China has become a hub for automotive developments. According to recent stats, about 24.5 million motor vehicles were produced in
China, accounting for about 27% of global vehicle production, and more than double the number produced in the second biggest market, the USA.
Therefore, participants at the global level are following the Chinese market for automotive plastics with a keen interest.
A number of factors are driving the demand for automotive plastics in China including:
- Chinese buying preferences towards expensive cars
- Tightened fuel efficiency and emission norms
- Government support for electric vehicles (EV) and hybrids
- And more…
Read on more to discover how developments in China’s auto industry are impacting global plastics market.