Indian electric vehicle plastics market is estimated to grow significantly during the forecast period. The market is mainly driven due to the growing demand for electric vehicles in the country coupled with significant support by the government for the electric vehicle. Moreover, the Indian government is focusing on encouraging the adoption of electric vehicles in the country. For instance, in February 2019, the government approved the proposal for the implementation of the “Faster Adoption and Manufacturing of Electric Vehicles in India Phase II” (FAME Phase II) scheme that reduces the upfront purchase price of hybrid and electric vehicles. The Phase II scheme includes the allocation of a $1.4 billion budget to encourage the uptake of electric vehicles and is implemented over a period of three years from April 2019.
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The Indian market for electric vehicle plastics is segregated on the basis of plastic-type and vehicle type. Based on the plastic-type, the market is further classified into polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), polyurethane (PU), polymethylmethacrylate (PMMA), and others (Polypropylene). Based on the vehicle type, the Indian electric vehicle plastics market is further segmented into two-wheelers, passenger cars, and commercial vehicles. Electric two-wheeler segment is expected to witness significant growth in the Indian market with the continuous entry of new players.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Indian Electric Vehicle Plastics Market by Plastic Type
- Polyvinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyurethane (PU)
- Polyamide (PA)
- Polymethylmethacrylate (PMMA)
- Others (Polypropylene)
Indian Electric Vehicle Plastics Market by Vehicle Type
- Two-Wheeler
- Passenger Cars
- Commercial Vehicle
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.
The Report Covers
- Comprehensive research methodology of the Indian electric vehicle plastics market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Indian electric vehicle plastics market.
- Insights about market determinants that are stimulating the Indian electric vehicle plastics industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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