The US electric vehicle plastics market is projected to grow at a significant CAGR during the forecast period. The rising trend towards the lightweight electric vehicle in the country further raises the demand for plastics use for electric vehicles. Cohesive government regulations are also expected to drive the demand for electric vehicles thus the EV plastic demand. Several US states have adopted zero-emission vehicle (ZEV) mandates and/or have stated an intention to continue to improve vehicle fuel economy.
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For instance, the government of California has introduced a zero-emissions vehicle (ZEV) program, under which the government grants support for the roll-out of electric vehicles in the US. The program assigns each automaker “ZEV credits” so that automakers are required to meet an appropriate percentage of ZEV sales. In October 2016, the Government of California has issued an executive order for the production and sales of over 1.5 million ZEVs on the road by 2025. However, in January 2018, the order has been revised and the aim is extended with a new executive order demanding to roll-out around 5 million ZEVs in California by 2030.
Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Plastic Type and by Vehicle Type
- Key Companies Profiled- Canon Inc., Hologic, Inc., FUJIFILM Corp., General Electric Co., Hitachi Ltd., Koninklijke Philips N.V., Siemens AG, and others
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Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Electric Vehicle Plastics Market – Segmentation
By Plastic Type
- Polyvinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyurethane (PU)
- Polyamide (PA)
- Polymethylmethacrylate (PMMA)
- Others (Polypropylene)
By Vehicle Type
- Hybrid Electric Vehicles (HEVs)
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicles (PHEVs)
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