The use of plastics in the production of light vehicles is continuing to grow, with more than $18.1bn worth of finished automotive plastic products incorporated into vehicles assembled in the U.S. and Canada last year, the American Chemistry Council (ACC) said.
Since 2009, global production has increased by about 25 million units, according to KPMG, and estimates put the current revenue for the auto industry at more than $2tr. Many analysts estimate that about 4 to 5 million new cars and light trucks will be in use each year in the near future. This isn't just good news for automakers - chemical manufacturers will also see a boost because of how the two industries are linked.