Automotive Additives Market: Polypropylene (PP) to be Highly Preferred Plastic i

Posted by Arslan on February 20th, 2019

According to the latest report by Fact.MR, the automotive additives market is likely to experience above-average growth. The automotive additives market is estimated to reach US$ 8,251.8 million revenue by 2022 end. Manufacturers of automotive additives are focusing on developing highest performing solutions and with plastic emerging as the highest applied material in the interior, exterior and under the hood of the vehicle, automotive plastic additives are witnessing increased use in the automotive industry.

Increasing number of automotive manufacturers are using plastics in the car. This trend of using plastic is also increasing as it helps in reducing the weight of the car. Hence, automotive addictive manufacturers are producing anti-scratch additives that can be used for interior and exterior applications. Manufacturers are also significantly investing in order to increase the speed and reduce production time involved in additive manufacturing. Meanwhile, additive manufacturers are also trying to produce new additives that can provide protection against scratch by reducing the friction.

Increasing popularity of panoramic roofs in vehicles is also resulting in the heat and high UV light damaging the interior of a vehicle, hence light stabilizers are being provided to protect vehicle against UV rays. Using different materials for additive manufacturing can also open up possibilities for new design and for development of innovative end-products.

Browse Full report with TOC:

https://www.factmr.com/report/308/automotive-additives-market

North America is expected to dominate the global automotive additives market. Towards the end of 2022, North America automotive additives market is projected to exceed US$ 2,000 million revenue. Presence of the major market players and the increasing vehicle production are some of the factors fueling the growth of North America automotive additives market.

Europe is expected to be the second most lucrative market in the global automotive additives market. Europe automotive additives market is expected to witness steady growth during the forecast period.

Automotive Additives to Find Largest Application in the Interior of the Vehicle

Interior of the vehicle is likely to be the largest segment for automotive additives applications. Interior application of automotive additives is estimated to bring in nearly US$ 2,700 million revenue by 2022 end. Although automotive additives are also being used on the exterior of a vehicle. Hence, exterior application of automotive additives are likely to experience steady growth.