Plastic Materials Market for electric & hybrid vehicles is projected to grow at a CAGR of 27.82% during
the forecast period, to reach a market size of USD 1.49 billion by 2021. The market is driven by factors
such as the increasing sales of electric & hybrid vehicles, stringent fuel emission regulations, supporting
government policies for alternate fuel vehicles, light weighting of vehicle and others. Addition to that,
the growth of automotive plastic market in BRIC countries is also creating a new revenue pocket for
tier1 players and OEMs.
Browse 125 market data tables and 59 figures spread through 178 pages and in-depth TOC on “Plastic
Components Market - Global Forecast to 2021”
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Key Players of Plastic Components Market:
• BASF SE (Germany)
• Dow Chemical Company (U.S.)
• INEOS Capital Limited (Switzerland)
• SABIC (Saudi Arabia)
• Lyondellbasell Industries Holdings B.V. (The Netherlands)
Battery electric vehicles to be the fastest growing segment in the electric vehicle plastics market
The Battery Electric Vehicle (BEV) segment is projected to grow at the highest CAGR during the forecast
period. The primary difference in the plastics employed in a BEV compared to a Hybrid Electric Vehicle
(HEV) is the under hood components. The growth of this market is driven by factors such as increasing
innovation, environmental concerns, and stringent emission regulations. To promote the growth of
BEVs, governments are introducing various tax and non-tax incentives for electric vehicle owners. This in
turn supplements the growth of the plastics employed in these BEVs.
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