Electric vehicles market makes use of plastics to good effect in place of traditional metals thereby reducing weight of vehicle. The net effect here is that petrol consumption is drastically reduced to the tune of 750 liters and green effect is observed thanks to lower carbon dioxide emissions. By Application, plastics in electric vehicles market are made up of cooling pipes, fans, reinforcements and others. Segmentation of plastics in electric vehicles market By Type comprises polyurethane, polyamide, polybutenol, and ABS. By vehicle type, plastics in electric vehicles market is segmented into hybrid electric vehicles (HEV), plug-in hybrid electric vehicles and battery electric vehicles (BEV). By region, segmentation of plastics in electric vehicles market comprises North America, Europe, Asia Pacific, MEA and Latin America. Markets in North America are buoyant and are witnessing marked electric car sales because of a concentrated drive towards adoption of non-polluting vehicles.
Closely following North America are Japan and China in witnessing prolific growth in electric car sales enhancing plastics in electric vehicles industry. MEA and Latin America are slow starters to change in marketplace coupled with low electric car sales in the region. Drivers to the plastics in electric vehicles market comprise rising car sales and government laws regarding car emissions. Drivers to growth also are due to rising use of plastics as raw materials in automotive parts construction. Engineering plastics are implicit in its role in alternate drive cars. The dead weight of batteries adds to the effective weight of vehicle and brings car mileage resultantly down. In order to override the concept of heavy electrical cars, Battery covers and other body parts using plastics as primary metal and going forward prevention of green zone by carbon dioxide emissions is initiated.
Hence various types of plastics are used in automotives industry that rely on alternate metals such a polypropylene, ABS, Polyethylene, polyamide and polycarbonate. Market for Eco-friendly cars is now looking up and inclusion of plastics in these cars in boot, exterior and bonnet including battery covers make up more than half the volume of the car contributing to a 15% drop in car weight reducing net fuel intake. Key stakeholders in market include automotive plastics manufacturers, raw material suppliers for automotive plastics, and experts from electric vehicles industry, dealers and distributors of automotive plastics, automotive original equipment manufacturers (OEM’s), automobile industry and related end-user market. Automotive OEM’s call upon Nissan, Tesla Motors, Chevrolet and Volkswagen to benefit by their status as market end-users. As per industry news, plastics industry will benefit from increasing Electric Vehicles (EV) sales and non-moving components of industry.
Plastics in use are driven by lightweight nature which increases fuel economy of the vehicle. The increasingly high battery weight adds to the overall weight of vehicle thus adding to the mileage. Metals are used in manufacture of gears, motors and other components but rely on plastics for non-moving components manufacture such as Air-conditioners, fans, cooling pipes and pumps. Key industrial players include BASF SE, The Dow Chemical Company, and Ineos Capital Ltd.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Plastics in Electric Vehicles in these regions, from 2012 to 2022 (forecast), covering
• United States
• South Korea
Global Plastics in Electric Vehicles market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• The Dow Chemical Company
• Mitsubishi Chemical
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Polybutylene Terephthalate
• Polyvinyl Chloride
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
• Cooling Pipes
• Battery Pack Structures and Cells
Research Support Specialist, USA