BRIC Automotive Plastics Market is expanding rapidly with LATI introducing LATICONTHER MI, a part of LATI thermoplastic compounds, for automotive applications


Automotive plastics is one of the fastest-growing sectors in the global plastics industry. Demand for automotive plastics will continue to rise as vehicles become more reliant on computers for power and control. One of the key factors aiding growth of the market is a rapid expansion of advanced plastics in the manufacturing of different automotive components. Advanced plastics refer to engineering plastics with higher tenacity, lighter weight as compared to conventional plastics for better performance. Recently, in July 2021, Faurecia, an automotive technology company, launched a new division to develop and manufacture cutting-edge sustainable and smart materials. Thus, such factors can stimulate growth of the BRIC automotive plastics market.

Automotive plastics are the core constituents of almost all sorts of automotive products, especially engines, transmission, brakes, etc. The term itself speaks for itself: Automotive plastics are those compounds that are used in the manufacture of automotive parts and components. They are also called synthetic plastics and play a crucial role in various industries across the globe. In fact, they are more popularly known as polymers, but the name has nothing to do with their functionality. Governments in many countries have started implementing stringent regulations on vehicular emission, which is encouraging automobile manufacturers to launch lightweight vehicles. As a result of this, the demand for lightweight materials including carbon fiber, advanced plastics, and aluminum has increased significantly. Hence, these factors can potentially augment growth of the BRIC automotive plastics market. Recently, in April 2019, LATI launched LATICONTHER MI, a part of LATI thermoplastic compounds, for automotive applications.

Automotive plastics have played a huge role, both in the development of the automobile industry as well as in the everyday life of a driver. The concept of lightweight plastic material was gradually adopted by the automotive industry. That being said, there are certain factors that continue to limit the potential growth of the said market. For instance, frequent price fluctuations in automotive plastics can be a major challenge due to volatility in the availability of raw materials. Besides, plastics are a bad conductor of heat and hence they cannot be used where high thermal conductivity is required. Thus, these factors can impede growth of the BRIC automotive plastics market.

Automotive plastics are widely used in the manufacture of bumpers, grilles, fenders, taillights, bumpers, and much more. They are generally made of high-quality polymers which are processed at very high temperatures under very strict and high-pressure conditions. However, consumer preference is shifting towards lightweight designs with advanced plastics being one of the prominent solutions. Advanced plastics can be molded to create attractive and advanced aerodynamic shapes. Thus, the demand for mid-segment passenger cars has increased, which could provide significant growth opportunities in the BRIC automotive plastics market in the near future.

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