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Home | News |Record US vehicle age good news for petrochemicals
Record US vehicle age good news for petrochemicals
Updated: 2013-08-07 15:03 Source: PUWORLD share:

The average age of American cars is at an all-time high and that is good news for petrochemicals such as acrylonitrile and polycarbonate, sources said Tuesday.

"It means that we'll be seeing good demand for new cars for some time to come," said one source that sells nylon and polycarbonate to the automotive industry. "That's good news for our industry (petrochemicals), as more and more auto parts are made of plastics and other light-weight materials." 

According to a recent R.L. Polk survey of 247m US cars and light trucks, the average age of vehicles is at a record high 11.4 years, up from 11.2 years a year ago and 10.6 years in 2010. The figure has been rising every year since 2002, when the average age of the US fleet was 9.6 years, the survey firm said in a press release.

US automakers are expected to produce about 16m vehicles in 2013, its best year since 2007. The auto industry demands acrylonitrile, acrylonitrile-butadiene-styrene, polycarbonate, nylon and other petrochemical-based plastics and rubbers for auto parts. Key producers of some of these products include Bayer Material Sciences, Ineos, Honeywell, SABIC, Styron and Styrolution.

 

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