologies due to lightweight and durable plastic parts is anticipated to boost the automotive plastics market growth over the forecast period. other driving factors for automotive plastics market growth include rising demand for convenience in vehicles by modernizing automobile cabins. enhanced performance of battery cases, bumper bars, and door panels are playing a major role in the increased demand for automotive plastics. the growing trend of composite materials such as thermoplastic polyurethane (tpu) for steel and aluminium replacements, as well as for interior trim applications will further propel the automotive plastics market share.
