Electric Vehicle Plastics Market Analysis | Growth and Dynamics | Forecast To 2025

1. Electric Vehicle Plastics Market Analysis | Growth and Dynamics | Forecast To 2025 “Global Electric Vehicle Plastics Market report includes in-depth analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment and future outlook.” An electric vehicle uses one or more electric motors or traction motor for propulsion. It may be powered via a collector system by electricity or may be self-contained with a battery or generator to convert fuel into electricity. These include road & rail vehicles, surface & underwater vessels, electric aircraft & electric spacecraft. On contrary, to traditional vehicles which possessed internal combustion engine (ICE) is now getting blurred with usage of electric vehicles which run on conventional energy or electricity. With the growing approach towards electric vehicles (EV), plastic materials play a pivotal role in helping to reduce carbon emissions or dependence on petroleum. By using plastics in EV, the weight of the vehicle can be reduced upto 40%. Additionally, high performance polymers and elastomers are used to integrate components and functions. The miniaturization helps in reducing space and improves packaging. The major market drivers for the global electric vehicle plastics market share include strict emission norms & regulations leading to minimizing weight of passenger cars& government initiatives to encourage adoption for electric vehicles. Therefore, the electric vehicle plastics market share is estimated to grow at a higher CAGR during the forecast period. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry- reports/electric-vehicle-plastics-market/request-sample

2. However, a key factor restraining the market share is the lack of charging stations for BEV operated vehicles & HEV operated vehicles. Thus, charging infrastructure is significant for the growth of electric vehicles as in case of BEV and PHEV. On the basis of vehicle type, the global electric vehicle plastics market share is segmented as BEV, HEV, PHEV. BEV segment is likely to dominate the global market share for the forecast period owing to rising innovations, environmental concerns, strict emission regulation and norms. Additionally, government initiatives in the form of introducing various tax & non-tax incentives for electric vehicle owners have boosted the plastic growth employed in these BEVs. On the basis of material, the global electric vehicle plastics market share is segmented as PP, PE, ABS, PVC, PA, Nylon 6/6, Nylon 6, polycarbonate, PVB and other engineering resins. PP is the fastest growing segment owing to features like better heat resistance, protection from UV rays, high strength & flexibility. On the basis of application, the global market for electric vehicle plastics market is segmented as interior, exterior, lighting & electric wiring and under the hood. Polyurethanes is estimated to be the largest growing sector and is predicted to dominate the market for the forecast period owing to its use in seating, electric wiring and hard plastic parts. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/electric-vehicle-plastics-market On the basis of geographic segmentation, the global market for electric vehicle plastics market includes North America, Europe, Asia-Oceania, Middle-East & Africa. Asia-Oceania is predicted to dominate the electric vehicle plastics market and is estimated to grow at a higher CAGR during the forecast period. Asia-Oceania is an emerging market for electric vehicles in the recent years. Government initiatives in the form of incentives to support the demand for electric vehicles market have also boosted the market. Faraday Future, a 2015 startup jumped into the electric vehicle market with a view to challenge Tesla electric motor and announced a big news about its plans to build a factor outside Las Vegas and that raised curiosity among the masses especially for its financial support. However, the startup has stopped construction owing to parent’s company financial problems. The Chinese company LeEco has funded Faraday Future but now has lost his fortune owing to the market fluctuations in his own native country. So, now Faraday Future would showcase its first production car at the CES 2017, the international electronics show in Las Vegas from Jan 5-8. The key players in the global electric vehicles market include BASF SE, The Dow Chemical

3. Company, Tesla Motors, Ineos Capital Limited, and the plastics are supplied to automotive OEMs such as Nissan, Chevrolet, and Volkswagen AG. See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/automotive-and-transport Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184