Brazil Automotive Plastics Market Outlook

brazil is one of the important markets for automotive plastics and is expected to be the fastest growing organic automotive plastics market over the forecast period from 2018 to 2032. the country has a huge customer base, and the automotive industry has been making significant strides in the past few years, with the light vehicle sales expected to reach 6.5 million vehicles by 2022. the brazilian automotive plastics market is expected to be driven by increasing light vehicle sales, coupled with the rising demand for environment-friendly lightweight plastics. furthermore, government initiatives to promote the use of plastic in automotive components will also have an impact on the market. additionally, the rising significance of recycling and remanufacturing of plastic materials for sustainable production, and the burgeoning applications of alternative materials such as aluminum and carbon fiber in the automotive sector, will result in increased demand for automotive plastics in the country. in addition, the government is also formulating new policies that are expected to drive the brazilian automotive plastics market over the forecast period. for instance, brazil’s fast-track solution to reduce vehicle emissions, ‘proconve’ (programa de controle de poluicao de veiculos automotores), requires up to 5% recycled materials in car parts and components. this policy is expected to create a huge market for automotive plastics over the next few years. however, the brazilian automotive plastics market is facing certain challenges, such as high prices and intense competition from pellets imported from countries in asia. the slow economic recovery in the country can also pose a challenge to the market growth. overall, the brazilian automotive plastics market is expected to experience a healthy growth over the forecast period. the factors such as increasing light vehicle sales, government initiatives to promote the use of plastics, and the rising significance of recycling plastic materials are expected to drive the domestic automotive plastics market in brazil.