The Plastics Market Watch Report – Watching: Transportation released by the Plastics Industry Association (PLASTICS) highlights an increased demand for plastics in a number of modes of transportation around the world.
According to the report, the recent trends in innovative transportation include: propulsion/electric vehicles (EV), autonomous or self-driving vehicles, connected vehicles and shared transportation. These overarching trends are interconnected by technology, investments and industry leaders.
“Due to current trends, we expect for plastics to become a solidified material in transportation vehicles and other technologies,” said PLASTICS’ chief economist, Perc Pineda, PhD. “Considering that demand for transportation is not going away anytime soon, plastics will remain a viable material in the transportation space,” Pineda added.
The report highlights insights from industry innovators and thought leaders from companies including GM, Tesla and Audi. Plastics’ role in the automotive and transportation sector has been growing for years, which was why PLASTICS created the Transportation and Industrial Plastics (TIP) committee in 2015,” said PLASTICS’ Interim president and chief executive officer Patty Long. “TIP has grown in membership and in stature to include some of the most important voices in this increasingly important sector for the plastics industry. Its contributions were vital to creating this most-recent Plastics Market Watch report, which shows the sky continues to be the limit for plastics in transportation.”
Since 1970, the use of plastics in aviation has quadrupled which makes the airline industry a key market for plastic. Nylon will also play an important role with the electrification of vehicles because it is strong, lightweight, very durable and resistant to damage. It contributes to reducing the weight of a vehicle by 50 percent.
The report is available for download to members and non-members, accessible at: https://www.plasticsindustry.org/data/plastics-market-watchplastics-market-watch
Published in the March 2019 Edition