The environmental dilemma caused by reaching high levels of greenhouse gas emissions in the atmosphere is one of the major drivers for the market studied. Also, the dumping of non-degradable waste in landfills and oceans is harming the environment. Additionally, the fluctuation in oil prices and the change of laws in the usage of petroleum-based plastics have helped accelerate the demand for these biodegradable compounds. Major challenges, such as climate change, energy security, food security, rising human population, and global economic meltdowns, have increased the need for sustainable economic growth that may not have a negative impact on the environment. In this regards, one of the major issues faced by the world remains the replacement of toxic releasing and non-biodegradable polymer.  In order to curb land and air pollution caused due to non-biodegradable plastics, governments across the world have come up with numerous regulations and policies regarding the use of conventional synthetic polymers. Further, they have been promoting the use of eco-friendly and biodegradable materials for the production of polymers.  These polymers are derived from starch, making it a perfect biodegradable replacement for petroleum or fuel-based polymers. Biopolymers are non-toxic and are easier to recycle. Hence, they take less time to break down, which helps in the protection of the environment.

The report incorporates the study of the automotive tire that focuses on the seasonal tires, rim size used by each vehicles, and the channel through which the tires are operated in the business. A rubber tire is a component fitted around the rim of a wheel to transfer the load of a vehicle from the axle to the ground. Majority of the tires are pneumatically inflated to offer a flexible cushion with shock absorption when the tire travels over a rough surface. Moreover, automobile manufacturers are inclining toward electric and alternative fuel vehicles due to implementation of vehicle emission regulations. The rise in production of commercial and passenger cars along with the new advanced technology creates a demand for the tire business globally. For instance, Bridgestone came up with new innovative tires “Ecopia EP500 ologic”. These tires are based on “Ologic technology” which uses synergies of large diameter in conjunction with smaller width. Furthermore, this solution improves fuel efficiency by reducing rolling resistance and environmental impacts. In addition, the Continental started offering different categorized tire as their product such as winter, all seasoned and summer to boost the sales of tire in the global market.

The environmental dilemma caused by reaching high levels of greenhouse gas emissions in the atmosphere is one of the major drivers for the bioplastic market, as Bioplastics help to reduce the dependency on fossil resources, reduce greenhouse gas (GHG) emissions, and increase resource efficiency. Plastics takes about 100 years to decompose, then plastics lies in landfills for very long period. Whereas, bioplastics produced from plant biomass, such as corn starch, sugar cane or wheat, and can be break down or decompose and are absorbed back into the environment. The rate of decomposition of biodegradable bioplastics by the activities of microorganisms is faster than that of traditional plastics. For instance, starch-based bio plastics break down by approximately 65% within three months. This, in turn offers positive impact on the environment, as biopolymers are non-toxic and are easier to recycle. Hence, they take less time to break down, which helps in the protection of the environmentFurthermore, major challenges, such as climate change, energy security, food security, rising human population, and global economic meltdowns, have increased the need for sustainable economic growth that may not have a negative impact on the environment. In this regards, one of the major issues faced by the world remains the replacement of toxic releasing and non-biodegradable polymer. to control air pollution produced due to non-biodegradable plastics, governments across the globe introduced various regulations and policies. Furthermore, governments are encouraging the use of eco-friendly and biodegradable materials for the manufacture of polymers.

Automotive trims are the plastic components installed in the vehicle to provide a better look and features to the vehicle. Numerous components such as front & rear bumpers, dashboards, and similar others installed in a vehicle describe different trims, which have a wider application in a vehicle. The automotive trims market has witnessed significant growth over the years, owing to increase in trend vehicles, which are equipped with light weight components to increase the efficiency of the vehicles. The automotive trims market is segmented into material type, interior application, exterior application, vehicle type, end use, and region. By material type, the market is categorized into acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyoxymethylene (POM), thermoplastic elastomer (TPE), and others. By interior application, it is classified into dashboards, door panels, and several other components. By exterior component, it is divided into bumpers, window & door seals, and others. ICE passenger vehicle, ICE commercial vehicle, battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV) are the different types of vehicles studied in the global market. Original equipment manufacturers (OEMs) and aftermarket are the different end users of the automotive trims. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Liquid crystal polymer (LCP) is a super engineering plastic, with a combination of high strength, modulus and impact proper ties, flame retardance, resistance to a wide range of aggressive chemicals, very low and tailorable coefficients of thermal expansion (CTE), excellent dimensional stability, thin-wall flowability, and unique processability. This balance of characteristics is the main reason for electrical and electronics applications to have one of the major commercial end uses for these thermoplastics. With the miniaturization trend of many electronic products,manufacturers are streamlining devices to pack more features into smaller packages. For instance, the pitch (spacing) between contacts in electrical connectors is narrower than ever before, and as small as 0.2 mm, when compared to older-style power connectors, with pitches exceeding 12.0 mm. Nominal wall stocks have also thinned considerably, as the overall size of connectors has shrunk. These thin-wall designs pose a challenge during the injection molding of micro connectors for devices, such as iPads, robots, computers, cell phones, and satellites. A suitable material must withstand reflow soldering without distor ting, melting, or blistering, and (LCPs) prove to be the much-needed ticket when compared to other traditional polymers. For the same reasons, LCPs are also injection molded into integrated circuit (IC) sockets, high-frequency (HF) network switches, power modules for wind and solar inverters and converters, custom high-power electrical connectors, and many other precision devices.

Increasing security concerns in almost all the nations across the world is a major driving factor for long fiber in the defense sector. This, coupled with rising threats from various anti-social organizations for countries, such as the United States, India, etc., is further driving the demand for the market studied in the defense sector. Conventionally, thermoset-based composites are used as alternatives for various structural metal-based parts in military equipment manufacturing. In defense applications, fiber-reinforced thermosets are well known composite structures. However, thermoset materials have limitations, like resistance to hydrolysis and poor structural performance in fire regardless of their good flammability resistance when compared with that of thermoplastics. The above-mentioned factors are quite instrumental in impacting on the consumption of thermosets, which are ultimately going to drive the growth prospects of the thermoplastics market over the forecast period.

According to Composites UK, the usage of composites is growing and the global market for composite products is expected to reach USD 95 billion, globally, by 2020. Increasing need for lighter weight and durable products is increasing the penetration of composites in major industries, such as aerospace, transportation, construction, and wind energy in the global market. However, around 40% of the total production of composites ends up being wasted. They are either dumped as scrap or can be found as defective parts. Apart from the waste generated from production, much of the waste is also generated from end-of-life usage of products. According to various industrial sources, around 12,000 commercial aircraft are due to reach the end of their useful life in the next two decades, and approximately six million cars are scrapped each year, globally. Moreover, in the wind turbine industry, approximately 20% of the composite fabrics used in the manufacture of rotor blades are generally discarded during the production process. Such developments are expected to increase the amount of composite waste generated by these industries significantly.