According to a market report by Lucintel, the future of the electric vehicle plastics market looks promising with opportunities in the hybrid, plug-in-hybrid, and battery electric vehicle markets. The electric vehicle plastics market is expected to grow with a CAGR of 28% from 2019 to 2024. The major drivers for this market are growing demand for electric vehicles and increasing demand for lightweight materials to reduce vehicle weight in response to stringent government regulations on fuel economy.
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Within the electric vehicle plastics market, hybrid, plug-in-hybrid, and battery electric vehicle are the major end use industries. Battery electric vehicle is the largest end use segment for electric vehicle plastics.
Asia Pacific will remain the largest region over the forecast period due to higher production and sales of electric vehicles, and gradually the increasing plastic content per vehicle, which increases the demand for electric vehicle plastics market.
BASF SE, The DOW Chemical Company, INEOS Capital Limited, Sabic, Lyondellbasell Industries Holdings, E.I. Du Pont De, Nemours and Company, Akzo Nobel, Exxon Mobil, Evonik Industries, and Plastic Omnium are among the major suppliers of plastics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the electric vehicle plastics market by material, by application, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Electric Vehicle Plastics Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the electric vehicle plastics market by material, by application, by end use, and by region as follows:
By Material [$M shipment analysis for 2013 – 2024]
Polypropylene
Polyurethane
Polyamide
PVC
ABS
Polycarbonates
Polyethylene
PMMA
Other Plastics
By Application [$M shipment analysis for 2013 – 2024]
Interior
Exterior
Lighting & Electric Wiring
Under the hood
By End Use [$M shipment analysis for 2013 – 2024]
Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug in Hybrid Electric Vehicle (PHEV)
By Region [$M shipment analysis for 2013 – 2024]
North America
Europe
Germany
Russia
France
United Kingdom
Italy
Asia Pacific
Japan
India
South Korea
Indonesia
Turkey
China
The Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-vehicle-plastics-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.