Electric Vehicle Plastics Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2016-2026

Research Reports

Posted on January 4, 2022

Electric Vehicle Plastics Market Overview

Increasing demand for electric vehicles owing to growing environmental awareness supported by innovation, government, and investments made by OEMs, has resulted in a technological revolution in the global automobile industry. Demand for electric vehicles thereby, lead to an increasing demand for allied industries such as plastics which is an essential material required in manufacturing of electric vehicles. Manufacturers need lightweight materials to develop an electric vehicle which is one of the primary drivers for electric vehicle plastics market. Growing environmental concern is expected to increase the demand for electric vehicles which thereby would drive the demand for electric vehicle plastics market over the forecast period.

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Electric Vehicle Plastics Market: Market Dynamics

Electric vehicle plastics market is primarily driven by the trend of light-weight plastic applications as a manufacturing element. Application of light-weight plastics in electric vehicle results in enhanced fuel efficiency along with increasing the range of battery electric vehicle (BEV). BEV is expected to be the largest contributor to electric vehicle plastic markets which in turn will boost up the growth of global electric vehicle plastics market.

Electric vehicle plastics market is further expected to witness an increasing demand owing to its performance competency as compared to metal. Plastic’s attributes such as carbon emission reduction and less dependency on petroleum drive the electric vehicle plastics market. Electric vehicle parts such as energy recovery devices, pumps, fans, casings and non-moving parts are expected to be manufactured using plastics thereby reducing the overall weight of the vehicle without compromising on performance thereby fueling the demand for global electric vehicle plastics market.

However, recycling of plastic materials used in electric vehicle parts can be a restraint, hindering the growth of electric vehicle plastics market. Vehicle components are manufactured from varied plastic materials which require sorting of components before recycling process.

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Electric vehicle plastics market can be segmented into vehicle types which includes, Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in hybrid Electric Vehicle (PHEV), wherein BEV type is expected to contribute majorly to the electric vehicle plastics market over the forecast period. BEV manufacturing requires the maximum amount of plastic materials owing to the need for making the vehicle light-weighted and increase the range of the vehicle which, thereby fuels up the demand for electric vehicle plastics market.

Among the plastics types used in electric vehicles, polypropylene (PP) constitutes a significant share in the electric vehicle plastics market. PP is widely used in electric vehicles for interior applications such as seats, car body, bumpers, head and arm rest. Polypropylene attributes such as light-weight, flexibility and improved strength stir up the demand for the material thereby, boosting up the electric vehicle plastic market.

Electric Vehicle Plastics Market: Regional Segmentation

Based on the regional coverage, electric vehicle plastics market has its presence in North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and Middle east and Africa. North America followed by Western and Eastern Europe hold a significant share in the global electric vehicle plastics market in terms of its volume. Asia-Pacific is projected to grow at the highest CAGR over the forecast period. China and Japan contribute significantly to the global sales and production of electric vehicles thereby increasing the demand for electric vehicle plastics market.

Electric Vehicle Plastics Market: Key Players

Few key players in the global electric vehicle plastics market include DuPont, Dow Chemical Company, Evonik Industries AG., INEOS capital Ltd., BSM Group, BASF SE, Plastic Omnium and others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

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The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Rest Of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Electric Vehicle Plastics Market: Segmentation

Electric vehicle plastics market can be segmented on the basis of electric vehicle type which includes:

Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug-in hybrid Electric Vehicle (PHEV)

Electric vehicle plastics market can be further segmented on the basis of plastic material used in manufacturing, which includes:

Polypropylene (PP)
Polyethylene (PE)
Acrylonitrile- Butadiene Styrene(ABS)
Polyurethanes (PE)
Polyamide (PA)
Polycarbonate (PC)
Polyvinyl Butyral (PVB)
Polyvinyl Chloride (PVC)
Others

Electric vehicle plastics market can be segmented on the basis of application, which includes:

Interior
Seats
Arm Rest
Bumpers
Head Rest
Others
Exterior
Car Body
Lights

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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