Press release
Electric Vehicle Plastics Market to Reach US$ 20.3 Billion by 2032, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. This report covers the full forecast period from 2024 to 2032, segmented by plastic type, application, and region, and offers strategic relevance for manufacturers, suppliers, and investors looking to understand end-use material demand, adoption patterns, and competitive positioning across major global markets.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/3860/electric-vehicle-plastics-market.html#form
MARKET STATISTICS
• Market size (2023): US$ 2.1 billion
• Forecast value (2032): US$ 20.3 billion
• CAGR (2024-2032): 27.8%
• Forecast period: 2024-2032
• Base year: 2023
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
MARKET SEGMENTATION
By Plastic Type
• PA
• PP
• PC
• Others
By Application
• Interior
• Exterior
• Powertrain/Underhood
• Lighting & Electric Wiring
By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World
SEGMENT ANALYSIS
Within the plastic type segmentation, PP (polypropylene) is expected to remain the dominant material due to its lightweight properties and cost-effectiveness that contribute to higher energy efficiency and driving range in electric vehicles. Manufacturers favor PP for components like battery covers, bumpers, and trims, which structurally supports broader EV adoption through reduced vehicle weight and improved performance.
In application segmentation, exterior plastics lead the market as EV OEMs increasingly replace traditional metal exterior parts with plastics to lower overall vehicle mass, enhance design flexibility, and improve impact resistance. This reflects a strategic materials shift in automotive engineering to meet efficiency and regulatory demands.
REGIONAL INSIGHTS
For regional segmentation, Asia-Pacific is the largest market thanks to its concentration of EV production, supportive government policies, and robust plastics manufacturing infrastructure that collectively drive higher plastics usage in EV assembly. The region's strong automotive supply chains ensure scalable production of EV plastics and sustained demand growth.
MARKET DRIVERS
• Accelerating global EV adoption that increases demand for lightweight materials to improve range and energy efficiency.
• Government emissions regulations and incentives that push OEMs to integrate more plastics as metal substitutes.
• Technological advancements in high-performance polymers tailored for EV structural and electrical applications.
• OEM strategies focused on reducing vehicle weight to meet performance and regulatory targets.
• Expansion of EV production capacity in key automotive hubs supporting material demand growth.
Top Companies in the Market
• BASF SE
• Lyondellbasell Industries Holdings B.V.
• Sabic
• Dow
• Dupont
FAQs
1. What is the projected size of the electric vehicle plastics market by 2032?
The global electric vehicle plastics market is projected to reach US$ 20.3 billion by 2032, supported by broad adoption of EVs and demand for lightweight materials.
2. What is the forecast growth rate of the electric vehicle plastics market?
The market is expected to grow at a CAGR of 27.8% between 2024 and 2032, driven by EV manufacturers' focus on energy efficiency and performance enhancements.
3. Which plastic type segment leads the electric vehicle plastics market?
Polypropylene (PP) is anticipated to be the dominant plastic type due to its versatility, lightweight nature, and broad use in EV components.
4. Which application segment accounts for the largest share?
Exterior applications dominate the market as plastics replace heavier metals in EV body panels and components to reduce overall vehicle weight.
5. Why is Asia-Pacific a key region for electric vehicle plastics demand?
Asia-Pacific leads due to its large EV production base, supportive policies, and established plastics supply chain, making it a structural hub for EV plastics consumption.
Related Links:
PPS Market:
https://plaza.rakuten.co.jp/marketing123/diary/202512120002/
European ROTO Moulding Market:
https://news909.livepositively.com/european-roto-molding-market-advancing-durable-and-customizable-polymer-solutions/new=1
Civil Aircraft SATCOM Equipment Market:
https://news909.livepositively.com/connecting-the-skies-the-civil-aircraft-satcom-equipment-market/new=1
Civil Aircraft SATCOM Antenna Market:
https://news909.livepositively.com/high-flying-connectivity-the-civil-aircraft-satcom-antenna-market/new=1
High-Performance Polyamide Market:
https://webyourself.eu/blogs/1696175/Strength-and-Versatility-The-High-Performance-Polyamide-Market
Civil Aircraft And Military SATCOM Market: https://plaza.rakuten.co.jp/marketing123/diary/202512150000/
Military Aircraft SATCOM Market:
https://plaza.rakuten.co.jp/marketing123/diary/202512150001/
Aircraft Hydromechanical Unit (HMU) Market: https://plaza.rakuten.co.jp/marketing123/diary/202512150002/
Aircraft FADEC Market:
https://plaza.rakuten.co.jp/ingnews/diary/202512150000/
Aircraft Avionics MRO Market: https://plaza.rakuten.co.jp/ingnews/diary/202512150001/
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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