Global electric vehicle plastics market is expected to reach US$ 22.49 Billion by 2031, from US$ 4.09 Billion in 2024, at a CAGR of 27.6% during the forecast period.
The latest market intelligence report published by CMI with the title “Global Electric Vehicle Plastics Market 2024, Growth Opportunities, and Forecast” provides actionable insights on Bulk Chemicals industry. The report provides demand analysis, industry insights, competitive intelligence, and customer database.
The Research report on Global Electric Vehicle Plastics Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Key opportunities Global Electric Vehicle Plastics Market
1. Growing Demand for Lightweight Materials: As automakers strive to enhance the efficiency and performance of electric vehicles, the demand for lightweight materials is on the rise. Plastics play a crucial role in reducing vehicle weight, which can improve battery efficiency and extend driving range. This presents a significant opportunity for manufacturers to innovate and develop advanced lightweight plastics that meet the stringent requirements of the EV industry.
2. Sustainability and Recycling Initiatives: There is an increasing emphasis on sustainability within the automotive sector. The development of bio-based and recyclable plastics can attract EV manufacturers looking to reduce their environmental footprint. Companies that invest in sustainable materials and processes can tap into a growing consumer preference for eco-friendly products, enhancing their market competitiveness.
3. Expansion of EV Models and Production: The rapid expansion of electric vehicle offerings from various automakers creates opportunities for plastic suppliers. As more manufacturers enter the EV market, the demand for specialized plastics in components such as interiors, exteriors, and battery housings will increase. This diversification allows plastic manufacturers to expand their product lines and explore new partnerships with automotive companies.
4. Technological Advancements in Plastic Formulations: Innovations in plastic formulations, such as improved thermal stability, durability, and electrical conductivity, are essential for meeting the evolving demands of the EV market. Companies that focus on research and development to create advanced polymers tailored for specific applications in electric vehicles can gain a competitive edge. This includes developing materials that can withstand higher temperatures and electrical insulation properties for battery components.
5. Emerging Markets and Infrastructure Development: The global push for electric vehicles is not limited to developed countries; emerging markets are also ramping up their EV production and adoption. As these markets grow, there will be increased demand for plastics used in electric vehicle manufacturing. Additionally, the development of EV charging infrastructure will create opportunities for plastic applications in charging stations and related components, further driving market growth.
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Detailed Segmentation and Classification of the report (Market Size and Forecast – 2031, Y-o-Y growth rate, and CAGR):
• By Resin
Polypropylene (PP)
Polyamide (PA)
Polycarbonate (PC)
Polyethylene (PE)
Polyurethane (PU)
Polyvinyl Chloride (PVC)
Polyvinyl Butyral (PVB)
Polybutylene Terephthalate (PBT)
Acrylonitrile Butadiene Styrene (ABS)a
Polyethylene Terephthalate (PET)
Others
• By Application
Interior
Exterior
Powertrain System/Under Bonnet
Lighting & Electric Wiring
• By Components
Steering & Dashboards
Car Upholstery
Bumper
Door Assembly
Exterior Trim
Interior Trim
Connector and Cables
Battery
Lighting
Electric Wiring
Others
• By Vehicle Type
Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)/ Plug-in Hybrid Vehicle (PHEV)
• By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report:
• LANXESS
• INEOS Group
• Celanese Corp.
• AGC Chemicals
• EMS-Chemie Holding
• Mitsubishi Engineering Plastics Corp.
• BASF SE
• SABIC
• LyondellBasell Industries Holdings B.V.
• Evonik Industries
• Covestro AG
• Dupont
• Sumitomo Chemicals Co. Ltd.
• LG Chem
• Asahi Kasei.
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Deep-dive Analysis:
The Report provides deep-dive qualitative and quantitative analysis on Global Electric Vehicle Plastics Market for all the regions and countries covered below:
• North America (the United States, Canada, and Mexico)
• Europe (Germany, France, Italy, United Kingdom, SCANDIVAN, Benelux, Russia, and Rest of Europe)
• Asia-Pacific (Japan, South Korea, India, China, Southeast Asia, and Australia)
• South America (Brazil, Argentina, and Rest of South America)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa, and Rest of the Middle East & Africa)
• Each Country is covered in detail, and report provides qualitative and quantitative analysis on Global Electric Vehicle Plastics Market on each country.
The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Global Electric Vehicle Plastics market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Global Electric Vehicle Plastics market?
4. What are the prominent market trends influencing the development of the Global Electric Vehicle Plastics market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Global Electric Vehicle Plastics market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
Key insights provided by the report that could help you take critical strategic decisions?
• Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
• Reports provide opportunities and threats faced by suppliers in the Global Electric Vehicle Plastics and tubes industry around the world.
• The report shows regions and sectors with the fastest growth potential.
• A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
• The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
• This report provides the industry’s current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.
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