Electric Vehicle Plastic Market Key Players & Growth Rate and Forecasts to 2028

Electric Vehicle Plastic Market

Global Electric Vehicle Plastic Market: Description

While metal is the go-to material with regards to assembling different parts for cars, the resultant expansion in weight of vehicles has driven the car producers to pay special attention of choices to work on the general effectiveness of vehicles.

Subsequently, plastics are normal materials after metals that are used right now to fabricate different pieces of a vehicle.

According to the point of view of electric vehicles, a higher amount of plastic material is utilized than the customary vehicles inferable from consideration of bigger battery pack, more modest size of the gas-powered motor and interest for lightweight materials to further develop eco-friendliness.

Electric vehicle plastics are those natural substances, which are unmistakably used to fabricate parts and supplies that make up an electric vehicle.

Global Electric Vehicle Plastics Market: Overview

The global electric vehicle plastics market was at US$ 21.1 Billion in 2021, and it is predicted that it will reach a valuation of US$ 41.83 Billion by the end of 2030 amplifying with a CAGR of 7.9% between 2022 and 2030

With a move towards assembling cars that offer less ozone-depleting substances discharges and are profoundly eco-friendly.

Electric vehicles and their variations are being produced by practically all the significant car makers attributable to further developing year on year deals of electric vehicles straightforwardly affecting the development of the electric vehicle plastics market.

One more variable that drives the development of the market is the lessening in the costs of unrefined components utilized in the production of electric vehicles.

The rising contribution of plastics as unrefined components to assemble auto parts and supplies is additionally one of the main considerations ascribing to the development of the electric vehicle plastics market.

Key Trends of Global Electric Vehicle Plastics Market:

Rising significance of high-performance plastics

The rising meaning of elite execution plastic to guarantee traveller wellbeing and security is the essential main thrust of the market.

Additionally, the developing accentuation on electric vehicle lightweight is likewise adding to the market’s development.

Then again, the sluggish pace of reception of electric vehicles is expected to hose the interest for EV plastics, in this way hampering the market’s development.

Also, reusing issues related to electric vehicle plastics is likewise one more test in the way of market development.

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Segmental Analysis of Global Electric Vehicle Plastic Market:

Based on Material

  • ABS
  • PMMA
  • PVC
  • Polymide
  • Polypropylene
  • Polyurethane
  • Polycarbonates
  • Polyethene
  • Others

Based on Application

  • Under the hood
  • Interior
  • Exterior
  • Lighting and Electric Wire

Based on End-User

  • Plug-in Hybrid Electric Vehicle
  • Hybrid Electric Vehicle
  • Battery Electric Vehicle

Based on Region

NORTH AMERICA

  • Mexico
  • US
  • Canada

EUROPE

  • Italy
  • Germany
  • UK

ASIA-PACIFIC

  • India
  • China
  • Japan

REST OF THE WORLD

  • Brazil
  • Turkey

The market in the Asia-Pacific is expected to showcase the fastest growth in the years to come. The major factors contributing to the growth of the market in the region include the growth of the electric vehicle industry and the rising demand for plastic parts & accessories in EVs.

Competitive Landscape:

  • upont
  • Dow Chemical Company
  • Evonik Industries
  • Ineos Capital Ltd
  • Basf Se
  • Plastic Omnium
  • Mitsui Chemicals
  • Covestro AG
  • Asahi Kasei Corp.
  • Lanxess Corporation
  • Lyondellbasell Industries Nv
  • Sumimoto Chemical Co Ltd
  • Momentive Performance Materials
  • Hanwha Azdel Inc

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Scope of the Report:

Base Year- 2022

Historical Year- 2018-2021

Forecast Year- 2022-2030

CAGR- 7.9%

Segments Covered- End-user, Material, Application and Region