MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028

Chemicals & Materials | Plastic

MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028

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

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A study by Triton Market Research shows that the electric vehicle plastics market in the Middle East and Africa will develop with a CAGR of 25.78% in the forecast duration 2022-2028.


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The countries studied in this market include:

•         Saudi Arabia

•         Turkey

•         The United Arab Emirates

•         South Africa

•         Rest of Middle East & Africa

Electric cars are growing in popularity in the region with the growing availability of EV charging stations. Moreover, cost-effectiveness, convenience, environment sustainability, incorporation of advanced technology, and several government policies like incentives for equipment purchase, significant rebates, and preferential rates are among the factors propelling the demand for these vehicles in the Middle East and Africa. This is expected to influence the demand for electric vehicle plastics as well. However, the lack of awareness among a large section of the masses is hampering the sales of EVs in the region.

The Government of the UAE is encouraging the adoption of EVs as part of its goals under the UAE Vision 2021. In addition, the Road Transport Authority (RTA) and the Dubai Electricity and Water Authority (DEWA) have joined forces for the development of the nation’s electric vehicle market. For this, they have installed charging stations and are also providing incentives like free parking and toll & registration fees exemption. Owing to these trends, the demand for EV plastics in the country is expected to more than double over the forecasted period.

In Turkey, a number of renowned international automotive companies manufacture and assemble their vehicles. Moreover, a steady rise in the electric vehicle adoption and their charging stations has been observed in the country, with new developments in the charging infrastructure. The Turkish government has also announced its massive investment to increase the production of electric vehicles. Such favorable conditions are aiding the adoption of electric vehicles, which further offers numerous growth prospects to the nation’s electric vehicle plastic market.

A powertrain in a vehicle refers to an assembly of every component that propels it forward. The powertrain generates power from the car’s engine and delivers it to the wheels on the ground. Its key components include an engine, driveshaft, axles, differential, and transmission. The use of plastics can reduce the number of parts required per component. They are suitable for powertrains as they can reduce the overall weight & costs and dampen the noise & vibrations. The studied report assesses the market’s growth according to electric vehicle type, component, and plastic type. Here, the component segment comprises powertrain, external, and internal.

The prominent companies in the electric vehicle plastics market include Lanxess Corporation, Asahi Kasei Corp., Covestro AG, Dow Chemical Company, BASF SE, Evonik Industries, and Hanwha Azdel Inc.

Covestro AG is a company producing precursors for high-performance plastic polycarbonate, polyurethane foams, and precursors for sealants, coatings, adhesives, and specialty products such as films. The company is working continuously to advance its products, technologies, and application solutions further. Covestro has shown a positive growth rate after 2020. Its revenue growth rate jumped to 48.5% in FY2021, which is significantly larger than the industry average post the pandemic. The company has marked its presence in 30 countries worldwide, with R&D facilities in all continents. Its diversified product base across all industry segments and a wide range of plastic automotive parts in interior, exterior, and powertrain segments are the strength of Covestro AG.

 

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 the Middle East and Africa 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 MEA 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. MIDDLE EAST AND AFRICA 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. MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY ELECTRIC VEHICLE TYPE        

3.1. BEV 

3.2. HEV/PHEV

4. MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY COMPONENT

4.1. POWERTRAIN     

4.2. EXTERNAL

4.3. INTERNAL 

5. MIDDLE EAST AND AFRICA 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. MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET – COUNTRY OUTLOOK

6.1. UNITED ARAB EMIRATES       

6.2. SAUDI ARABIA    

6.3. TURKEY    

6.4. SOUTH AFRICA   

6.5. REST OF MIDDLE EAST & AFRICA    

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: MIDDLE EAST AND AFRICA 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: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY ELECTRIC VEHICLE TYPE, 2022-2028 (IN $ MILLION)

TABLE 8: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)

TABLE 9: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY PLASTIC TYPE, 2022-2028 (IN $ MILLION)

TABLE 10: MIDDLE EAST AND AFRICA 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: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, ELECTRIC VEHICLE TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 7: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY BEV, 2022-2028 (IN $ MILLION)

FIGURE 8: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY PHEV/ HEV, 2022-2028 (IN $ MILLION)

FIGURE 9: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, COMPONENT OUTLOOK, 2021 & 2028 (IN %)

FIGURE 10: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POWERTRAIN, 2022-2028 (IN $ MILLION)

FIGURE 11: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY EXTERNAL, 2022-2028 (IN $ MILLION)

FIGURE 12: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY INTERNAL, 2022-2028 (IN $ MILLION)

FIGURE 13: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, PLASTIC TYPE OUTLOOK, 2021 & 2028 (IN %)

FIGURE 14: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYURETHANE, 2022-2028 (IN $ MILLION)

FIGURE 15: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYAMIDE, 2022-2028 (IN $ MILLION)

FIGURE 16: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY ACRYLONITRILE BUTADIENE STYRENE, 2022-2028 (IN $ MILLION)

FIGURE 17: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYPROPYLENE, 2022-2028 (IN $ MILLION)

FIGURE 18: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYCARBONATE, 2022-2028 (IN $ MILLION)

FIGURE 19: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY OTHER ELECTRIC VEHICLE PLASTICS, 2022-2028 (IN $ MILLION)

FIGURE 20: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 21: UNITED ARAB EMIRATES ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

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

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

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

FIGURE 25: REST OF MIDDLE EAST & AFRICA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)

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