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Electric Vehicle Plastics Market by Material, Application & Region and ICE Passenger Cars by Material

Electric Vehicle Plastics Market: Global Analysis

  • October 2016
  • 180 pages
  • ID: 4278425
In this report:
The plastics market for alternate fuel passenger cars in the RoW region is expected to grow at a CAGR of ##.##% during the forecast period and is estimated to be ##.## tons in 2016, and is projected to reach ##.## kilotons by 2021.
The Asia-Oceania plastics market for alternate fuel passenger cars, by material, is set to grow at the highest CAGR of ##.##%, and is expected to grow from ##.## kilotons in 2016 to ##,##.## kilotons by 2021

Summary

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"Supporting government policies and taxation schemes are anticipated to fuel the industry demand for electric vehicles"

The electric vehicle plastics market is estimated to rise at a compound annual growth rate of ~27.8 percent, to attain a market size of ~$1.5B by 2021. Different countries are trying to shift towards greener transportation solutions. Favorable taxation schemes, direct monetary incentives, and indirect subsidies are driving the sales of electric vehicles. For example, in France (FR) there is a registration tax is for ICE passenger cars, electric vehicles are exempted from such tax. On top of, subsidies have been provided for achieving set emission targets; for example, vehicles emitting less than 20 g/km get a bonus of about USD 9400, and vehicles emitting between 21 g/km-50 g/km would get a bonus of about USD 6700. Such factors are driving the electric vehicle plastics market. The factors restraining market increase are lack of charging infrastructure for battery electric passenger cars and the high cost of batteries, which increases the global cost of electric passenger cars.

"Battery Electric Vehicle is the quickest increasing vehicle type in the electric vehicle plastics market"

BEVs are anticipated to dominate the electric vehicle plastics market. Lightweighting plays a significant role in improving fuel efficiency and growing the range of the BEV. The amount of plastic used in BEVs is more compared to HEVs, in order to make the vehicle lightweight. According to the European Commission, for an electric vehicle with a range of 200 km and battery capacity of 200 Wh/kg-300 Wh/kg, the permissible weight saving cost is around USD 10/kg. To accomplish the mentioned weight saving cost, 40.0 percent of lightweighting is required. Therefore, given the need to accomplish better fuel efficiency and CO2 emission targets, BEVs will be the biggest contributor to the plastics market.

"Polyurethanes constitute the most important material segment of the electric vehicle plastics market"

Polyurethanes are widely used in the interior applications of passenger cars, and contribute around 15%-20% of total plastics used in a passenger car. According to MarketsandMarkets review, Polypropylene content in passenger cars would growth from 0.041 tons in 2016 to 0.054 tons by 2021. PP is used in automotive parts including bumpers, seats, armrests, headrest, and the car body. Properties including improved strength, flexibility, and lightness make the material suitable for automotive applications.

"Oceania/Asia: Fastest increasing electric vehicle plastics market"

Oceania/Asia is forecasted to dominate the electric vehicle plastics market, and is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period. China (CN) and Japan (JP) are the biggest contributors in the overall sales and production of electric vehicles. According to the China Association of Automobile Manufacturers, electric vehicle sales in China (CN) increased from 74,763 units in 2014 to 247,482 units in 2015, and the government is aiming to reach 5 million electric vehicles on the road by 2020. In order to cater to the growing demand for electric vehicles, the government is launching taxation schemes and providing subsidies, developing charging infrastructure, and undertaking other initiatives. Thus the growing sales of electric vehicles will likely drive the industry for plastics used in passenger cars.

Key players' distribution profiles:

The market research includes industry insights specified by different market experts, ranging from equipment suppliers to Tier-1 firms and Original equipment manufacturers. The break-up of the primaries is like:

- By Company category - Tier-1 - 63 %, Tier-2 - 29.0 percent, and Tier-3 - 8.0 percent

- By Description - C-suite - 45.0 percent, D-suite - 43.0 percent, others - 12.0 percent

- By area - North america (NA) - 58.0 percent, Europe - 30.0 percent, Asia-Oceania - 12.0 percent

- E.I. du Pont de Numours and Organization

Scope of the Report

The electric vehicle plastics market has been divided on the basis of vehicle type BEV, HEV and PHEV), material type, Acrylonitrile- Butadiene-Styrene, Polyurethanes, Polyvinyl Chloride, Polyamide (PA, Nylon 6/6, Nylon 6), Polycarbonate, Polyvinyl Butyral, other engineering resins, and Others) and application (interior, exterior, lighting & electric wiring, and under the hood). The sector has been provided in terms of quantity and value.

Why Purchasing This Study Can Help You:

This industry report includes several levels of analysis, including industry review (sector trends, Porter's Five Forces, and PEST study), supply chain research, and company descriptions, which together comprise and examine the basic overviews on the emerging and high-growth segments of the electric vehicle plastics market, opposing landscape, high-growth areas and territories, government actions, and market dynamics including drivers, market restraints, alternatives, and opportunities.

The industry report allows new sector entrants/smaller companies to comprehend the industry better to help them acquire a larger market share. Companies obtaining the study could use any one or an aggregation of the below-mentioned four strategies (sector development, product improvement/innovative projects, business diversification, and opposing assessment) to enhance their rank in the sector.

The analysis offers business insights with reference to the following points:

Industry development: Highlighted information about profitable emerging sectors. The market research examines the electric vehicle plastics market across localities

Product improvement/Innovative products: In-depth understanding into Research&development activities, up-on-coming technologies, and recent product launches in the electric vehicle plastics market

Industry diversification: Exhaustive information about untapped sectors, market investments, recent products, and recent evolutions in the electric vehicle plastics market

Opposing assessment: Detailed assessment of strategies, products, and manufacturing competences of key players in the electric vehicle plastics market

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