Electric Vehicle Plastics Market
Electric Vehicle Plastics Market 10-Year Market Forecast and Trends Analysis Research Report
Increasing demand for electric vehicles owing to growing environmental awareness supported by innovation , government , and investments made by OEMs , has resulted in a technological revolution in the global automobile industry . Demand for electric vehicles thereby , lead to an increasing demand for allied industries such as plastics which is an essential material required in manufacturing of electric vehicles . Manufacturers need lightweight materials to develop an electric vehicle which is one of the primary drivers for electric vehicle plastics market . Growing environmental concern is expected to increase the demand for electric vehicles which thereby would drive the demand for electric vehicle plastics market over the forecast period .
Electric Vehicle Plastics Market : Market Dynamics
Electric vehicle plastics market is primarily driven by the trend of light-weight plastic applications as a manufacturing element . Application of light-weight plastics in electric vehicle results in enhanced fuel efficiency along with increasing the range of battery electric vehicle ( BEV ). BEV is expected to be the largest contributor to electric vehicle plastic markets which in turn will boost up the growth of global electric vehicle plastics market . Electric vehicle plastics market is further expected to witness an increasing demand owing to its performance competency as compared to metal . Plastic ’ s attributes such as carbon emission reduction and less dependency on petroleum drive the electric vehicle plastics market . Electric vehicle parts such as energy recovery devices , pumps , fans , casings and non-moving parts are expected to be manufactured using plastics thereby reducing the overall weight of the vehicle
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