Asia-Pacific electric vehicle plastics market is projected to grow at a significant CAGR during the forecast period (2020-2026). The growth in the electric vehicle industry further provides a significant opportunity for the market in the region. As per the IEA, the global stock of electric passenger cars passed five million in 2018. Out of this, around 45% of electric cars on the road in 2018 were in China, which is around 2.3 million. In comparison, Europe accounted for 24% of the global fleet, and the US represented 22%. The same trends are expected to be maintained in the near future, which in turn, contributes to the demand for plastics components as electric cars in the region.
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Electric vehicles have been significantly adopted in China due to increasing environmental awareness. Even though China has the largest market for electric vehicles, the share of electric vehicles in the overall automotive sales is still very small in the country. Hence, the country is expected to show further adoption of electric vehicles in the near future; thereby, holding a significant market share in the Asia-Pacific EV and its plastics market in the near future.
Key questions addressed by the report
· What is the market growth rate during the forecast period?
· Which segment/region dominates the market in the base year?
· Which segment/region will project the fastest growth in the market during the forecast period?
· How COVID-19 will impact the market growth in 2020 and the coming years?
· Recovery Timeline
· Deviation from the pre-COVID-19 forecast
· Most affected region/segment
· Recommendations
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
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Asia-Pacific Electric Vehicle Plastics Market – Segmentation
By Plastic Type
· Polyvinyl Chloride (PVC)
· Acrylonitrile Butadiene Styrene (ABS)
· Polyamide (PA)
· Polycarbonate (PC)
· Polyurethane (PU)
· Polyamide (PA)
· Polymethylmethacrylate (PMMA)
· Others (Polypropylene)
By Vehicle Type
· Hybrid Electric Vehicles (HEVs)
· Battery Electric Vehicle (BEV)
· Plug-In Hybrid Electric Vehicles (PHEVs)
Asia-Pacific Electric Vehicle Plastics Market – Segmentation by Region
· China
· India
· Japan
Rest of Asia-Pacific
Company Profiles
· Asahi Kasei Corp.
· BASF SE
· DuPont de Nemours, Inc.
· Formosa Plastics Corp.
· Mitsui Chemicals, Inc.
· Mitsubishi Chemical Corp.
· LG Chem Ltd.
· Reliance Industries Ltd.
· SABIC
· Sumitomo Chemical Co., Ltd.
· UBE Industries, Ltd.
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