By most accounts, this year will be better for the automotive sector than 2021 when the industry lost about $210 billion in revenue, according to consulting firm AlixPartners. However, improvements may only be marginal as automakers and their suppliers continue to face product shortages.
One of the segments likely to face the greatest challenges in 2022 are automotive plastics manufacturers who will continue to face shortages of the raw materials, composites and resins required for both interior and exterior vehicle parts. To offset shortages and supply chain unpredictability, these manufacturers will need to increase productivity and agility, keep costs in check, and potentially identify and design around alternative plastics materials—even as they ensure compliance with government and industry standards for quality and safety.
