Studies predict that automotive demand for thermoplastics will enjoy a compound annual global growth rate of almost 8% to 2025 due to the lightweighting of both internal combustion and electrically-driven vehicles.
Demand for thermoplastic solutions, according to research published by MarketsandMarkets and Research and Markets, among others, is growing due to its properties such as recyclability, fast processing, ability to mold and remold, and stability under high temperatures.
