WASHINGTON, May 05, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Electric Vehicle Plastic Market finds that rising trend of weight reduction in PHEV/ HEV/ BEV and increasing demand of thermally stable plastic, are factors that influencing the growth of Electric Vehicle Plastic Market.
The total Global Electric Vehicle Plastic Market is estimated to reach USD 3862.1 Million by the year 2028. The Global Market value stood at USD 942.5 Million in the year 2021, and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 26.50%, states Vantage Market Research, in a report, titled “Electric Vehicle Plastic Market Size, Share & Trends Analysis Report by Plastic Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), polyvinyl butyral), by Application (Powertrain System/ Under Bonnet, Exterior, Interior, Lighting & Electric Wiring), by Component (Dashboard, Seats, Interior trim, Car upholstery), by Vehicle Type (BEV, PHEV/ HEV), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- The report analyzes the Electric Vehicle Plastic market competitive landscape and offers information on several market vendors.
- An Exclusive study come up with Vantage Market Research experienced researchers projected value of USD 3862.1 Million at a CAGR of 26.50%.
- It offers additional highlights and key points on various market segments and their impact in the coming years.
- The sample report includes Latest Drivers and Trends in the Market.
- Comprehensive information on factors that will assist Electric Vehicle Plastic market growth during the next five years.
- The report offers predictions on upcoming trends and changes in consumer behavior.
- Comprehensive study involving market types, application and end-users.
- To understand more about Market Dynamics, get access to our free sample report.
Market Dynamics:
Drivers:
Increasing Demand for EVs as well as Weight Reduction In PHEV, HEV, and BEV
Transportation plays an important role in the present-day society that we live in. Since old times, fossil fuels have been used in vehicles for transportations. Hence, the concerns regarding preservation and sustaining the fossil fuels for next generations is increasing. Especially, owing to mounting shortage of natural resources and environmental concerns. Thus, owing to the increase in pollution and the need to protect the environment, it poses a great challenge on society as well as government across the globe. Introduction of e–bikes is witnessing revolutionary effects as a perfect solution to this challenge. This is increasing the demand for e–bikes, ultimately, increasing the demand for the electric vehicle plastic as being a vital raw material. Moreover, changing trend to trend of weight reduction in PHEV/ HEV and BEV is further propelling the demand for electric vehicle plastics, in turn, propelling the market growth over the forecast period.
The Electric Vehicle Plastic Market Covers the Following Key Insights & Findings:
- Exclusive Summary: Basic statistics on the global Electric Vehicle Plastic market.
- The changing effect on market dynamics: global part provides driving factors, trends, challenges and opportunities; post-COVID analysis.
- View 2022-2028 by type, end user and region/nation.
- Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
- Understand the structure of the Electric Vehicle Plastic market by identifying its various sub-segments.
- Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
- It offers massive data about the trending factors that will influence the progress of the market.
- In-depth understanding of Electric Vehicle Plastic Market drivers, restraints, and major micro markets.
- Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
- Free Report Customization: This report can be customized according to specific client needs.
- Key Strategic Developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.
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Segmentation of Electric Vehicle Plastic Market:
- Plastic Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyvinyl Butyral
- Polyurethane (PU)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polymethylmethacrylate (PMMA)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polybutylene Terephthalate (PBT)
- Others
- Application
- Powertrain System/ Under Bonnet
- Exterior
- Interior
- Lighting & Electric Wiring
- Component
- Dashboard
- Seats
- Interior Trim
- Car Upholstery
- Bumper
- Body
- Exterior Trim
- Battery
- Engine
- Lighting
- Electric Wiring
- Others
- Vehicle Type
- BEV
- PHEV/ HEV
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Increasing Investments from Government as well as Major Players
Looking at the need to protect the environment as well as alternative solutions for vehicles using fossil fuels, several countries have recognized the need to go electric vehicles. Whereas with the US and China already gearing up to electric vehicles. Therefore, major players engaged in the market as well as several governments across the globe government are investing their money greatly for technology development, and reducing wright with need for high heat resistant plastic as well as production of electric vehicles (EVs). For instance, In 2019, BASF has launched its smart Verbund project in Zhanjiang, Guangdong province, China, and commenced building its first plant. It marks a milestone of the company’s USD10 billion investment projects announced in July 2018.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Electric Vehicle Plastic Market Highlights:
- Assessment of the Market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific dominated the growth of Electric Vehicle Plastic Market in 2021. The major driving factor for the market is the presence of countries such as China, Japan, India, and South Korea. Moreover, presence of major players engaged in the market, and growing investment by key companies in the region is ultimately driving the market over the forecast period.
List of Prominent Players in the Electric Vehicle Plastic Market:
- BASF (Germany)
- SABIC (Saudi Arabia)
- Dow (US)
- Lyondellbasell Industries Holdings B.V (Netherlands)
- DuPont de Nemours Inc. (US)
- Covestro (Germany)
- Solvay (Belgium)
- LANXESS (Germany)
- LG Chem (South Korea)
- Asahi Kasei (Japan)
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Electric Vehicle Plastic Market Size, Share & Trends Analysis Report by Plastic Type (Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), polyvinyl butyral), by Application (Powertrain System/ Under Bonnet, Exterior, Interior, Lighting & Electric Wiring), by Component (Dashboard, Seats, Interior trim, Car upholstery), by Vehicle Type (BEV, PHEV/ HEV), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/electric-vehicle-plastic-market-195882
Recent Developments:
February 2020: Covestro has developed a new composite technology that facilitates the industrial-scale production of particularly thin, lightweight, high-strength yet aesthetic parts. It is based on Continuous Fiber-Reinforced Thermoplastic Polymers (CFRTP) and is marketed under the name Maezio™.
Key Questions Answered in Electric Vehicle Plastic Market Report:
- Which manufacturing technology is used for Electric Vehicle Plastic Market?
- What developments are happening in that technology?
- What trends are causing these developments?
- Who are the global key players in this market?
- What are your company profile, your product information and contact information?
- What was Global Market Status of Electric Vehicle Plastic industry?
- What was capacity, Production Value, Cost and PROFIT of Market?
- What is current Market Status Electric Vehicle Plastic Industry?
- What is the market competition in this industry, both company and country wise?
- What's Market Analysis of Market by Taking Applications and Types in Consideration?
- What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for Electric Vehicle Plastic industry?
This market titled “Electric Vehicle Plastic Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details | |
| Forecast Period 2022 to 2028 CAGR | 26.50% | |
| Market Size in 2021 | USD 942.5 Million | |
| 2028 Value Projection | USD 3862.1 Million | |
| Market Size Provided for Years | 2016-2028 | |
| Base Year | 2021 | |
| Historic Years | 2016-2020 | |
| Forecast Years | 2022-2028 | |
| Segments Covered | • Plastic Type ° Acrylonitrile Butadiene Styrene (ABS) ° Polyamide (PA) ° Polycarbonate (PC) ° Polyvinyl Butyral ° Polyurethane (PU) ° Polypropylene (PP) ° Polyvinyl Chloride (PVC) ° Polymethylmethacrylate (PMMA) ° High-Density Polyethylene (HDPE) ° Low-Density Polyethylene (LDPE) ° Polybutylene Terephthalate (PBT) ° Others • Application ° Powertrain System/ Under Bonnet ° Exterior ° Interior ° Lighting & Electric Wiring • Component ° Dashboard ° Seats ° Interior Trim ° Car Upholstery ° Bumper ° Body ° Exterior Trim ° Battery ° Engine ° Lighting ° Electric Wiring ° Others • Vehicle Type ° BEV ° PHEV/ HEV • Region ° North America ° Europe ° Asia Pacific ° Latin America ° Middle East & Africa | |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa | |
| Companies Covered | • BASF (Germany) • SABIC (Saudi Arabia) • Dow (US) • Lyondellbasell Industries Holdings B.V (Netherlands) • DuPont de Nemours Inc.(US) • Covestro (Germany) • Solvay (Belgium) • LANXESS (Germany) • LG Chem (South Korea) • Asahi Kasei (Japan) | |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
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