The global automotive headlamp lens cover marketis expected to grow at a CAGR of close to 3% during the period 2018-2022, according to a new market research study by Technavio
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Technavio has published a new market research report on the global automotive headlamp lens cover market from 2018-2022. (Graphic: Business Wire)
The report presents a comprehensive research of the global automotive headlamp lens cover market by product that includes glass and plastic. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: rising preference for composite plastic for manufacturing automotive headlamp lens cover
Composite plastics are being chosen to manufacture automotive headlamp lens cover. Plastic automotive headlamp lens cover reduces the chances of breakage, reduces weight, and improves visibility. Polymethyl Methacrylate (PMMA) and PC are the frequently used composite plastics for manufacturing automotive headlamp lens cover. Both these plastics have merits and demerits. PC plastic has more flexibility and is softer. Therefore, it can be easily molded into the desired shape. However, PC plastic is sensitive to ultraviolet radiation and abrasions. This causes the material to oxidize up to a haze value of 30%. OEMs are treating PC plastic with an ultraviolet inhibitor to reduce the haze value to about 5%, thereby making them more reliable.
According to a senior analyst at Technavio forautomotive components research, "PMMA plastic has a higher degree of resistance to ultraviolet radiation that is experienced during daytime driving. The haze value for PMMA plastic is estimated to be less than 5% even after three years of use. But, the material has very less tolerance to abrasions, which increases the risk of breakage. Thus, PMMA plastic is used in signal lights and other secondary light sources."
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Market trend: use of multilayer injection molding technique for manufacturing automotive headlamp lens cover
The multilayer injection molding technique comprises the injection of two resins into a mold. The core material is instantaneously pushed through the nozzle or injection gate into the mold. This technique creates a three-layered product in the time taken to make a single-layer product. Automotive headlamp lens cover is manufactured with multiple layers. Conventional technology needs more manufacturing time as every additional coating on the automotive headlamp lens cover requires more time to cool and solidify over the headlamp. Thus, the multilayer injection molding technique is being preferred for manufacturing plastic automotive headlamp lens cover because it reduces the overall time taken to manufacture a unit by allowing the coating to cool at the time of injection.
Market challenge: fluctuation in crude oil prices affecting procurement cost of PC plastic
Plastic compounds are usually derived from organic materials such as crude oil. Various other natural substances from which plastic can be made are natural salt, natural gas, coal, and cellulose. However, crude oil is extensively used for producing plastic. Therefore, fluctuating crude oil prices could affect the stability of plastic production cost during the forecast period.
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