The sector has been showing a steady growth since the summer.
New car registration figures increased in the EU in September, with numbers 3.1% higher versus September last year.
The recent data from the The European Automobile Manufacturers’ Association (ACEA) show that the sector continues to recover.
The total number of units in September 2020 are 933,987 and 2019 are 906,197.
Moreover, this is the first increase seen this year.
This trend is also consistent with market feedback from the polymer industry.
Many market participants have noted a pickup in the sector since August, which continues in October.
But for many, activity is still below pre-pandemic levels.
The automotive sector has been one of the worst-hit market segments for the polymer industry.
At the height of the pandemic, some suppliers to the industry reported running their machines at 30% of capacity. While some had to completely shut down their plants.
However, the picture has changed since the summer.
In fact, for some polymers, such as PA6/PA66, demand is increasing too fast and could soon lead to supply shortages.