Electric Vehicle Plastics Market Report 2025

This Electric Vehicle Plastics market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The electric vehicle plastics market size has grown exponentially in recent years. It will grow from $2.72 billion in 2024 to $3.34 billion in 2025 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to a rise in fuel prices, stringent emission regulations, advancements in battery technology, increased consumer demand for sustainable vehicles, government incentives, improvements in lightweight materials, and a high global focus on reducing carbon footprints.

The electric vehicle plastics market size is expected to see exponential growth in the next few years. It will grow to $7.52 billion in 2029 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to advancements in battery technology, government regulations promoting electric vehicles, increasing consumer demand for sustainable materials, innovations in lightweight plastic composites, expansion of charging infrastructure, rising investments in autonomous vehicle technology, and the growing focus on reducing vehicle manufacturing costs. Major trends in the forecast period include bio-based polymers, enhanced recycling techniques, lightweight composite materials, smart polymer integration for self-healing capabilities, increased use of 3D printing for custom parts, development of high-temperature resistant plastics, and advancements in conductive polymers.

The electric vehicle plastics market is poised for growth due to increasing demand for lighter vehicles. These vehicles, which weigh less than traditional models, are in demand because of stricter fuel efficiency standards, environmental concerns regarding emissions, and advancements in materials technology that allow for weight reduction without compromising safety or performance. Using electric vehicle plastics in lighter vehicles reduces weight while maintaining strength and durability, thus improving overall efficiency and performance. These innovative plastics also contribute to better fuel economy and increased range for electric vehicles. For example, according to data from the Federal Reserve Bank of St. Louis in May 2024, sales of lightweight vehicles, including automobiles and trucks, rose from 13.5 million in 2022 to 16.1 million in 2023, indicating the growing demand for lighter vehicles is fueling the electric vehicle plastics market.

Major companies in this market are adopting advanced technologies such as post-consumer recycled-based technology to enhance sustainability and reduce environmental impact. This technology involves incorporating recycled materials from consumers into product manufacturing, reducing environmental harm. For instance, in July 2023, Saudi Basic Industries Corporation (SABIC) introduced PCR-based NORYL resin technology, integrating post-consumer recycled content for environmental benefits while maintaining material performance and sustainability with a reduced carbon footprint. This approach is groundbreaking among polyphenylene ether (PPE)-based materials, utilizing significant recycled content.

In September 2023, ABC Technologies Holdings Inc., a Canada-based automotive systems company, acquired Plastikon Industries Inc. for $130 million. Through this acquisition, ABC Technologies aims to strengthen its position in the automotive manufacturing sector by expanding its product portfolio and enhancing its market reach. Plastikon Industries Inc., a US-based company specializing in plastic manufacturing, focuses on filtration and related products.

Major companies operating in the electric vehicle plastics market are ExxonMobil Corporation, BASF SE, Dow Company, Saudi Basic Industries Corporation (SABIC), Lyondellbasell Industries Holdings B.V., LG Chem Ltd, Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Toray Industries Pvt. Ltd, Sumitomo Chemicals Co. Ltd., Ineos Group Holdings Limited, AGC Chemicals Pvt. Ltd, DuPont de Nemours Inc., Borealis AG, Arkema S.A., Celanese Corp., LANXESS Aktiengesellschaft, Formosa Plastic Corporation, Teijin Limited, Solvay S.A., Kuraray Co. Ltd., Denka Company Limited, Polyplastics Co. Ltd.

North America was the largest region in the electric vehicle plastics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electric vehicle plastics are specialized materials employed in manufacturing components for electric vehicles (EVs). These materials are tailored to fulfill the specific demands of EVs, such as lightweight design, durability, and electrical insulation. They find application in diverse parts such as battery enclosures, interior components, and thermal management systems.

The primary types of electric vehicle plastics include polypropylene (PP), polyamide (PA), polycarbonate (PC), polyethylene (PE), polyurethane (PU), polyvinyl chloride (PVC), polyvinyl butyral (PVB), polybutylene terephthalate (PBT), acrylonitrile butadiene styrene (ABS), and others. Polypropylene is recognized as a versatile thermoplastic polymer extensively valued for its robustness and resilience across various industrial and consumer sectors. These plastics are integrated into electric vehicles such as battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid vehicles (PHEVs). They serve purposes ranging from interior and exterior components to powertrain systems, lighting, and electrical wiring under the hood.

The electric vehicle plastics research report is one of a series of new reports that provides electric vehicle plastics market statistics, including the electric vehicle plastics industry's global market size, regional shares, competitors with an electric vehicle plastics market share, detailed electric vehicle plastics market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle plastics industry. This electric vehicle plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electric vehicle plastics market consists of sales of polyether ketone, polyphenylene sulfide, polyphenylsulfone, and polyoxymethylene. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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