The plastic for electric vehicle market in North America is expected to grow from US$ 213.50 million in 2019 to US$ 904.89 million by 2027; it is estimated to grow at a CAGR of 20.0% from 2020 to 2027.
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Market Overview
Bio-based plastics encompass a wide array of materials, including mass-market polymers such as Polyethylene Terephthalate (PET), bio-based Polyethylene (PE), performance-grade polymers, and thermoplastic co-polyester elastomers (TPC-ET). As the automotive industry increasingly emphasizes reducing CO₂ emissions, the adoption of bio-plastics over recycled plastics is gaining traction—particularly in non-visible vehicle components. This shift is helping reduce overall vehicle weight, thereby improving efficiency and sustainability.
Many automakers and suppliers around the world have recognized the environmental and cost benefits of incorporating sustainable plastic materials in electric vehicle (EV) production. Bio-based polyesters and polyamides are being used more frequently, with the aim of lowering the environmental footprint of vehicles. For example, the Kia Soul EV uses bio-plastics for various interior components, including carpets, door latches, and seat trims, opting for these materials instead of traditional recycled plastics. Similarly, major automotive companies such as Toyota, BMW, and Nissan are also embracing bio-plastics to align with the broader shift toward green technologies. This trend is significantly contributing to the expansion of the plastics for electric vehicles market.
Impact of COVID-19
The United States reported the highest number of COVID-19 cases in North America, which has had a notable impact on the region's chemical and materials industry. The pandemic disrupted supply chains and hampered manufacturing and R&D activities, thereby affecting overall market growth.
Role of Plastics in Electric Vehicles
Modern plastics serve both as conductors and insulators, making them highly versatile for use in electric vehicles. As thermoplastic polymers, their ease of molding and adaptability to various designs allow manufacturers to meet specific requirements. The use of plastics significantly reduces the weight of electric vehicles, enhancing their range per charge. Additionally, many plastics offer superior heat resistance, making them ideal for constructing battery compartments and cooling systems without compromising on safety or durability. Injection-molded plastic parts also offer a cost-effective alternative to metal components, attracting further interest from EV manufacturers.
Overall, the increasing use of bio-plastics in EV production is expected to generate substantial demand in the coming years, thereby driving growth in the plastics for electric vehicles market.
North America Plastic for electric vehicle Market Segmentation
North America Plastic for electric vehicle Market- by Plastic Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyvinyl Butyral
- Polyurethane (PU)
- Polypropylene (PP)
- Others
North America Plastic for electric vehicle Market- by Component
- Dashboard
- Seats
- Interior Trim
- Car Upholstery
- Bumper
- Others
North America Plastic For Electric Vehicle Market – By Vehicle Type
- BEV
- PHEV/ HEV
North America Plastic For Electric Vehicle Market – By Application
- Powertrain System/ Under Bonnet
- Exterior
- Interior
- Lighting and Electric Wiring
North America Plastic for electric vehicle Market- by Country
- US
- Canada
- Mexico
Company Profiles
- BASF SE
- Solvay SA
- DuPont de Nemours, Inc.
- The Dow Chemical Company
- LG Chem Ltd.
- Lanxess AG
- Sabic
- Covestro AG
- Asahi Kasei Corporation
- Lyondellbasell Industries Holdings B.V.
North America Plastics For Electric Vehicle Strategic Insights
Strategic insights for the North America Plastics For Electric Vehicle provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Plastics For Electric Vehicle Regional Insights
The geographic scope of the North America Plastics For Electric Vehicle refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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