According to the research report titled ‘ABS Market for Automotive Plating on Plastics (POP) Application Size by Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report, ABS market for automotive plating on plastics (POP) application is expected to cross USD 2 billion by the year 2024.
 

Growing preference for lightweight and durable polymers is fostering the demand for ABS across the globe. ABS offers robustness and thermal stability. It is used for manufacturing of automotive parts such as fuel covers, mirror covers, emblems, car door handles, wheels, grills and bumpers, which in turn is driving the ABS industry for automotive POP (plating on plastics) application.
 

Based on the application spectrum, mirror covers segment is presumed to expand with a CAGR of 6.5% during 2018-2024. ABS is used for producing mirror covers as well as to give a glossy finish. Increasing awareness pertaining to road safety has impelled the usage of mirror covers in automobiles, hence boosting the demand for ABS for POP.
 

The report states that China ABS industry for automotive POP (plating on plastics) application from car door handles segment is expected to cross USD 40 million by the year 2024. The growth is attributed to strict government regulations pertaining to carbon footprint reduction which in turn has compelled automakers to reduce the overall weight of the vehicle. Being a lightweight polymer, ABS is used to produce car door handles, hence minimizing the kerb weight.
 

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As per the report, emblems application segment of Germany ABS industry for automotive POP application is presumed to expand with a CAGR of 6.5% through 2024. High concentration of major automobile manufacturers and evolving standards of living have increased the sales of premium vehicles of significant companies.
 

Meanwhile, bumpers segment of Canada ABS market for automotive POP application is predicted to exceed USD 2 million by the year 2024. Increasing trade activities between Canada and U.S. have enhanced the adoption of heavy vehicles.
 

The report cites that Italy ABS market for automotive plating on plastics application from trims segment will witness a growth rate of 5.5% between 2018 and 2024. Increasing utilization of electric vehicles have impelled the demand for high strength and lightweight components.
 

The prominent stakeholders are OTIS TRADA, Omni Plastics, ELIX Polymers, Trinseo, Otto Klumpp, OJSC Plastic, SABIC, INEOS Styrolution, Preferred Plastics and Retlaw Industries.