Electric Vehicle Plastics Market Worth 1.49 Billion USD by 2021
PUNE, India, October 28, 2016 /PRNewswire/ --
The report "Electric Vehicle Plastics Market by Material (PP, PE, ABS, PU, PVC, PA, PC, PVB & Other Engineering Resins), Application (Interior, Exterior, Lighting/Electric Wiring & Under the hood), & Region and ICE Passenger Cars by Material - Global Forecast to 2021", The Electric Vehicle Plastics Market is projected to grow at a CAGR of 27.82%, to reach a market size of USD 1.49 Billion by 2021.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 103 market data tables and 58 figures spread through 196 pages and in-depth TOC on "Electric Vehicle Plastics Market"
http://www.marketsandmarkets.com/Market-Reports/electric-vehicle-plastic-market-219387183.html
Early buyers will receive 10% customization on this report.
The market is driven by factors such as stringent emission regulations leading to light weighting of passenger cars, and government policies encouraging the adoption for electric vehicles.
"Polyurethanes to be the largest material segment used in electric vehicles"
Polyurethanes is expected to dominate the Electric Vehicle Plastics Market. The growth of this market can be attributed to the advantages offered by polyurethanes, such as high strength, flexibility, and resistance to temperature, weather, and radiation. The key applications of polyurethanes are seating, electric wiring, and hard plastic parts. The average percentage of polyurethanes employed in a passenger car is around 15%-20%, according to MarketsandMarkets analysis. Many automotive plastic manufacturers, such as BASF SE (Germany) and The Dow Chemical Company (U.S.), have a wide range of polyurethane products for the automotive industry.
"Battery electric vehicles to be the fastest growing segment in the Electric Vehicle Plastics Market"
The Battery Electric Vehicle (BEV) segment is projected to grow at the highest CAGR during the forecast period. The primary difference in the plastics employed in a BEV compared to a Hybrid Electric Vehicle (HEV) is the under hood components. The growth of this market is driven by factors such as increasing innovation, environmental concerns, and stringent emission regulations. To promote the growth of BEVs, governments are introducing various tax and non-tax incentives for electric vehicle owners. This in turn supplements the growth of the plastics employed in these BEVs.
Make an Inquiry: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=219387183
"Asia-Oceania to be the largest market for Electric Vehicle Plastics Market"
Asia-Oceania is estimated to dominate the Electric Vehicle Plastics Market, and is projected to grow at the highest CAGR during the forecast period. The region has emerged as a hub for electric vehicles in recent years, with China and Japan as the frontrunners. Governments in Asia-Oceania are also trying to provide incentives to support the demand for electric vehicles. For instance, in Japan, electric vehicles are exempted from acquisition tax and tonnage tax, and have a 50% exemption from automobile tax.
The Electric Vehicle Plastics Market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are BASF SE (Germany), The Dow Chemical Company (U.S.), INEOS Capital Limited (Switzerland), SABIC (Saudi Arabia), and Lyondellbasell Industries Holdings B.V. (The Netherlands).
Browse related reports:
Automotive Lightweight Materials Market by Material Type (Metals, Composites, & Plastics), Application (Structural, Powertrain, Interior, Exterior, & Others), Manufacturing Process, Vehicle Type, and by Region - Global Trends and Forecast to 2019
http://www.marketsandmarkets.com/Market-Reports/automotive-lightweight-materials-market-23937731.html
Composite Materials Market for Automotive by Material Type (PMC, MMC, & CMC), Application & their Sub-Components (Structural, Powertrain, Interior, Exterior, & Others), Vehicle Type (PC, LCV, HCV, & Rolling Stock), & by Region-Global Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/automotive-composite-materials-market-6114278.html
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Subscribe Reports from Automotive and Transportation Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
Contact:
Mr. Rohan
MarketsandMarkets
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Tel : 1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/automotive-transportation
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article