The Electric Vehicle Plastic Components Market Is Expected To Grow At A Significant Growth Rate Over The Forecast Period 2022-2028, Considering Base Year As 2021.
Plastics play an important role in making vehicles lighter and more fuel-efficient, as well as in lowering their environmental impact. Sustainability has emerged as a key driver of innovation and the automotive industry's future. Electric vehicle sales are increasing due to their lower environmental impact when compared to ICE-powered vehicles. However, according to a few leading OEMs, materials and their production account for approximately 30% of a vehicle's lifetime CO2 emissions. As a result, the automotive industry must priorities the sustainability of the materials used in these vehicles, as well as make the manufacturing process more environmentally friendly.
To accomplish this effectively, manufacturers should consider the circular pathways for automotive plastics and how materials from end-of-life vehicles can be integrated into new models to make them more sustainable.
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The Major Players in The Global Electric Vehicle Plastic Components Market:
- Saudi Basic Industries Corporation
- BASF SE
- Formosa Plastics Corporation
- LyondellBasell Industries Holdings B.V.
- Evonik Industries
- The Dow Chemical Company
- Air Liquide S.A
- Sumitomo Chemical Co.Ltd.
- Mitsui Chemicals Inc.
- Hexion Inc.
- Momentive Performance Materials
- Hanwha Azdel Inc. and other major key players.
Market has segmented the Global Electric Vehicle Plastic Components Market on the basis of type, application, and region:
By Regional Outlook (Revenue, USD Billion, 2022 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
The impacts of COVID-19 have negatively impacted the automobile industry's overall output and sales in 2020 and dramatically changed the business landscape. The COVID-19 pandemic dealt a serious blow to the world economy. In comparison to 2019, the first half of 2020 saw an average 15% decline in global electric vehicle sales. The decline in sales of electric cars has a negative effect on the expansion of the industry producing plastic parts for electric vehicles. On the other hand, it is envisaged that future market acceptance would be supported by the economic recovery and governments gradually lifting lockup restrictions.
Reasons to purchase the report:
- Visualize the composition of the Global Electric Vehicle Plastic Components Market products in terms of Product and application highlighting the critical commercial assets and players.
- Identify commercial opportunities in the Global Electric Vehicle Plastic Components Market by analyzing trends and co-development deals.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Table of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Material
To be continued…….
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