Indian electric vehicle plastics market is estimated to grow significantly during the forecast period. The market is mainly driven due to the growing demand for electric vehicles in the country coupled with significant support by the government for the electric vehicle. Moreover, the Indian government is focusing on encouraging the adoption of electric vehicles in the country. For instance, in February 2019, the government approved the proposal for the implementation of the “Faster Adoption and Manufacturing of Electric Vehicles in India Phase II” (FAME Phase II) scheme that reduces the upfront purchase price of hybrid and electric vehicles. The Phase II scheme includes the allocation of a $1.4 billion budget to encourage the uptake of electric vehicles and is implemented over a period of three years from April 2019. 

The Indian 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 Indian electric vehicle plastics market is further segmented into two-wheelers, passenger cars, and commercial vehicles. Electric two-wheeler segment is expected to witness significant growth in the Indian market with the continuous entry of new players. 

The companies which are contributing to the growth of the Indian electric vehicle plastics market include Reliance Industries Ltd., 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 Indian 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. Indian Electric Vehicle Plastics Market Research and Analysis by Plastic Type
2. Indian Electric Vehicle Plastics Market Research and Analysis by Vehicle Type

The Report Covers

• Comprehensive research methodology of the Indian 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 Indian electric vehicle plastics market.
• Insights about market determinants that are stimulating the Indian electric vehicle plastics industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.