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CEO Predicts Annual 5.2% Growth in Automotive Industry Plastic Parts Market

CEO Predicts Annual 5.2% Growth in Automotive Industry Plastic Parts Market
(Wednesday, May 3, 2023) 11:52

TEHRAN (NIPNA) -- Buick Alimoradlu, the CEO of Bahman Group, has predicted that the consumption of polymers in the automotive industry will grow by 5.2% annually.

He announced that the volume of the market for plastic parts in the automotive industry will reach $43.44 billion by 2030. Alimoradlu disclosed this information during the "Marketing and Downstream Applications" meeting at the Iranian Petrochemical Forum on Tuesday.

According to Alimoradlu, the plastic parts market of the automotive industry in 2021 was around $29.5 billion. The CEO stated that ABS, PP, PVC, polyethylene, and polycarbonate are among the petrochemical products used the most in the automobile industry.

Alimoradlu also noted that petrochemical products play a significant role in the production of parts and components for the automotive industry.

Bahman Group is a leading Iranian manufacturer of automotive products, including spare parts, and has made significant contributions to the Iranian automotive industry.

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