736 , Shakti Khund III , New Delhi
+1778-732-2562

Global Plastics for Electric Vehicle Market By Component (Body, Bumper, Others), By Application (Exterior, Interior, Others), By Plastic Type (PA, PP, Others), By End-Users, By Region, Forecast & Opportunities to 2026

The global plastics for electric vehicle market accounted for a value of USD 645 million in 2019 and is projected to register growth at a CAGR of 22.6% during forecast period.

COVID-19 has impacted the plastics for electric vehicle market. The automotive industry is adversely impacted due to this ongoing pandemic. The manufacturing of vehicles is on halt due to lockdown and supply chain got disrupted due to travel restriction. The sales of vehicle are immensely declined across the globe. The growth of plastics for electric vehicle market is directly dependent on vehicle production. The decline in vehicle production affected the growth of plastics for electric vehicle market.

Definition:

Plastics which are used for manufacturing different components of an electric vehicle are called electric vehicle plastics. Electric vehicles generally uses metal batteries which are heavy in weight and this affects the overall functioning. The plastics used in this vehicle helps in reducing overall vehicle weight.

Market Dynamics (Drivers/Opportunities):

The manufacturers are focusing more towards reducing vehicle weight as it helps in reducing emission and improving fuel economy of the vehicle. The OEMs are looking for solutions to reduce weight in BEV and PHEV or HEV. This increases demand for thermally stable plastics. The increasing adoption of plastics in electric vehicle drives growth in plastics for electric vehicle market during forecast period.

The governments in many regions are implementing stringent emission norms which increases demand for weight reduction and adoption of plastic materials can help in reducing weight of the vehicles. The demand for electric vehicle is increasing as the environmental awareness is increasing among people and people are demanding light weight vehicle to have better fuel economy. This increases demand for plastics material and drives growth in plastics for electric vehicle market during forecast period.

Market Insights, by Component

On the basis of component, the plastics for electric vehicle market is segmented into exterior trim, body, bumper, car upholstery, interior trim, seats, dashboard, battery, engine, lighting, electric wiring and others. The interior trim segment is expected to dominate the market during forecast period. The trend for adopting plastics over metal is increasing. The interior components of electric vehicle are manufactured using plastics. The metal parts are getting replaced with plastics which reduce risk at the time of accident or crash as the plastics act as absorbing body. The use of plastics enhances the aesthetics of vehicle and delivers required strength. The demand for plastics is increasing in interior trim segment and this drives growth in interior trim segment during forecast period.

Market Insights, by End-Users

On the basis of end-users, the plastics for electric vehicle market is segmented into PHEV/HEV and BEV. The BEV segment is expected to be the fastest growing market during forecast period. The governments across various regions are implementing stringent emissions norms to reduce pollution levels and they are also adopting favorable policies for electric cars. This made BEV manufacturers adopt plastics material to enhance range of electric vehicle. The adoption of plastic parts in BEV is increasing around the world. OEMs are using plastic as it is cost effective, provides high temperature resistance property, safety and it improves strength. The increasing use of plastics in BEV segment drives growth in this segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to register growth at highest CAGR of 28.4% during forecast period. The major countries in this region contributes to the fastest growth are Japan, South Korea, India and China. These countries are home for various key market players. The electric vehicles market is growing immensely in this region and this increases market for plastics. The plastics for electric vehicle market is estimated to reach a value of USD 1353 million by 2025 in Asia-Pacific region. This region consists of large population which are adopting electric vehicles rapidly. China is estimated to lead the market for plastics for electric vehicle in this region. The government in this region is constantly trying to reduce pollution which increases growth for electric vehicle and this boosts plastics for electric vehicle market in Asia-Pacific region.

Key Companies & Market Share Insights

The key market players in plastics for electric vehicle industry are BASF SE, Lyondellbasell Industries, Sabic, Dow, Dupont, Covestro, Solvay, Lanxess, LG Chem, Asahi kasei Corporation, Mitsui Chemicals, Arkema, Ineos, Mitsubishi Engineering Plastics Corporation and Evonik Industries.

Segments Covered in the Report

This report forecasts The Global Plastics for Electric Vehicle Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global plastics for electric vehicle market report on the basis of component, application, plastic type and end-users.

Plastics for Electric Vehicle Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Plastics for Electric Vehicle Market, By Component, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Exterior Trim
  • Body
  • Bumper
  • Car Upholstery
  • Interior Trim
  • Seats
  • Dashboard
  • Battery
  • Engine
  • Lighting
  • Electric Wiring
  • Others
  1. Plastics for Electric Vehicle Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Exterior
  • Interior
  • Lighting & Electric Wiring
  • Powertrain System Under Bonnet
  1. Plastics for Electric Vehicle Market, By Plastic Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyamide (PA)
  • Polycarbonate (PC)
  • Polyvinyl Butyral
  • Polyurethane (PU)
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Polymethymethacrylate (PMMA)
  • High-Density Polyethylene (HDPE)
  • Low-Density Polyethylene (LDPE)
  • Polybutylene Terephthalate (PBT)
  • Others
  1. Plastics for Electric Vehicle Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • PHEV/HEV
  • BEV
  1. Plastics for Electric Vehicle Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Component
    • By Application
    • By Plastic Type
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Component
      • By Application
      • By Plastic Type
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Component
        • By Application
        • By Plastic Type
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Component
          • By Application
          • By Plastic Type
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Component
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Evonik Industries
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • BASF SE
    • Lyondellbasell Industries
    • Sabic
    • Dow
    • Dupont
    • Covestro
    • Solvay
    • Lanxess
    • LG Chem
    • Asahi kasei Corporation
    • Mitsui Chemicals
    • Arkema
    • Ineos
    • Mitsubishi Engineering Plastics Corporation
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

Please share your details to receive a sample copy of the report

Single User : $3750
Multi User : $6100
Buy Now

 

Why Choose Us

  • 24*7 Post Sales Support
  • Speak to Analyst for Presentations
  • 15% Free Customization
  • Global, Regional & Country level reports
  • Special Discounts for Startups & Educational Institutions

Questions ?

  • What is 15% Free Customization?
  • What is Report Subscription?
  • What is the Delivery Time of the Report?

What You Get

Data Excel Sheets

Report in PDF

Report Subscription

Analyst Support

What's Included

Market Intelligence

Competitive Intelligence

Opportunities and Challenges

Strategic Recommendations