Electric Vehicle Plastics Market worth 1.49 Billion USD by 2021

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MarketsandMarkets 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
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• 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

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• 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.

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• 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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