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...