Opportunity for Plastics in Extended-range Electric Vehicle.

Powerful emission standards to drive electrification, as well as weight reduction, is one of the major factors driving the growth of the plastics for the electric vehicle market. Moreover, use of bio-plastics in electric vehicles is anticipated to boost the growth of the plastics for the electric vehicle market.

While metal is the go-to material when it comes to the manufacturing of different components for automobiles, the resultant rise in the weight of vehicles has led the automobile manufacturers to look out for substitutes to advance the overall efficiency of vehicles. Hence, plastics are common materials compared to metals currently used to build various parts of a car.

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Key companies

Asahi Kasei Corporation, BASF SE, Covestro, Dow, DuPont, Lanxess AG, LG Chem Ltd, Lyondellbasell Industries Holdings B.V., SABIC, Solvay

The global plastic for electric vehicle market is segmented on the basis of plastic type, component, vehicle type, application. On the basis of plastic type, the market is segmented as acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), polyvinyl butyral, polyurethane (PU), polypropylene (PP), others. On the basis of component, the market is segmented as dashboard, seats, interior trim, car upholstery, bumper, others. On the basis of vehicle type, the market is segmented as BEV, PHEV/ HEV. On the basis of application, the market is segmented as powertrain system/ under bonnet, exterior, interior, lighting & electric wiring.