Press release
Emerging Sub-Segments Transforming the Electric Vehicle Plastics Market Landscape
Electric Vehicle Plastics Market
Electric Vehicle Plastics Market Size and Projected Growth
The market for plastics in electric vehicles is anticipated to soar, reaching a valuation of $7.3 billion by 2029. This represents a robust compound annual growth rate (CAGR) of 22.0% over the forecast period. Several factors contribute to this rapid expansion, including advancements in battery technology, stringent government policies encouraging electric vehicle adoption, a growing consumer preference for eco-friendly materials, and innovations in lightweight composite plastics. Additionally, the development of charging infrastructure, increased investment in autonomous driving technologies, and efforts to lower manufacturing costs are all driving the market forward. Key trends likely to influence this sector involve bio-based polymers, improved recycling methods, lightweight composites, smart polymers with self-healing properties, wider adoption of 3D printing for custom parts, high-temperature resistant plastics, and conductive polymer advancements.
Download a free sample of the electric vehicle plastics market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16411&type=smp
Leading Players Dominating the Electric Vehicle Plastics Industry
A number of major corporations are at the forefront of the electric vehicle plastics market, including Exxon Mobil Corporation, BASF SE, Dow Company, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V., LG Chem Ltd, Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Toray Industries Pvt. Ltd, Sumitomo Chemicals Co. Ltd., Ineos Group Holdings Limited, AGC Chemicals Pvt. Ltd, DuPont de Nemours Inc., Borealis AG, Arkema S.A., Celanese Corp., LANXESS AG, Formosa Plastic Corporation, Teijin Limited, Solvay S.A., Kuraray Co. Ltd., Denka Company Limited, and Polyplastics Co. Ltd.
Strategic Acquisitions Strengthening Market Positions
In a notable development, ABC Technologies Holdings Inc, a Canadian automotive systems company, completed the acquisition of Plastikon Industries Inc. in September 2023 for $130 million. This move is designed to bolster ABC Technologies' footprint in automotive manufacturing by broadening its product range and expanding market access. Plastikon Industries, based in the US, specializes in filtration systems and plastic manufacturing, making this acquisition a strategic fit to enhance ABC Technologies' capabilities.
View the full electric vehicle plastics market report:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-plastics-global-market-report
Sustainability Trends Shaping the Electric Vehicle Plastics Market
A key shift within the electric vehicle plastics industry is the adoption of post-consumer recycled (PCR) technologies aimed at minimizing environmental impacts. PCR involves integrating recycled materials from consumer products into new manufacturing processes, promoting sustainability. For example, in July 2023, Saudi Basic Industries Corporation (SABIC) launched its innovative PCR-based NORYL resin technology. This product incorporates significant amounts of recycled content, offering both environmental benefits and improved material performance. SABIC's development marks a pioneering step in Polyphenylene Ether (PPE)-based materials, emphasizing sustainability without sacrificing quality.
Technological Innovations Creating New Market Opportunities
Alongside sustainability, technological advancements are also fueling market growth. Companies are focusing on bio-based polymers, lightweight composites, and smart materials like self-healing polymers. The use of 3D printing to produce customized components is becoming more widespread, allowing for more efficient manufacturing and design flexibility. These innovations not only enhance product performance but also contribute to lower vehicle weight and improved energy efficiency.
Detailed Segmentation of the Electric Vehicle Plastics Market
This market is segmented primarily by resin type, vehicle type, and application area. Resin categories include Polypropylene (PP), Polyamide (PA), Polycarbonate (PC), Polyethylene (PE), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyvinyl Butyral (PVB), Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), and other specialty resins. Vehicle types are divided into Battery Electric Vehicles (BEV) and Hybrid Electric Vehicles (HEV) or Plug-In Hybrid Vehicles (PHEV). Application segments cover interiors, exteriors, powertrain systems or under-the-hood components, lighting, and electric wiring.
Subcategories further break down each resin type into specific forms, such as fiber-reinforced and impact-resistant polypropylene, various nylon grades for polyamide, transparent and glass-filled polycarbonate, and different densities of polyethylene. Polyurethane includes thermoplastic and foam types, while PVC is categorized into rigid and flexible forms. Other notable resin subtypes involve advanced materials like Polyether Ether ket*one (PEEK), Polylactic Acid (PLA), and Polyphenylene Sulfide (PPS), highlighting the diversity of materials used in electric vehicle manufacturing.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Emerging Sub-Segments Transforming the Electric Vehicle Plastics Market Landscape here
News-ID: 4322214 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…
