{"id":10676,"date":"2022-08-01T09:21:00","date_gmt":"2022-08-01T09:21:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3830494_AE30494_0"},"modified":"2022-08-01T09:21:00","modified_gmt":"2022-08-01T09:21:00","slug":"global-automotive-plastics-market-boosted-by-the-need-to-minimize-co2-emissions","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=10676","title":{"rendered":"Global Automotive Plastics Market Boosted by the Need to Minimize CO2 Emissions"},"content":{"rendered":"<p><b>The global automotive sector will inflate the demand for sustainability targets to minimize CO2 emissions in the next 3\u20135 years, says Frost &amp; Sullivan<\/b><\/p>\n<p><span class=\"xn-location\">SAN ANTONIO<\/span>, <span class=\"xn-chron\">Aug. 1, 2022<\/span> \/PRNewswire\/ &#8212; For every kilogram reduced from a vehicle&#8217;s weight, plastics reduce a car&#8217;s carbon dioxide (CO2) emissions by approximately 20 kg during its operating life cycle. The stringent regulations for OEMs to meet sustainability targets will drive the automotive plastics sector. Frost &amp; Sullivan&#8217;s recent analysis, Global Automotive Plastics Growth Opportunities, finds that original equipment manufacturers (OEMs) need for lightweight materials expedites the automotive plastics industry. This market will likely reach <span class=\"xn-money\">$45.07 billion<\/span> by 2028 from <span class=\"xn-money\">$31.29 billion<\/span> in 2021, an uptick at a compound annual growth rate (CAGR) of 5.3%.<\/p>\n<div id=\"prni_dvprnejpg4ffeleft\" dir=\"ltr\"> <a href=\"https:\/\/mma.prnasia.com\/media2\/1868632\/Frost_Sullivan_Global_Automotive_Plastics_Market.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" id=\"prnejpg4ffeleft\" title=\"Global Automotive Plastics Market Boosted by the Need to Minimize CO2 Emissions\" src=\"https:\/\/mma.prnasia.com\/media2\/1868632\/Frost_Sullivan_Global_Automotive_Plastics_Market.jpg?p=medium600\" alt=\"Global Automotive Plastics Market Boosted by the Need to Minimize CO2 Emissions\" align=\"middle\"><\/a> <br \/><span>Global Automotive Plastics Market Boosted by the Need to Minimize CO2 Emissions<\/span> <\/div>\n<p><b>For further information on this analysis, please <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3607182-1&amp;h=3267973634&amp;u=https%3A%2F%2Finsights.frost.com%2Fpr_cmn_scuret_pd12_automotiveplastics%3Fcampaign_source%3Dpr&amp;a=click+here.\" target=\"_blank\" rel=\"nofollow noopener\">click here.<\/a><\/b><\/p>\n<p>&#8220;The transition to electric vehicles (EV) involves swapping conventional under-the-hood components, such as engine and fuel, for battery packs and other components,&#8221; said <b><span class=\"xn-person\">Brian Balmer<\/span>, <\/b><b>Polymers &amp; Composites Program Manager <\/b><b>at Frost &amp; Sullivan<\/b>. &#8220;This is expected to upend the demand for conventional plastics in under-the-hood applications and drive the need for other plastics for new EV applications and components.&#8221;<\/p>\n<p>Balmer added: &#8220;As sustainability and decarbonization are gaining prominence in the global automotive sector, the industry will inflate the demand for greener alternatives to minimize CO<sub>2<\/sub> emissions in the next 3\u20135 years. Due to this, established OEMs will collaboratively advance recycling technologies or acquire recycling companies to ensure supply security.&#8221;<\/p>\n<p>To reap the benefits of expanding the global automotive plastics industry:<\/p>\n<ul type=\"disc\">\n<li>Plastic producers offering PBT (Polybutylene Terephthalate) and PA (Polyamide) should<b> materialize gains<\/b> <b>by collaborating with OEMs<\/b> to develop and scale plastic-based components, especially battery housings.<\/li>\n<li><b>Resin suppliers should partner with component manufacturers<\/b> to develop recycled grades that ensure performance on a par with components made from virgin resin.<\/li>\n<li>To enable <b>autonomous vehicle<\/b> technology, plastics producers should ensure zero-to-minimal signal interference and seamless signal transmission and receipt.<\/li>\n<li>Polymer companies should create growth opportunities by developing hybrid or thermoplastic composites to <b>create lighter components<\/b> without significantly increasing costs.<\/li>\n<\/ul>\n<p><b>Global Automotive Plastics Growth Opportunities<\/b> is the latest addition to Frost &amp; Sullivan&#8217;s<b>, Chemicals, Materials &amp; Nutrition<\/b> research and analysis available through the Frost &amp; Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.<\/p>\n<p><b>About Frost &amp; Sullivan<br \/><\/b>For over six decades, Frost &amp; Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3607182-1&amp;h=3404454661&amp;u=https%3A%2F%2Fwww.frost.com%2Fcontact-us%2F%3Futm_campaign_source%3DPR%26utm_campaign_medium%3DWebsite%26utm_campaign_name%3DCampaign_Traffic_Acq&amp;a=Purchase\" target=\"_blank\" rel=\"nofollow noopener\">Purchase<\/a> from Store.<\/p>\n<p><b>Global Automotive Plastics Growth Opportunities<\/b><\/p>\n<p><b>PD12<\/b><\/p>\n<p><b>Contact:<br \/><\/b><span class=\"xn-person\">Nicole Ryder<\/span><br \/>Corporate Communications<br \/>E: <a href=\"mailto:Nicole.Ryder@frost.com\" target=\"_blank\" rel=\"nofollow noopener\">Nicole.Ryder@frost.com<\/a>&nbsp;<br \/><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3607182-1&amp;h=3513227479&amp;u=https%3A%2F%2Fwww.frost.com%2F&amp;a=https%3A%2F%2Fwww.frost.com%2F\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.frost.com\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The global automotive sector will inflate the demand for sustainability targets to minimize CO2 emissions in the next 3\u20135 years, says Frost &amp; Sullivan SAN ANTONIO, Aug. 1, 2022 \/PRNewswire\/ &#8212; For every kilogram reduced from a vehicle&#8217;s weight, plastics reduce a car&#8217;s carbon dioxide (CO2) emissions by approximately 20 kg during its operating life [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":10677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-10676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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