The global electric vehicle plastics market is projected to witness a growth rate of 27.8% annually from 2024 to 2032, with an anticipated size of US$ 20.3 billion by 2032, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global electric vehicle plastics market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights:
Market Size in 2032: US$ 20.3 billion
Growth (CAGR): 27.8% during 2024-2032
Forecast Period: 2024-2032
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Segment Insights on the Electric Vehicle Plastics Market:
The global Electric Vehicle Plastics market is segmented based on Technology type, Communication type, and Region.
Based on plastic type – The electric vehicle plastics market is segmented into PA, PP, PC, and Others. PP is expected to remain the dominant plastic type in the market during the forecast period. PP is a lightweight material, contributing to vehicle weight reduction, which improves EV energy efficiency and driving range. PP is relatively inexpensive compared to other engineering plastics, making it a cost-effective option for the mass production of EV components. PP can be used in a wide range of applications, including battery covers, interior trim, bumpers, and exterior panels, making it highly versatile in EV manufacturing. PP offers excellent resistance to chemicals, which is crucial for components exposed to various fluids, such as coolant reservoirs and battery casings.
Based on application type – The market is segmented into interior, exterior, powertrain/underhood, lighting & electric wiring. Exteriors are expected to remain the dominant application in the market during the forecast period. EV manufacturers prioritize lightweight materials like plastics for exterior parts such as bumpers, body panels, and hoods to improve energy efficiency and extend vehicle range. Plastics used in exterior applications, such as polypropylene and polycarbonate, offer excellent impact resistance and durability, making them ideal for parts exposed to harsh conditions. Plastics offer great design freedom, allowing car makers to mold complicated, smooth shapes that enhance car performance and looks. Plastics used in exterior components of EVs are usually not susceptible to corrosion and environmental conditions such as moisture as metals therefore the chances of the parts degrading are reduced.
To know the most attractive segments, visit:
https://www.stratviewresearch.com/3860/electric-vehicle-plastics-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
Asia-Pacific, particularly China, is the global leader in EV production, with a high concentration of EV manufacturers, driving significant demand for EV plastics. Strong government policies and incentives promoting EV adoption in countries like China, Japan, and South Korea are boosting the demand for lightweight materials like plastics to improve EV efficiency. The region has a well-established plastics manufacturing industry with lower production costs, making it an attractive hub for automotive component manufacturing, including EV plastics. The rapid increase in EV sales across Asia-Pacific, driven by consumer demand for eco-friendly transportation, further fuels the demand for plastics used in electric vehicles.
Electric Vehicle Plastics Market Drivers:
Some of the key drivers listed in the report are given below.
• The increasing demand for lightweight materials to improve energy efficiency and extend the driving range of EVs. As automakers focus on reducing vehicle weight to enhance battery performance, plastics have become a preferred choice due to their strength, durability, and ability to replace heavier materials like metal.
• The rising adoption of electric vehicles globally, driven by stringent environmental regulations and a shift toward sustainability, further accelerates the demand for EV plastics.
• The growing development of advanced polymers for battery housings, interior components, and electrical systems supports market growth by improving safety and design flexibility.
Top Companies in the Electric Vehicle Plastics Market:
Stratview Research has identified the following companies as the top market players.
• BASF SE
• Lyondellbasell Industries Holdings B.V.
• Sabic
• Dow
• Dupont
Note: The above list does not necessarily include all the top players in the market.
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Electric Vehicle Plastics Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at – sales@stratviewresearch.com
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Electric Vehicle Wire Harness Market: https://www.stratviewresearch.com/3820/electric-vehicle-wire-harness-market.html
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.
