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Analysis of the Electric Vehicle Plastics and Composites Market for Europe and North America 

Analysis of the Electric Vehicle Plastics and Composites Market for Europe and North America 

  • April 2016
  • 139 pages
  • ID: 3812608
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Analysis of the Electric Vehicle Plastics and Composites Market for Europe and North America : Lightweighting will Drive the Future

The composites and plastics market for all applications in electric vehicles is primarily driven by the lightweighting trend in the electric vehicle industry. While Europe recorded a positive trend due to high electric vehicle production compared to North America, the North American region is showing positive signs of growth and is expected to surpass Europe by 2022. The plastics segment dominates the overall composites and plastics demand in electric vehicles at present. However, the composite segment is likely to gain popularity due to its performance competency with metals. Germany and the US lead the league of European and North American electric vehicle composites and plastics market in terms of volume.

Key Findings

In terms of volume, the Electric Vehicle (EV) plastics segment is at the forefront compared to EV composites due to its penetration in various applications in the conventional automotive industry. Polyolefin leads due to its lightweighting attributes that help in improving the range of an EV in a single charge. In addition, polyolefin is the most ideal plastic when it comes to end-of-life compliance, as it is easy to recycle.

- Carbon Fiber Reinforced Plastic (CFRP) and Glass Fiber Reinforced Plastic (GFRP) offer metal competitive mechanical strength in the monocoque and space frame of vehicle bodies. However, GFRP is more cost effective than CFRP and therefore, 'its penetration in EV applications is higher.

- The interior system component supply chain is established, as there is an existing supplier base of components catering to the conventional automotive industry. As a result, there is high penetration of plastics and composites in the interior systems segment. In terms of overall growth, powertrain and battery application hold great potential due to the new component development in this segment. EV component manufacturers have understood the need for specialty high temperature grades of polymers in powertrain and battery applications.

- Dynamics in the EV composites and plastic market are primarily driven by higher EV production in Europe. US and Germany account for a significant share in the total European and North American EV composites and plastics market. Demand from Germany is due to the presence of key EV Original Equipment Manufacturers (OEMs) such as BMW and VW

Key Questions

- In what stage is the European and North American EV composites and plastic market, and how is it expected to grow?
- What are the key factors driving and restraining the growth of the composites and plastics market in the EV industry?
- What are the dynamics influencing material usage across various EV application segments?
- What are the growth opportunities for composites and plastics in different EV application segments?
- Which are the leading market participants?
- What are the key competitive factors governing the market?

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