Increasing demand for electric vehicles owing to growing environmental awareness supported by innovation, government initiatives, and investments made by OEMs has resulted in a technological revolution in the global automobile industry. The need for electric vehicles propels allied sectors such as plastics, an essential material required in the manufacturing of the former. Manufacturers need lightweight materials to develop electric vehicles, which is the primary driver of the global electric vehicle plastics market. Environmental concerns are expected to increase the requirement for electric vehicles, thereby driving the electric vehicle plastics market over the forecast period. With a shift in consumer need toward automobiles which contribute to fewer greenhouse gas emissions, highly fuel-efficient electric vehicles and their variants are being manufactured by almost all major automakers owing to the improving year-on-year sales of this product, directly influencing the development of the electric vehicle plastics market. Another contributing factor is the decline in the prices of raw materials used in the manufacture of electric vehicles.
A full report of Electric Vehicle Plastics Market is available at: https://www.orionmarketreports.com/electric-vehicle-plastics-market/37701/
Electric Vehicle Plastics Market Segmentation:
The global electric vehicle plastics market is segmented on the basis of plastic type, application, vehicle type. On the basis of plastic type the market is segmented as acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyvinyl chloride (PVC), polyethylene (PE), polycarbonate (PC), polyamide (PA), polybutylene terephthalate (PBT), polyurethane (PU), polyoxymethylene (POM), others. On the basis of application the market is segmented as exterior, interior, powertrain system/under bonnet, lighting and electric wiring. On the basis of vehicle type the market is segmented as battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), hybrid electric vehicles (HEV).
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