Electric vehicle plastics are specialized materials employed in manufacturing components for electric vehicles (EVs). These materials are tailored to fulfill the specific demands of EVs, such as lightweight design, durability, and electrical insulation. They find application in diverse parts such as battery enclosures, interior components, and thermal management systems.
The primary types of electric vehicle plastics include polypropylene (PP), polyamide (PA), polycarbonate (PC), polyethylene (PE), polyurethane (PU), polyvinyl chloride (PVC), polyvinyl butyral (PVB), polybutylene terephthalate (PBT), acrylonitrile butadiene styrene (ABS), and others. Polypropylene is recognized as a versatile thermoplastic polymer extensively valued for its robustness and resilience across various industrial and consumer sectors. These plastics are integrated into electric vehicles such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs). They serve purposes ranging from interior and exterior components to powertrain systems, lighting, and electrical wiring under the hood.
The electric vehicle plastics research report is one of a series of new reports that provides electric vehicle plastics market statistics, including the electric vehicle plastics industry's global market size, regional shares, competitors with an electric vehicle plastics market share, detailed electric vehicle plastics market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle plastics industry. This electric vehicle plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric vehicle plastics market size has grown exponentially in recent years. It will grow from $2.22 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. In the historical period, growth was driven by escalating fuel costs, strict emission standards, advancements in battery technology, rising consumer preference for sustainable vehicles, government incentives, improvements in lightweight materials, and global efforts to reduce carbon emissions.
The electric vehicle plastics market size is expected to see exponential growth in the next few years. It will grow to $6.15 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period will be fueled by advancements in battery technology, government regulations favoring electric vehicles, increasing consumer demand for sustainable materials, innovations in lightweight plastic composites, expansion of charging infrastructure, investments in autonomous vehicle technology, and a heightened emphasis on reducing vehicle manufacturing expenses. Key trends anticipated in the forecast period include the adoption of bio-based polymers, advancements in recycling methods, development of lightweight composite materials, integration of smart polymers for self-repair capabilities, expanded use of 3D printing for customized components, progress in high-temperature resistant plastics, and innovations in conductive polymers.
The electric vehicle plastics market is poised for growth due to increasing demand for lighter vehicles. These vehicles, which weigh less than traditional models, are in demand because of stricter fuel efficiency standards, environmental concerns regarding emissions, and advancements in materials technology that allow for weight reduction without compromising safety or performance. Using electric vehicle plastics in lighter vehicles reduces weight while maintaining strength and durability, thus improving overall efficiency and performance. These innovative plastics also contribute to better fuel economy and increased range for electric vehicles. For example, according to data from the Federal Reserve Bank of St. Louis in May 2024, sales of lightweight vehicles, including automobiles and trucks, rose from 13.5 million in 2022 to 16.1 million in 2023, indicating the growing demand for lighter vehicles is fueling 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 December 2021, Empowered Ventures acquired Paramount Plastics, a move that expands its portfolio, strengthens its capabilities in the plastics manufacturing sector, and diversifies its business interests, contributing to overall growth and stability. Paramount Plastics Inc. is a US-based custom plastics thermoforming manufacturing company.
Major companies operating in the electric vehicle plastics market are 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 Aktiengesellschaft, 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 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric vehicle plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, 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.
This product will be delivered within 3-5 business days.
The primary types of electric vehicle plastics include polypropylene (PP), polyamide (PA), polycarbonate (PC), polyethylene (PE), polyurethane (PU), polyvinyl chloride (PVC), polyvinyl butyral (PVB), polybutylene terephthalate (PBT), acrylonitrile butadiene styrene (ABS), and others. Polypropylene is recognized as a versatile thermoplastic polymer extensively valued for its robustness and resilience across various industrial and consumer sectors. These plastics are integrated into electric vehicles such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs). They serve purposes ranging from interior and exterior components to powertrain systems, lighting, and electrical wiring under the hood.
The electric vehicle plastics research report is one of a series of new reports that provides electric vehicle plastics market statistics, including the electric vehicle plastics industry's global market size, regional shares, competitors with an electric vehicle plastics market share, detailed electric vehicle plastics market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle plastics industry. This electric vehicle plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric vehicle plastics market size has grown exponentially in recent years. It will grow from $2.22 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. In the historical period, growth was driven by escalating fuel costs, strict emission standards, advancements in battery technology, rising consumer preference for sustainable vehicles, government incentives, improvements in lightweight materials, and global efforts to reduce carbon emissions.
The electric vehicle plastics market size is expected to see exponential growth in the next few years. It will grow to $6.15 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period will be fueled by advancements in battery technology, government regulations favoring electric vehicles, increasing consumer demand for sustainable materials, innovations in lightweight plastic composites, expansion of charging infrastructure, investments in autonomous vehicle technology, and a heightened emphasis on reducing vehicle manufacturing expenses. Key trends anticipated in the forecast period include the adoption of bio-based polymers, advancements in recycling methods, development of lightweight composite materials, integration of smart polymers for self-repair capabilities, expanded use of 3D printing for customized components, progress in high-temperature resistant plastics, and innovations in conductive polymers.
The electric vehicle plastics market is poised for growth due to increasing demand for lighter vehicles. These vehicles, which weigh less than traditional models, are in demand because of stricter fuel efficiency standards, environmental concerns regarding emissions, and advancements in materials technology that allow for weight reduction without compromising safety or performance. Using electric vehicle plastics in lighter vehicles reduces weight while maintaining strength and durability, thus improving overall efficiency and performance. These innovative plastics also contribute to better fuel economy and increased range for electric vehicles. For example, according to data from the Federal Reserve Bank of St. Louis in May 2024, sales of lightweight vehicles, including automobiles and trucks, rose from 13.5 million in 2022 to 16.1 million in 2023, indicating the growing demand for lighter vehicles is fueling 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 December 2021, Empowered Ventures acquired Paramount Plastics, a move that expands its portfolio, strengthens its capabilities in the plastics manufacturing sector, and diversifies its business interests, contributing to overall growth and stability. Paramount Plastics Inc. is a US-based custom plastics thermoforming manufacturing company.
Major companies operating in the electric vehicle plastics market are 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 Aktiengesellschaft, 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 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric vehicle plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Electric Vehicle Plastics Market Characteristics3. Electric Vehicle Plastics Market Trends And Strategies32. Global Electric Vehicle Plastics Market Competitive Benchmarking33. Global Electric Vehicle Plastics Market Competitive Dashboard34. Key Mergers And Acquisitions In The Electric Vehicle Plastics Market
4. Electric Vehicle Plastics Market - Macro Economic Scenario
5. Global Electric Vehicle Plastics Market Size and Growth
6. Electric Vehicle Plastics Market Segmentation
7. Electric Vehicle Plastics Market Regional And Country Analysis
8. Asia-Pacific Electric Vehicle Plastics Market
9. China Electric Vehicle Plastics Market
10. India Electric Vehicle Plastics Market
11. Japan Electric Vehicle Plastics Market
12. Australia Electric Vehicle Plastics Market
13. Indonesia Electric Vehicle Plastics Market
14. South Korea Electric Vehicle Plastics Market
15. Western Europe Electric Vehicle Plastics Market
16. UK Electric Vehicle Plastics Market
17. Germany Electric Vehicle Plastics Market
18. France Electric Vehicle Plastics Market
19. Italy Electric Vehicle Plastics Market
20. Spain Electric Vehicle Plastics Market
21. Eastern Europe Electric Vehicle Plastics Market
22. Russia Electric Vehicle Plastics Market
23. North America Electric Vehicle Plastics Market
24. USA Electric Vehicle Plastics Market
25. Canada Electric Vehicle Plastics Market
26. South America Electric Vehicle Plastics Market
27. Brazil Electric Vehicle Plastics Market
28. Middle East Electric Vehicle Plastics Market
29. Africa Electric Vehicle Plastics Market
30. Electric Vehicle Plastics Market Competitive Landscape And Company Profiles
31. Electric Vehicle Plastics Market Other Major And Innovative Companies
35. Electric Vehicle Plastics Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Electric Vehicle Plastics Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on electric vehicle plastics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for electric vehicle plastics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle plastics market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) 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); Other Resins2) By Vehicle: Battery Electric Vehicle (BEV); Hybrid Electric Vehicle (HEV) Or Plug-In Hybrid Vehicle (PHEV)
3) By Application: Interior; Exterior; Powertrain System Or Under Bonnet; Lighting And Electric Wiring
Key Companies Mentioned: Exxon Mobil Corporation; BASF SE; Dow Company; Saudi Basic Industries Corporation (SABIC); LyondellBasell Industries Holdings B.V.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
Methodology
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