Asia-Pacific electric vehicle plastics market is estimated to grow with a lucrative CAGR during the forecast period. The major factors that further contribute to the growth of the market include the growing demand for plastic parts and accessories in electric vehicles coupled with the rising electric vehicle industry. For instance, as per the International Energy Agency (IEA), electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. Moreover, the rising demand for light vehicles for reducing fuel consumption further provides a significant opportunity for the market.  

The Asia-Pacific market for electric vehicle plastics is segregated on the basis of plastic-type and vehicle type. Based on the plastic-type, the market is further classified into polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), polyurethane (PU), polymethylmethacrylate (PMMA), and others (Polypropylene). Based on the vehicle type, the Asia-Pacific electric vehicle plastics market is further segmented into hybrid electric vehicles (HEVs), battery electric vehicles (BEVs),  and plug-in hybrid electric vehicles (PHEVs). The BEV segment is estimated to have a considerable share in the market. Based on geography, the Asia-Pacific electric vehicle plastics market is further segregated into China, India, Japan, and the Rest of Asia-Pacific. Among, geography China is projected to have the largest share in the region. As per IEA, in 2018, around half of the global EV sales were from China. 

The companies which are contributing to the growth of the Asia-Pacific electric vehicle plastics market include Asahi Kasei Corp., BASF SE, Formosa Plastics Corp., Mitsui Chemicals, Inc., LG Chem Ltd., Sumitomo Chemical Co., Ltd., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market. 

Research Methodology

The market study of the Asia-Pacific electric vehicle plastics market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for plastics manufacturers, electric vehicle manufacturers, automotive companies, auto-ancillaries, start-ups, seed funders, venture capitalists, and other end-user companies for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

Market Segmentation

1. Asia-Pacific Electric Vehicle Plastics Market Research and Analysis by Plastic Type
2. Asia-Pacific Electric Vehicle Plastics Market Research and Analysis by Vehicle Type

The Report Covers

• Comprehensive research methodology of the Asia-Pacific electric vehicle plastics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific electric vehicle plastics market.
• Insights about market determinants that are stimulating the Asia-Pacific electric vehicle plastics industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.