Global Electric Vehicle Plastics Market Size Study, by Resin (PP, PU), by Application (Interior, Exterior), by Vehicle Type (BEV, HEV/PHEV), by Components (Battery, Bumper), and Regional Forecasts 2022-2032

Description

The Global Electric Vehicle Plastics Market is valued at approximately USD 2.37 billion in 2023 and is anticipated to grow with a robust CAGR of 28.0% over the forecast period 2024-2032. Electric vehicle (EV) plastics have emerged as critical enablers in transforming automotive design and efficiency. Their lightweight and durable characteristics contribute to improving vehicle performance by enhancing fuel efficiency and extending battery range. The use of plastics spans across vital components such as bumpers, batteries, and interiors, driven by their versatility and cost-effectiveness. The rise of electric vehicles in response to environmental mandates and shifting consumer preferences has made plastic solutions indispensable in achieving industry goals of sustainability and innovation.

A surge in EV production, coupled with advancements in polymer technology, underpins the expansion of the market. The adoption of polypropylene (PP) and polyurethane (PU) in automotive manufacturing underscores a commitment to lightweight and impact-resistant materials. Moreover, the need for energy-efficient designs in battery and chassis construction has further catalyzed the demand for high-performance plastic solutions. However, challenges such as fluctuating raw material prices and stringent recycling regulations could pose constraints. That said, innovations in bio-based polymers and enhanced recycling technologies present lucrative opportunities for stakeholders in this dynamic market.

Regionally, Asia-Pacific dominates the electric vehicle plastics market due to its robust EV manufacturing base and government initiatives promoting clean energy. China and India stand out as pivotal growth drivers with substantial investments in EV infrastructure. North America follows, driven by technological advancements and favorable policies supporting green mobility. Europe, with its stringent sustainability goals and established EV ecosystem, also plays a significant role in market growth. Emerging markets in Latin America and the Middle East & Africa are showing potential due to increasing consumer adoption of EVs and infrastructure development.

Leading market players are prioritizing research and development to create innovative plastic solutions that align with environmental standards and customer preferences. Collaborative ventures and strategic acquisitions are shaping the competitive landscape, allowing firms to expand their reach and optimize resource utilization effectively.

Major market players included in this report are:

BASF SE
Covestro AG
SABIC
Solvay S.A.
Dow Inc.
LG Chem
Evonik Industries AG
Arkema S.A.
LyondellBasell Industries N.V.
Asahi Kasei Corporation
Mitsubishi Chemical Corporation
Toray Industries Inc.
Covestro AG
Borealis AG
DuPont de Nemours, Inc.

The detailed segments and sub-segments of the market are explained below:

By Resin:

Polypropylene (PP)
Polyurethane (PU)

By Application:

Interior
Exterior

By Vehicle Type:

Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles/Plug-in Hybrid Electric Vehicles (HEV/PHEV)

By Components:

Battery
Bumper

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year: 2022
Base year: 2023
Forecast period: 2024 to 2032

Key Takeaways:

Market estimates and forecasts spanning a decade (2022-2032).
In-depth analysis of regional and country-specific trends.
Comprehensive segmentation, encompassing product type, material type, and drug type.
Competitive landscape with key strategies employed by leading market players.
Strategic recommendations for stakeholders to leverage market opportunities.

Chapter 1. Global Electric Vehicle Plastics Market Executive Summary

1.1. Global Electric Vehicle Plastics Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Resin
- 1.3.2. By Application
- 1.3.3. By Vehicle Type
- 1.3.4. By Components
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electric Vehicle Plastics Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electric Vehicle Plastics Market Dynamics

3.1. Market Drivers
- 3.1.1. Surge in EV Production
- 3.1.2. Advancements in Polymer Technology
- 3.1.3. Demand for Lightweight and Durable Materials
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. Stringent Recycling Regulations
3.3. Market Opportunities
- 3.3.1. Innovations in Bio-based Polymers
- 3.3.2. Enhanced Recycling Technologies
- 3.3.3. Expansion in Emerging Markets

Chapter 4. Global Electric Vehicle Plastics Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Vehicle Plastics Market Size & Forecasts by Resin 2022-2032

5.1. Segment Dashboard
5.2. Global Electric Vehicle Plastics Market: Resin Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Polypropylene (PP)
- 5.2.2. Polyurethane (PU)

Chapter 6. Global Electric Vehicle Plastics Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Electric Vehicle Plastics Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Interior
- 6.2.2. Exterior

Chapter 7. Global Electric Vehicle Plastics Market Size & Forecasts by Vehicle Type 2022-2032

7.1. Battery Electric Vehicles (BEV)
7.2. Hybrid Electric Vehicles/Plug-in Hybrid Electric Vehicles (HEV/PHEV)

Chapter 8. Global Electric Vehicle Plastics Market Size & Forecasts by Components 2022-2032

8.1. Segment Dashboard
8.2. Global Electric Vehicle Plastics Market: Components Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Battery
- 8.2.2. Bumper

Chapter 9. Global Electric Vehicle Plastics Market Size & Forecasts by Region 2022-2032

9.1. North America Electric Vehicle Plastics Market
- 9.1.1. U.S. Electric Vehicle Plastics Market
  - 9.1.1.1. Resin Breakdown Size & Forecasts, 2022-2032
  - 9.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
- 9.1.2. Canada Electric Vehicle Plastics Market
9.2. Europe Electric Vehicle Plastics Market
- 9.2.1. UK Electric Vehicle Plastics Market
- 9.2.2. Germany Electric Vehicle Plastics Market
- 9.2.3. France Electric Vehicle Plastics Market
- 9.2.4. Spain Electric Vehicle Plastics Market
- 9.2.5. Italy Electric Vehicle Plastics Market
- 9.2.6. Rest of Europe Electric Vehicle Plastics Market
9.3. Asia-Pacific Electric Vehicle Plastics Market
- 9.3.1. China Electric Vehicle Plastics Market
- 9.3.2. India Electric Vehicle Plastics Market
- 9.3.3. Japan Electric Vehicle Plastics Market
- 9.3.4. Australia Electric Vehicle Plastics Market
- 9.3.5. South Korea Electric Vehicle Plastics Market
- 9.3.6. Rest of Asia-Pacific Electric Vehicle Plastics Market
9.4. Latin America Electric Vehicle Plastics Market
- 9.4.1. Brazil Electric Vehicle Plastics Market
- 9.4.2. Mexico Electric Vehicle Plastics Market
- 9.4.3. Rest of Latin America Electric Vehicle Plastics Market
9.5. Middle East & Africa Electric Vehicle Plastics Market
- 9.5.1. Saudi Arabia Electric Vehicle Plastics Market
- 9.5.2. South Africa Electric Vehicle Plastics Market
- 9.5.3. Rest of Middle East & Africa Electric Vehicle Plastics Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. BASF SE
- 10.1.2. Covestro AG
- 10.1.3. SABIC
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. BASF SE
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Solvay S.A.
- 10.3.3. Dow Inc.
- 10.3.4. LG Chem
- 10.3.5. Evonik Industries AG
- 10.3.6. Arkema S.A.
- 10.3.7. LyondellBasell Industries N.V.
- 10.3.8. Asahi Kasei Corporation
- 10.3.9. Mitsubishi Chemical Corporation
- 10.3.10. Toray Industries Inc.
- 10.3.11. Borealis AG
- 10.3.12. DuPont de Nemours, Inc.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes