ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET 2022-2028

Chemicals & Materials | Plastic

ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET 2022-2028

Market by Electric Vehicle Type, Component, Plastic Type, and Country Outlook | Forecast 2022-2028

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As per Triton’s research report, the electric vehicle plastics market in the Asia-Pacific is estimated to grow with a CAGR of 31.10% over the forecasting period 2022-2028.




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The countries analyzed in this region include:

•         India

•         China

•         South Korea

•         Japan

•         ASEAN Countries

•         Australia & New Zealand

•         Rest of Asia-Pacific

The market in this region is expected to witness prolific growth over the estimated period. The demand for plastic is expanding rapidly owing to the surge in the manufacturing of electric and hybrid electric vehicles. These factors are anticipated to direct the electric vehicle plastics market on a growth path. On the other hand, the volatile prices of raw materials are a concern for manufacturers in the region.

In China, electric vehicle hit record sales almost every month in 2021. This can be attributed to the ramping up of EVs with high-quality variations, along with the development of charging stations across the country and government incentives for the same. The $4200 Wuling EV minicar has seen immense popularity among buyers, outselling Tesla so far this year. Other high-in-demand new EVs include Xpeng and Nio, with prices matching Tesla’s. China is leading the global EV development, with its government targeting 7 million unit sales by 2025. This implies that, within the next decade, 1 in every 5 sales in the Chinese automobile market would be an EV or hybrid EV. The development of the electric vehicle market is beneficial for the growth of the EV plastic market in the country.

APB, a startup in Japan, is looking to start the commercial production of a lithium-ion battery this year. However, unlike most lithium-ion batteries, the company plans to make all its parts entirely out of plastic, with a view to make the power cells safer. Lithium-ion batteries are used in a range of products, from smartphones to electric vehicles. However, a series of accidents with batteries reportedly heating up and catching fire have been reported. Polymers exhibit higher resistance to electric currents, and therefore, APB’s batteries would not dramatically heat up. Such developments are expected to foster the growth of the electric vehicle plastics market in Japan in the coming years.

A hybrid electric vehicle (HEV) is powered by an intrinsic combustion engine (ICE), combined with a single or multiple electric motors that use the energy stored in batteries. HEVs provide the benefits of both, a high-fuel economy as well as low tailpipe emissions with the range and power of conventional vehicles. On the other hand, a plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle equipped with rechargeable batteries, which can be fully charged by connecting a plug to an external electric source of power. The studied report assesses the market’s growth based on electric vehicle type, component, and plastic type. Here, the electric vehicle type segment comprises BEV and HEV/PHEV.

Leading companies considered in the electric vehicle plastics market include Ineos Capital Ltd, Sumimoto Chemical Co Ltd, Plastic Omnium, BASF SE, Asahi Kasei Corp., Mitsui Chemicals, and Covestro AG.

Sumitomo Chemical Co Ltd or SCL is a major chemical company. It is headquartered in Tokyo, Japan. The company caters to plastic, petrochemicals, pharmaceuticals, home appliances, energy, and other industries. Sumitomo Chemical and other companies in Japan have introduced an EV prototype in a potential breakthrough toward a greater driving range, which is nearly 40% lighter than comparable existing vehicles. This prototype can carry three occupants. Also, its product, branded as SUMIKASUPER E101, has applications in automotive interiors and the engine compartment of electric vehicles. SCL was founded in 1913 and has approximately 35,000 employees.

 

 

Key deliverables of the report:

·       Market CAGR during the forecasting years 2022-2028

·       Detailed data highlighting key insights, industry components, and market strategies

·     Comprehensive information and estimation of the electric vehicle plastics market revenue growth in Asia-Pacific and its influence on the parent market

·       In-depth study of forthcoming trends in consumer behavioral patterns

·       A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces

·     A wide-ranging study of factors that will challenge the APAC electric vehicle plastics market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET – SUMMARY    

2. INDUSTRY OUTLOOK 

2.1. IMPACT OF COVID-19 ON THE ELECTRIC VEHICLE PLASTICS INDUSTRY 

2.2. EVOLUTION & TRANSITION OF ELECTRIC VEHICLE PLASTICS        

2.3. KEY INSIGHTS    

2.3.1. USAGE OF ANTI-MICROBIAL PLASTICS/ADDITIVES IN ELECTRIC VEHICLES         

2.3.2. USE OF BIOPLASTIC IN ELECTRIC VEHICLES        

2.3.3. INCREASE IN ELECTRIC BUS & HEAVY-DUTY TRUCK (HDT) REGISTRATION IN 2020     

2.4. PORTER’S FIVE FORCES ANALYSIS 

2.4.1. THREAT OF NEW ENTRANTS    

2.4.2. THREAT OF SUBSTITUTE

2.4.3. BARGAINING POWER OF BUYERS      

2.4.4. BARGAINING POWER OF SUPPLIERS 

2.4.5. THREAT OF COMPETITIVE RIVALRY   

2.5. KEY IMPACT ANALYSIS

2.5.1. SUPERIOR TECHNOLOGY        

2.5.2. APPLICATION        

2.5.3. EFFICIENCY

2.5.4. COST-EFFECTIVENESS   

2.6. MARKET ATTRACTIVENESS INDEX  

2.7. VENDOR SCORECARD  

2.8. INDUSTRY COMPONENTS      

2.9. REGULATORY FRAMEWORK

2.10. KEY MARKET STRATEGIES  

2.10.1. ACQUISITIONS    

2.10.2. PRODUCT DEVELOPMENTS    

2.10.3. BUSINESS EXPANSIONS         

2.11. MARKET DRIVERS      

2.11.1. INCREASING SIGNIFICANCE OF HIGH-PERFORMANCE PLASTIC TO ASSURE SAFETY AND SECURITY         

2.11.2. EMPHASIS ON ELECTRIC VEHICLE LIGHTWEIGHTING  

2.12. MARKET CHALLENGES         

2.12.1. SLOW ADOPTION OF ELECTRIC VEHICLES

2.12.2. ELECTRIC VEHICLE PLASTIC RECYCLING ISSUES        

2.13. MARKET OPPORTUNITIES    

2.13.1. ENHANCED POPULARITY OF ELECTRIC MICROMOBILITY DUE TO THE PANDEMIC

2.13.2. SPENDING ON ELECTRIC VEHICLES BY BOTH CONSUMERS & GOVERNMENT ON THE RISE   

2.13.3. STRINGENT EMISSION STANDARDS TO DRIVE ELECTRIFICATION   

3. ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY ELECTRIC VEHICLE TYPE   

3.1. BEV 

3.2. HEV/PHEV

4. ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY COMPONENT   

4.1. POWERTRAIN     

4.2. EXTERNAL

4.3. INTERNAL 

5. ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY PLASTIC TYPE 

5.1. POLYURETHANE (PU)   

5.2. POLYAMIDE (PA) 

5.3. ACRYLONITRILE BUTADIENE STYRENE (ABS)     

5.4. POLYPROPYLENE (PP) 

5.5. POLYCARBONATE (PC)

5.6. OTHER ELECTRIC VEHICLE PLASTIC TYPES       

6. ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET – COUNTRY OUTLOOK                            

6.1. CHINA       

6.2. JAPAN       

6.3. INDIA         

6.4. SOUTH KOREA   

6.5. ASEAN COUNTRIES      

6.6. AUSTRALIA & NEW ZEALAND 

6.7. REST OF ASIA-PACIFIC           

7. COMPETITIVE LANDSCAPE  

7.1. DUPONT              

7.2. DOW CHEMICAL COMPANY              

7.3. EVONIK INDUSTRIES              

7.4. INEOS CAPITAL LTD     

7.5. BASF SE              

7.6. PLASTIC OMNIUM                   

7.7. MITSUI CHEMICALS                

7.8. COVESTRO AG             

7.9. ASAHI KASEI CORP.     

7.10. LANXESS CORPORATION     

7.11. LYONDELLBASELL INDUSTRIES NV

7.12. SUMIMOTO CHEMICAL CO LTD                

7.13. MOMENTIVE PERFORMANCE MATERIALS

7.14. HANWHA AZDEL INC

8. RESEARCH METHODOLOGY & SCOPE    

8.1. RESEARCH SCOPE & DELIVERABLES                  

8.2. SOURCES OF DATA                

8.3. RESEARCH METHODOLOGY             

List of Tables

TABLE 1: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: REGULATORY FRAMEWORK

TABLE 4: LIST OF ACQUISITIONS

TABLE 5: LIST OF PRODUCT DEVELOPMENTS

TABLE 6: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

TABLE 7: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY ELECTRIC VEHICLE TYPE, 2022-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY PLASTIC TYPE, 2022-2028 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: PLASTIC USE IN ELECTRIC VEHICLES

FIGURE 2: KEY BUYING IMPACT ANALYSIS

FIGURE 3: MARKET ATTRACTIVENESS INDEX

FIGURE 4: INDUSTRY COMPONENTS

FIGURE 5: RATIO OF PUBLIC CHARGERS PER EV STOCK, BY COUNTRY, 2020

FIGURE 6: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, ELECTRIC VEHICLE TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 7: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY BEV, 2022-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY HEV/PHEV, 2022-2028 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, COMPONENT OUTLOOK, 2021 & 2028 (IN %)

FIGURE 10: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY POWERTRAIN, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY EXTERNAL, 2022-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY INTERNAL, 2022-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, PLASTIC TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 14: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY POLYURETHANE, 2022-2028 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY POLYAMIDE, 2022-2028 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY ACRYLONITRILE BUTADIENE STYRENE, 2022-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY POLYPROPYLENE, 2022-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY POLYCARBONATE, 2022-2028 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, BY OTHER ELECTRIC VEHICLE PLASTICS, 2022-2028 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 21: CHINA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 22: JAPAN ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: INDIA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 24: SOUTH KOREA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 25: ASEAN COUNTRIES ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 26: AUSTRALIA & NEW ZEALAND ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 27: REST OF ASIA-PACIFIC ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

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