North American Electric Vehicle Plastics Market Research and Forecast 2020-2026

 

The North American electric vehicle plastics market is projected to grow at a significant CAGR during the forecast period (2020-2026). The electric vehicle plastics market in North America is mainly driven due to the growth in the electric vehicle industry in the region coupled rising trend towards lightweight electric vehicles in the automotive sector. The rising consumption rate of plastics across the automotive market in Canada is one of the major factors driving the market growth in the region. The top five global OEMs assemble over 2 million vehicles at their Canadian plants each year, namely FCA, Ford, GM, Honda, and Toyota. The sector plays a crucial role in Canada’s economy, with a $19 billion contribution to GDP in 2018; it is one of Canada’s largest manufacturing sectors. Besides, Canada is one of the top ten producers of light vehicles globally, as per the Government of Canada.

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Moreover, Canada promotes all forms of EVs in the country by forming an association with automakers such as Ford and General Motors, along with major fleet users, research organizations, and universities. According to the International Council on Clean Transportation (ICCT), around 0.3 million EVs are expected to be sold by 2020 in Canada. This, in turn, is further projected to increase the demand for plastics in automotive manufacturing in Canada, in near future. Therefore, the market players can 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.

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Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment dominates the market in the base year?
• Which segment 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 segment

o   Recommendations

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

North American 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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North American Electric Vehicle Plastics Market – Segmentation by Country

• United States
• Canada

Company Profiles

• Arkema Group
• AGC Chemicals
• BASF SE
• Celanese Corp.
• DuPont de Nemours, Inc.
• Evonik Industries AG
• Formosa Plastics Corp.
• INEOS AG
• Mitsubishi Chemical Corp.
• LyondellBasell Industries Holdings B.V.
• LG Chem Ltd.
• SABIC
• Solvay SA

 

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