North America Plastics For Electric Vehicle Market is expected to reach US$ 904.89 Mn by 2027


PRESS RELEASE BY The Insight Partners 10 Dec 2020

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Polypropylene Segment to Dominate North America Plastics  For Electric Vehicle Market during 2020 –2027

According to The Insight Partners market research study on “North America Plastics  For Electric Vehicle Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Plastics  Type, Component, Vehicle Type, and Application,” is expected to reach US$ 904.89 million by 2027 from US$ 213.50 million in 2019. The market is estimated to grow at a CAGR of 20.0% from 2020 to 2027. The report provides trends prevailing in the North America Plastics  For Electric Vehicle market along with the drivers and restraints pertaining to the market growth. Adoption of lightweight materials in an urge to reduce vehicle weight are the major factor driving the growth of the North America Plastics  For Electric Vehicle market. However, issues associated with the recycling of Plastics  materials used in electric vehicle hinder the growth of North America Plastics  For Electric Vehicle market.

The North America market for Plastics  For Electric Vehicle market is segmented into Plastics  type, component, vehicle type, application, and country. Based on Plastics  type, the market is segmented into Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Polyvinyl Butyral, Polyurethane (PU), Polypropylene (PP), and others. In 2019, the polypropylene segment held the largest share North America Plastics  For Electric Vehicle market. Based on component the Plastics  For Electric Vehicle market is divided into Dashboard, Seats, Interior Trim, Car Upholstery, Bumper, and Others. Interior trim is expected to be the leading segment over the forecast period. Based on vehicle type, the market is segmented into BEV, and PHEV/ HEV. BEV is expected to be the leading segment over the forecast period. Based on application, the market is segmented into Powertrain System/ Under Bonnet, Exterior, Interior, and Lighting and Electric Wiring. In 2019, the interior segment held the largest share in North America Plastics  For Electric Vehicle market.

The U.S has the highest number of confirmed cases of COVID-19, as, compared to Canada and Mexico. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.

BASF SE, Solvay SA, DuPont de Nemours, Inc., The Dow Chemical Company, LG Chem Ltd., Lanxess AG, Sabic, Covestro AG, Asahi Kasei Corporation, and Lyondellbasell Industries Holdings B.V.are among the leading companies in the North America Plastics  For Electric Vehicle market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, BASF closed the acquisition of Solvay’s polyamide (PA 6.6) business. The transaction broadens BASF’s polyamide capabilities. This will allow BASF to support its customers with even better engineering Plastics s solutions, e.g., for autonomous driving and e-mobility. The transaction also enhances the company’s access to growth markets in Asia as well as in North and South America.

The Report Segments the North America Plastics  For Electric Vehicle market as Follows:

North America Plastics  For Electric Vehicle Market – By Plastics  Type

  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyamide (PA)
  • Polycarbonate (PC)
  • Polyvinyl Butyral
  • Polyurethane (PU)
  • Polypropylene (PP)
  • Others

North America Plastics  For Electric Vehicle Market – By Component

  • Dashboard
  • Seats
  • Interior Trim
  • Car Upholstery
  • Bumper
  • Others

North America Plastics  For Electric Vehicle Market – By Vehicle Type

  • BEV
  • PHEV/ HEV

North America Plastics  For Electric Vehicle Market – By Application

  • Powertrain System/ Under Bonnet
  • Exterior
  • Interior
  • Lighting and Electric Wiring

North America Plastics  For Electric Vehicle Market – By Country

  • US
  • Canada
  • Mexico

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