Title: Electric Vehicle Plastics Market worth 1.49 Billion USD by 2021
1MarketsandMarkets Presents
Electric Vehicle Plastics Market worth 1.49
Billion USD by 2021
http//www.marketsandmarkets.com/Market-Reports/el
ectric-vehicle-plastic-market-219387183.html
2- The report "Electric Vehicle Plastics Market by
Material (PP, PE, ABS, PU, PVC, PA, PC, PVB
Other Engineering Resins), Application (Interior,
Exterior, Lighting/Electric Wiring Under the
hood), Region and ICE Passenger Cars by
Material - Global Forecast to 2021", The electric
vehicle plastics market is projected to grow at a
CAGR of 27.82, to reach a market size of USD
1.49 Billion by 2021. The market is driven by
factors such as stringent emission regulations
leading to lightweighting of passenger cars, and
government policies encouraging the adoption for
electric vehicles. - Browse 103 market data tables and 58 figures
spread through 196 pages and in-depth TOC
on Electric Vehicle Plastics Market by Material
(PP, PE, ABS, PU, PVC, PA, PC, PVB Other
Engineering Resins), Application (Interior,
Exterior, Lighting/Electric Wiring Under the
hood), Region and ICE Passenger Cars by
Material - Global Forecast to 2021 - http//www.marketsandmarkets.com/Market-Reports/e
lectric-vehicle-plastic-market-219387183.html
3- Polyurethanes to be the largest material segment
used in electric vehicles - Polyurethanes is expected to dominate the
electric vehicle plastics market. The growth of
this market can be attributed to the advantages
offered by polyurethanes, such as high strength,
flexibility, and resistance to temperature,
weather, and radiation. The key applications of
polyurethanes are seating, electric wiring, and
hard plastic parts. The average percentage of
polyurethanes employed in a passenger car is
around 1520, according to MarketsandMarkets
analysis. Many automotive plastic manufacturers,
such as BASF SE (Germany) and The Dow Chemical
Company (U.S.), have a wide range of polyurethane
products for the automotive industry. - Battery electric vehicles to be the fastest
growing segment in the electric vehicle plastics
market - The Battery Electric Vehicle (BEV) segment is
projected to grow at the highest CAGR during the
forecast period. The primary difference in the
plastics employed in a BEV compared to a Hybrid
Electric Vehicle (HEV) is the under hood
components. The growth of this market is driven
by factors such as increasing innovation,
environmental concerns, and stringent emission
regulations. To promote the growth of BEVs,
governments are introducing various tax and
non-tax incentives for electric vehicle owners.
This in turn supplements the growth of the
plastics employed in these BEVs.
4- Asia-Oceania to be the largest market for
electric vehicle plastics market - Asia-Oceania is estimated to dominate the
electric vehicle plastics market, and is
projected to grow at the highest CAGR during the
forecast period. The region has emerged as a hub
for electric vehicles in recent years, with China
and Japan as the frontrunners. Governments in
Asia-Oceania are also trying to provide
incentives to support the demand for electric
vehicles. For instance, in Japan, electric
vehicles are exempted from acquisition tax and
tonnage tax, and have a 50 exemption from
automobile tax. - The electric vehicle plastics market is dominated
by a few global players, and comprises several
regional players. Some of the key manufacturers
operating in the market are BASF SE (Germany),
The Dow Chemical Company (U.S.), INEOS Capital
Limited (Switzerland), SABIC (Saudi Arabia), and
Lyondellbasell Industries Holdings B.V. (The
Netherlands).
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