Global Electric Vehicle Plastic Components Market Synopsis:
Global Electric Vehicle Plastic Components Market Size Was Valued at USD 3.7 Billion In 2022 And Is Projected to Reach USD 26.50 Billion By 2030, Growing at A CAGR of 27.9% From 2023 To 2030.
Electric vehicles (EVs) comprise various plastic components contributing to their design, functionality, and efficiency. These plastic parts are essential for light-weighting, insulation, safety, and aesthetics in an electric vehicle.
- Plastic components play pivotal roles in electric vehicles (EVs), spanning battery casings, interior elements, and exterior body panels. Battery casings, crafted from durable plastics, shield batteries from environmental factors, ensuring safety and optimizing thermal conditions. Simultaneously, interior plastics—seen in dashboards, seats, and trim—offer lightweight, customizable, and stylish solutions, enhancing the cabin experience.
- Externally, EVs often employ lightweight plastics for body panels, benefiting from reduced vehicle weight and improved aerodynamics, which bolster overall efficiency. These varied applications highlight the versatility of plastics in enhancing EV functionalities while meeting safety and efficiency standards.
- Manufacturers and original equipment manufacturers (OEMs) favor plastic components due to their cost-effectiveness and ease of molding compared to traditional materials like metals. This cost efficiency and flexibility in design streamline manufacturing processes, fostering innovation. Furthermore, the use of plastics aids EVs in meeting regulatory emissions standards, contributing to heightened energy efficiency and reduced environmental impact.
Global Electric Vehicle Plastic Components Market Trend Analysis:
Rising Demand for Thermally Stable Plastics in Electric Vehicles
- The preference of Original Equipment Manufacturers (OEMs) for thermally stable plastics in heat-sensitive applications serves as a significant driver of the global Electric Vehicle Plastic Components Market. Thermally stable plastics, such as polyphenylene sulfide (PPS), polyetheretherketone (PEEK), and polyamide-imide (PAI), are increasingly favored by OEMs due to their ability to withstand high temperatures without compromising structural integrity or performance.
- In electric vehicles, components like battery casings, connectors, and electrical insulators are subjected to elevated temperatures generated during operation. Thus, the demand for plastics capable of maintaining stability in such conditions is paramount. These thermally stable plastics offer properties like high melting points, excellent dimensional stability, and resistance to thermal degradation, making them ideal for use in heat-sensitive areas within EVs.
- Insights from the industry indicate that the shift toward electric mobility has accelerated the need for durable and reliable materials. As OEMs focus on improving the thermal management of electric vehicles, the adoption of thermally stable plastics is expected to surge, driving the growth of the Electric Vehicle Plastic Components Market. This trend aligns with the industry's pursuit of lightweight, cost-effective, and heat-resistant materials to ensure the efficient and safe operation of electric vehicles.
Green Revolution in Electric Vehicles
- The surge in sustainability consciousness has propelled bio-based and recyclable plastics to the forefront, not just as eco-friendly alternatives but as transformative elements in the Global Electric Vehicle Plastic Components Market. By advocating and embracing these solutions, the automotive industry can effectively tackle environmental concerns while tapping into an expanding demographic of eco-conscious consumers.
- Bio-based plastics, derived from renewable sources like plant-based materials, and recyclable plastics that can be repurposed after their lifecycle, offer a sustainable edge over traditional petroleum-based plastics. These materials reduce dependency on fossil fuels, lower carbon footprints, and contribute to a circular economy model by minimizing waste.
- Perceptions indicate a paradigm shift in consumer behavior, with a growing preference for eco-friendly products and sustainable practices. This inclination has a significant impact on purchasing decisions, driving automakers to adopt sustainable materials, including bio-based and recyclable plastics, in electric vehicle manufacturing.
- Furthermore, regulatory bodies are increasingly emphasizing environmental standards, incentivizing the adoption of sustainable materials in automotive production. Leveraging bio-based and recyclable plastics not only aligns with environmental goals but also positions manufacturers favorably in a market increasingly inclined toward sustainable and environmentally responsible products. This presents a substantial opportunity for the Electric Vehicle Plastic Components Market to expand its offerings, cater to evolving consumer demands, and contribute positively to the planet's sustainability objectives.
Global Electric Vehicle Plastic Components Market Segment Analysis:
By Type, Trim segment dominates the global electric vehicle plastic components market
- This segment, including components like door panels, roof linings, seat trim, and steering covers, holds the largest market share, estimated at around 26.5%.
- Interior trim plays a crucial role in shaping the overall look and feel of a vehicle's interior. Plastics offer designers more flexibility and freedom to create aesthetically pleasing and comfortable spaces, contributing to the premium feel of EVs.
- Using plastic components in the interior helps reduce the overall weight of the vehicle, leading to improved range and efficiency, vital aspects for EVs. Compared to other materials, plastics offer a cost-effective solution for interior components, making them attractive to car manufacturers.
By Material, Polypropylene (PP) segment hold a 42% market share during the forecast period
- Polypropylene (PP) holds a significant share in the global electric vehicle plastic components market in terms of material type. PP is a thermoplastic polymer widely used in various industries, including automotive manufacturing. In the context of electric vehicles.
- PP is relatively lightweight, contributing to the overall weight reduction of electric vehicles, which is crucial for improving energy efficiency and range. It offers good resistance to fatigue, impact, and chemical degradation, making it suitable for various automotive components subjected to different environmental conditions.
- PP is known for its cost efficiency compared to some other engineering plastics, making it an attractive choice for mass production in the automotive industry. It can be easily molded into different shapes and configurations, allowing for versatile designs in electric vehicle components.
Global Electric Vehicle Plastic Components Market Regional Insights:
Asia Pacific Dominates the Market Over the Forecast Period
- The Asia-Pacific region holds a commanding position in the Global Electric Vehicle Plastic Components Market, securing an impressive 54.7% market share in 2022. Asia-Pacific, notably countries like China, Japan, South Korea, and India, stands as a manufacturing powerhouse in the automotive sector. The region's advanced production capabilities, coupled with skilled labor and infrastructure, contribute significantly to its dominance in producing electric vehicle plastic components.
- The Asia-Pacific region has experienced a rapid surge in the production and adoption of electric vehicles. Government incentives, supportive policies, and investments in charging infrastructure have spurred consumer interest, driving the demand for electric vehicles and associated plastic components.
- The region boasts a well-established and efficient supply chain network for automotive components, including plastic parts. This well-oiled system ensures seamless production and distribution of electric vehicle plastic components, catering to the increasing demand effectively.
- Continuous investments in research, development, and technological innovation within the region drive advancements in materials and manufacturing processes. This innovation leads to the creation of high-performance, cost-effective plastic components for electric vehicles, further strengthening the region's dominance in the market.
Global Electric Vehicle Plastic Components Market Top Key Players:
- Lear Corporation (U.S.)
- Johnson Controls International (U.S.)
- Plasticom International (U.S.)
- Gentex Corporation (U.S.)
- Magna International (Canada)
- Continental AG (Germany)
- Brose Fahrzeugteile GmbH & Co. KG (Germany)
- TSG Holding GmbH (Germany)
- Covestro AG (Germany)
- Saint-Gobain (France)
- Plastic Omnium (France)
- Pirelli & C. S.p.A. (Italy)
- Adient plc (Ireland)
- Huayu Automotive Group (China)
- Yanfeng Automotive Trim Systems (China)
- Motherson Sumi Systems Limited (India)
- Yazaki Corporation (Japan)
- Sumitomo Electric Industries (Japan)
- Denso Corporation (Japan)
- Sekisui Chemical Co., Ltd. (Japan)
- Marelli Holdings Co., Ltd. (Japan) And Other Major Players
Global Electric Vehicle Plastic Components Market |
||||
Base Year: |
2022 |
Forecast Period: |
2023-2030 |
|
Historical Data: |
2017 to 2022 |
Market Size in 2022: |
USD 3.7 Bn. |
|
CAGR (2023-2030): |
27.9% |
Market Size in 2030: |
USD 26.50 Bn. |
|
Segments Covered: |
By Type |
|
|
|
By Material |
|
|
||
By Region |
|
|
||
Key Market Drivers: |
|
|||
Key Market Restraints: |
|
|||
Key Opportunities: |
|
|||
Companies Covered in the Report: |
|
- INTRODUCTION
- RESEARCH OBJECTIVES
- RESEARCH METHODOLOGY
- RESEARCH PROCESS
- SCOPE AND COVERAGE
- Market Definition
- Key Questions Answered
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GROWTH OPPORTUNITIES BY SEGMENT
- MARKET LANDSCAPE
- PORTER’S FIVE FORCES ANALYSIS
- Bargaining Power Of Supplier
- Threat Of New Entrants
- Threat Of Substitutes
- Competitive Rivalry
- Bargaining Power Among Buyers
- INDUSTRY VALUE CHAIN ANALYSIS
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- Challenges
- MARKET TREND ANALYSIS
- REGULATORY LANDSCAPE
- PESTLE ANALYSIS
- PRICE TREND ANALYSIS
- PATENT ANALYSIS
- TECHNOLOGY EVALUATION
- MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
- Geopolitical Market Disruptions
- Supply Chain Disruptions
- Instability in Emerging Markets
- ECOSYSTEM
- PORTER’S FIVE FORCES ANALYSIS
- ELECTRIC VEHICLE PLASTIC COMPONENTS MARKET BY TYPE (2016-2030)
- ELECTRIC VEHICLE PLASTIC COMPONENTS MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- DASHBOARD
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 – 2030F)
- Historic And Forecasted Market Size in Volume (2016 – 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- SEAT
- TRIM
- BUMPER
- BODY
- OTHER
- ELECTRIC VEHICLE PLASTIC COMPONENTS MARKET BY MATERIAL (2016-2030)
- ELECTRIC VEHICLE PLASTIC COMPONENTS MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- PA
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 – 2030F)
- Historic And Forecasted Market Size in Volume (2016 – 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- PP
- PC
- PVB
- PU
- PVC
- COMPANY PROFILES AND COMPETITIVE ANALYSIS
- COMPETITIVE LANDSCAPE
- Competitive Positioning
- ELECTRIC VEHICLE PLASTIC COMPONENTS Market Share By Manufacturer (2022)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- LEAR CORPORATION (U.S.)
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves And Recent Developments
- SWOT Analysis
- JOHNSON CONTROLS INTERNATIONAL (U.S.)
- PLASTICOM INTERNATIONAL (U.S.)
- GENTEX CORPORATION (U.S.)
- MAGNA INTERNATIONAL (CANADA)
- CONTINENTAL AG (GERMANY)
- BROSE FAHRZEUGTEILE GMBH & CO. KG (GERMANY)
- TSG HOLDING GMBH (GERMANY)
- COVESTRO AG (GERMANY)
- SAINT-GOBAIN (FRANCE)
- PLASTIC OMNIUM (FRANCE)
- PIRELLI & C. S.P.A. (ITALY)
- ADIENT PLC (IRELAND)
- HUAYU AUTOMOTIVE GROUP (CHINA)
- YANFENG AUTOMOTIVE TRIM SYSTEMS (CHINA)
- MOTHERSON SUMI SYSTEMS LIMITED (INDIA)
- YAZAKI CORPORATION (JAPAN)
- SUMITOMO ELECTRIC INDUSTRIES (JAPAN)
- DENSO CORPORATION (JAPAN)
- SEKISUI CHEMICAL CO., LTD. (JAPAN)
- MARELLI HOLDINGS CO., LTD. (JAPAN)
- HANON SYSTEMS (SOUTH KOREA)
- COMPETITIVE LANDSCAPE
- GLOBAL ELECTRIC VEHICLE PLASTIC COMPONENTS MARKET BY REGION
- OVERVIEW
- NORTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By TYPE
- Historic And Forecasted Market Size By MATERIAL
- Historic And Forecasted Market Size By Country
- USA
- Canada
- Mexico
- EASTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest Of Eastern Europe
- WESTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Germany
- United Kingdom
- France
- The Netherlands
- Italy
- Spain
- Rest Of Western Europe
- ASIA PACIFIC
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New-Zealand
- Rest Of APAC
- MIDDLE EAST & AFRICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- SOUTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Brazil
- Argentina
- Rest of South America
- INVESTMENT ANALYSIS
- ANALYST VIEWPOINT AND CONCLUSION
- Recommendations and Concluding Analysis
- Potential Market Strategies
Global Electric Vehicle Plastic Components Market |
||||
Base Year: |
2022 |
Forecast Period: |
2023-2030 |
|
Historical Data: |
2017 to 2022 |
Market Size in 2022: |
USD 3.7 Bn. |
|
CAGR (2023-2030): |
27.9% |
Market Size in 2030: |
USD 26.50 Bn. |
|
Segments Covered: |
By Type |
|
|
|
By Material |
|
|
||
By Region |
|
|
||
Key Market Drivers: |
|
|||
Key Market Restraints: |
|
|||
Key Opportunities: |
|
|||
Companies Covered in the Report: |
|
Frequently Asked Questions :
The forecast period in the Global Electric Vehicle Plastic Components Market research report is 2023-2030.
Lear Corporation (U.S.), Johnson Controls International (U.S.), Plasticom International (U.S.), Gentex Corporation (U.S.), Magna International (Canada), Continental AG (Germany), Brose Fahrzeugteile GmbH & Co. KG (Germany), TSG Holding GmbH (Germany), Covestro AG (Germany), Saint-Gobain (France), Plastic Omnium (France), Pirelli & C. S.p.A. (Italy), Adient plc (Ireland), Huayu Automotive Group (China), Yanfeng Automotive Trim Systems (China), Motherson Sumi Systems Limited (India), Yazaki Corporation (Japan), Sumitomo Electric Industries (Japan), Denso Corporation (Japan), Sekisui Chemical Co., Ltd. (Japan), Marelli Holdings Co., Ltd. (Japan), Hanon Systems (South Korea), and Other Major Players.
The Electric Vehicle Plastic Components Market is segmented into Type, Material, and region. By Type, the market is categorized into Dashboard, Seat, Trim, Bumper, Body, Other. By Material, the market is categorized into Pa, Pp, Pc, Pvb, Pu, Pvc. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Electric vehicles (EVs) contain various plastic components that serve different purposes in the vehicle's structure, interior, and functionality. These plastic components contribute to reducing the vehicle's weight, enhancing efficiency, and providing insulation.
Global Electric Vehicle Plastic Components Market Size Was Valued at USD 3.7 Billion In 2022 And Is Projected to Reach USD 26.50 Billion By 2030, Growing at A CAGR of 27.9% From 2023 To 2030.