The North American Thermoplastics market will see considerable growth during the forecast period. The US dominates the North American thermoplastics industry; however, Canada will project a considerable growth rate in the market. The continuous rise in end-use markets of thermoplastics will offer growth to the thermoplastics industry in Canada.
Canada is considered one of the top 10 producers of light vehicles across the globe, as per the Government of Canada. Moreover, Canada promotes all forms of EVs by forming an association with automakers, such as General Motors and Ford Motors Co., along with research organizations and institutes and major fleet users.
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According to the International Council on Clean Transportation (ICCT), in Canada, around 0.3 million EVs are expected to be sold by 2020. This, in turn, is further projected to increase the demand for thermoplastics in automotive manufacturing in Canada during the forecast period. Therefore, this offers an opportunity for the market players to expand their portfolio in the automotive industry, as this can be the safer side for the companies to invest in the developed industry of Canada. Therefore, the future of electric vehicles will have a modest share of contribution from Canada, which will further escalate the thermoplastics market in the country.
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North American Thermoplastics Market – Segmentation
By Type
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinylchloride (PVC)
- Polyethylene Terephthalate (PET)
- Others
By Application
- Packaging
- Building & Construction
- Automotive
- Electrical & Electronics
- Household, Leisure & Sports
- Agriculture
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
