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backLATINtalk June, 2012
Mexico: Automotive industry demand for engineering plastics to hit US$1.3bn in 2017 - study
Demand for engineering plastics from Mexico's automotive industry is expected to grow at a compound annual growth rate of 9.6% from US$758mn in 2011 to US$1.31bn in 2017, according to a recent study by market research and consulting firm Frost & Sullivan.
One key factor driving demand for engineering polymers in the automotive sector in Mexico is the use of engineering polymers as an alternative to commodity plastics, metals and glass.
"In general, engineering polymers are more cost effective, versatile, resistant and lighter compared to traditional materials," Alessandra Lancellotti, Frost & Sullivan's chemicals, materials and foods Latin America business unit leader, told BNamericas.
"Making cars lighter and enhancing the motor performance allows for a reduction in gas consumption, reducing environmental impact," Lancellotti said, adding that increasing environmental concerns were also providing an added impetus to growth.
"The adoption of European regulations makes it even more important for the Mexican market to develop new environment-friendly polymers and applications."
The finding of new polymers applications and blends is another significant contributing force that is driving the market's growth, Lancellotti added.
The analyst, however, cautioned growth could be stymied by the fragile economies of Europe and North America where most of Mexico's car exports are destined, as well as possible future increases in the price of oil and raw materials for polymers.
Source: BusinessNewsAmericas - GAI
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