Electric Vehicle Plastics Market Report 2026

The electric vehicle plastics market size has grown exponentially in recent years. It will grow from $3.29 billion in 2025 to $4.02 billion in 2026 at a compound annual growth rate (CAGR) of 22%. The growth in the historic period can be attributed to ev production growth, weight reduction requirements, insulation needs in evs, polymer processing advancements, cost-effective component manufacturing.

The electric vehicle plastics market size is expected to see exponential growth in the next few years. It will grow to $8.91 billion in 2030 at a compound annual growth rate (CAGR) of 22%. The growth in the forecast period can be attributed to fire safety regulations, recyclable plastic adoption, modular ev architecture growth, thermal efficiency optimization, sustainable material mandates. Major trends in the forecast period include growing use of plastics in battery enclosures, adoption of flame-retardant polymers, demand for lightweight interior components, expansion of thermal management plastics, integration of recyclable materials.

The rising demand for lighter vehicles is expected to drive the growth of the electric vehicle plastics market. Lighter vehicles, designed with reduced weight compared to conventional models, are increasingly sought after due to stricter fuel efficiency standards, environmental concerns regarding emissions, and advancements in materials technology that allow weight reduction without compromising strength or safety. Incorporating electric vehicle plastics in lighter vehicles reduces overall weight while maintaining durability, enhancing efficiency, performance, fuel economy, and driving range. For instance, in May 2024, according to Federal Reserve Economic Data from the Federal Reserve Bank of St. Louis, sales of lightweight vehicles, including cars and trucks, rose from 13.5 million in 2022 to 16.1 million in 2023. Therefore, the rising demand for lighter vehicles is driving the growth of the electric vehicle plastics market.

Major companies in this market are adopting advanced technologies such as post-consumer recycled-based technology to enhance sustainability and reduce environmental impact. This technology involves incorporating recycled materials from consumers into product manufacturing, reducing environmental harm. For instance, in July 2023, Saudi Basic Industries Corporation (SABIC) introduced PCR-based NORYL resin technology, integrating post-consumer recycled content for environmental benefits while maintaining material performance and sustainability with a reduced carbon footprint. This approach is groundbreaking among polyphenylene ether (PPE)-based materials, utilizing significant recycled content.

In September 2023, ABC Technologies Holdings Inc., a Canada-based automotive systems company, acquired Plastikon Industries Inc. for $130 million. Through this acquisition, ABC Technologies aims to strengthen its position in the automotive manufacturing sector by expanding its product portfolio and enhancing its market reach. Plastikon Industries Inc., a US-based company specializing in plastic manufacturing, focuses on filtration and related products.

Major companies operating in the electric vehicle plastics market report include Exxon Mobil Corporation, BASF SE, Dow Company, Saudi Basic Industries Corporation (SABIC), Lyondellbasell Industries Holdings B.V., LG Chem Ltd, Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Toray Industries Pvt. Ltd, Sumitomo Chemicals Co. Ltd., Ineos Group Holdings Limited, AGC Chemicals Pvt. Ltd, DuPont de Nemours Inc., Borealis AG, Arkema S.A., Celanese Corp., LANXESS AG, Formosa Plastic Corporation, Teijin Limited, Solvay S.A., Kuraray Co. Ltd., Denka Company Limited, Polyplastics Co. Ltd.

North America was the largest region in the electric vehicle plastics market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle plastics market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle plastics market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric vehicle plastics market consists of sales of polyether ketone, polyphenylene sulfide, polyphenylsulfone, and polyoxymethylene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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