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ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET FORECAST 2022-2030

The Asia-Pacific electric vehicle plastic market is expected to record a CAGR of 29.35% during the forecast period, 2022-2030, and is predicted to reach a revenue of $7211.68 million by 2030.

ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET FORECAST 2022-2030

Asia-Pacific Electric Vehicle Plastic Market by Vehicle (BEV, PHEV/HEV) Market by Application (Powertrain, External, Internal) Market by Plastic (Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polypropylene, Other Plastics) by Geography

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The Asia-Pacific electric vehicle plastic market is expected to record a CAGR of 29.35% during the forecast period, 2022-2030, and is predicted to reach a revenue of $7211.68 million by 2030.

The electric vehicle plastic market growth in Asia-Pacific is attributed to the rising demand for plastic parts and accessories in electric vehicles and the thriving electric vehicle industry. Also, the increasing demand for lightweight vehicles for minimizing fuel consumption facilitates growth opportunities for the analyzed market, given the rising fuel prices.

Asia-Pacific Electric Vehicle Plastic Market

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The Asia-Pacific electric vehicle plastic market growth analysis includes the evaluation of Vietnam, Japan, Australia & New Zealand, China, Thailand, South Korea, Indonesia, India, and Rest of Asia-Pacific. China is among the top nations globally for EV adoption, accounting for 12% of all new electric vehicle sales in 2021. The carmakers are extending their all-electric vehicle offerings with brands like Xpeng, NIO, Li Xiang, BYD, etc. Also, the country has strengthened its plastics supply chain. In addition, the growing living standards and stringent environmental policies have propelled the demand for sustainable high-performance materials in the country. The new state-of-the-art compounding line is set to help sustain the demand for high-performance materials like Stanyl PA 46, ForTii PA 4T/PPA, Arnitel thermoplastic copolyester, Arnite PET/PBT, etc.

Further, the government policies to curb carbon emissions and the carbon neutrality commitments by 2060 are facilitating a boom in the green-tech sector in China. Accordingly, the government has announced mandates to encourage the manufacturing of quality electric vehicles that can travel long ranges on a single charge. The mandates also entail rewarding manufacturers who meet these requirements with credits. Moreover, the electric vehicle sales hit record sales almost every month in 2021, accredited to the high quality variations, development of charging stations, and government initiatives. Such factors drive market growth in China.

Plastic consumption is on the rise in South Korea. There is an increased inclination toward single-use plastic items. The country’s general trading companies are trying to transition into eco-friendly companies by entering the electric vehicle machines and parts businesses. Also, the country plans to promote the pyrolysis plastic recycling adoption for converting waste plastics and vinyl into processed oil. This oil can be used as a raw material or fuel to produce recycled petrochemical products, which can be further used for electric vehicle plastic. Moreover, the Ministry of Environment has formed a task force that encompasses academics, private companies, and research institutes, to popularize pyrolysis recycling. Such factors boost growth opportunities in South Korea.

The segmentation of the Asia-Pacific electric vehicle plastic market includes plastic, vehicle, and application. The vehicle segment includes BEV and PHEV/HEV.

Battery electric vehicles (BEVs) are the simplest form of electric vehicles that use electrical power from a single source, the electrochemical battery, to power one more electric motors. They operate on stored electricity, and their central components include a high-voltage battery, a controller to manage the power electronics, and one or more electric motors. Most BEVs do not need a reduction gearbox or complex engine management systems. Therefore, the complete drivetrain is less complex compared to conventional vehicles with internal combustion engines.

Some of the eminent players in the Asia-Pacific electric vehicle plastic market include Mitsui Chemical, Sumitomo Chemical Co Ltd, Plastic Omnium, Momentive Performance Materials, etc.

Sumitomo Chemical Co Ltd is a major chemical company in Japan. The product portfolio includes methanol, resorcinol, alumina, cyclohexanone, etc. It caters to industries like pharmaceuticals, home appliances, energy, plastic, petrochemicals, etc. It is headquartered in Chuo City, Tokyo, Japan.

One of its key products, SUMIKASUPER E101, has application in engine compartments and automotive interiors of electric vehicles.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed Vehicle, Application, Plastic
Countries Analyzed Vietnam, Japan, Australia & New Zealand, China, Thailand, South Korea, Indonesia, India, and Rest of Asia-Pacific
Companies Analyzed

Asahi Kasei Corporation, BASF Group, Covestro AG, Dow Inc, DuPont, Evonik Industries, Hanwha Azdel Inc, INEOS Capital Ltd, Lanxess AG, LyondellBasell Industries NV, Mitsui Chemical, Momentive Performance Materials, Plastic Omnium, Sumitomo Chemical Co Ltd

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • GROWING EMPHASIS ON ELECTRIC VEHICLE LIGHTWEIGHTING
        • INCREASING SIGNIFICANCE OF HIGH-PERFORMANCE PLASTIC
      • KEY RESTRAINTS
        • RECYCLING ISSUES
        • SLOW ADOPTION OF ELECTRIC VEHICLES
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON ELECTRIC VEHICLE PLASTIC MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • SUPERIOR TECHNOLOGY
        • APPLICATION
        • EFFICIENCY
        • COST- EFFECTIVENESS
      • REGULATORY FRAMEWORK
    2. MARKET BY VEHICLE
      • BEV
      • PHEV/ HEV
    3. MARKET BY APPLICATION
      • POWERTRAIN
      • EXTERNAL
      • INTERNAL
    4. MARKET BY PLASTIC
      • ACRYLONITRILE BUTADIENE STYRENE (ABS)
      • POLYAMIDE (PA)
      • POLYCARBONATE (PC)
      • POLYURETHANE (PU)
      • POLYPROPYLENE (PP)
      • OTHER PLASTICS
    5. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • ASAHI KASEI CORPORATION
        • BASF GROUP
        • COVESTRO AG
        • DOW INC
        • DUPONT
        • EVONIK INDUSTRIES
        • HANWHA AZDEL INC
        • INEOS CAPITAL LTD
        • LANXESS AG
        • LYONDELLBASELL INDUSTRIES NV
        • MITSUI CHEMICAL
        • MOMENTIVE PERFORMANCE MATERIALS
        • PLASTIC OMNIUM
        • SUMITOMO CHEMICAL CO LTD

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – ELECTRIC VEHICLE PLASTIC

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY VEHICLE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 4: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY VEHICLE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 5: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY PLASTIC, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY PLASTIC, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: LEADING PLAYERS OPERATING IN ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES   

    LIST OF FIGURES

    FIGURE 1: RATIO OF PUBLIC CHARGERS PER EV STOCK BY COUNTRY, 2020

    FIGURE 2: KEY MARKET TRENDS

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: VALUE CHAIN ANALYSIS

    FIGURE 7: KEY BUYING CRITERIA

    FIGURE 8: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, GROWTH POTENTIAL, BY VEHICLE, IN 2021

    FIGURE 9: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY BEV, 2022-2030 (IN $ MILLION)

    FIGURE 10: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY PHEV/ HEV, 2022-2030 (IN $ MILLION)

    FIGURE 11: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 12: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY POWERTRAIN, 2022-2030 (IN $ MILLION)

    FIGURE 13: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY EXTERNAL, 2022-2030 (IN $ MILLION)

    FIGURE 14: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY INTERNAL, 2022-2030 (IN $ MILLION)

    FIGURE 15: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, GROWTH POTENTIAL, BY PLASTIC, IN 2021

    FIGURE 16: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY ACRYLONITRILE BUTADIENE STYRENE, 2022-2030 (IN $ MILLION)

    FIGURE 17: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY POLYAMIDE (PA), 2022-2030 (IN $ MILLION)

    FIGURE 18: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY POLYCARBONATE (PC), 2022-2030 (IN $ MILLION)

    FIGURE 19: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY POLYURETHANE (PU), 2022-2030 (IN $ MILLION)

    FIGURE 20: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY POLYPROPYLENE (PP), 2022-2030 (IN $ MILLION)

    FIGURE 21: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, BY OTHER PLASTICS, 2022-2030 (IN $ MILLION)

    FIGURE 22: ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 23: CHINA ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 24: JAPAN ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 25: INDIA ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 26: SOUTH KOREA ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 27: INDONESIA ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 28: THAILAND ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 29: VIETNAM ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 30: AUSTRALIA & NEW ZEALAND ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 31: REST OF ASIA-PACIFIC ELECTRIC VEHICLE PLASTIC MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. MARKET BY VEHICLE
      • BEV
      • PHEV/ HEV
    2. MARKET BY APPLICATION
      • POWERTRAIN
      • EXTERNAL
      • INTERNAL
    3. MARKET BY PLASTIC
      • ACRYLONITRILE BUTADIENE STYRENE (ABS)
      • POLYAMIDE (PA)
      • POLYCARBONATE (PC)
      • POLYURETHANE (PU)
      • POLYPROPYLENE (PP)
      • OTHER PLASTICS

    To request a free sample copy of this report, please complete the form below :

    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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