Asia Pacific Electric Vehicle Plastics Market Size & Outlook
Asia Pacific electric vehicle plastics market, 2019-2030 (US$M)
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Asia Pacific electric vehicle plastics market highlights
- The Asia Pacific electric vehicle plastics market generated a revenue of USD 1,087.3 million in 2023.
- The market is expected to grow at a CAGR of 31.3% from 2024 to 2030.
- In terms of segment, polyurethane (pu) was the largest revenue generating resin in 2023.
- Polypropylene (PP) is the most lucrative resin segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,087.3 million |
| Market revenue in 2030 | USD 7,330.3 million |
| Growth rate | 31.3% (CAGR from 2023 to 2030) |
| Largest segment | Polyurethane (pu) |
| Fastest growing segment | Polypropylene (PP) |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polypropylene (PP), Polyamide (PA), Polycarbonate (PC), Polyethylene (PE), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyvinyl Butyral (PVB), Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET) |
| Key market players worldwide | Basf SE, SABIC, LyondellBasell Industries NV Class A, Evonik Industries AG, Covestro AG, DuPont de Nemours Inc, Sumitomo Chemical Co Ltd, LG Chem, Asahi Kasei Corp, Lanxess AG, INEOS, Celanese Corp Class A, AGC Inc, Ems-Chemie Holding AG, Mitsubishi Electric Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.4% of the global electric vehicle plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,330.3 million by 2030.
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Electric Vehicle Plastics Market Scope
Electric Vehicle Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific electric vehicle plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric vehicle plastics market will help companies and investors design strategic landscapes.
Polyurethane (pu) was the largest segment with a revenue share of 29.35% in 2023. Horizon Databook has segmented the Asia Pacific electric vehicle plastics market based on polypropylene (pp), polyamide (pa), polycarbonate (pc), polyethylene (pe), polyurethane (pu), polyvinyl chloride (pvc), polyvinyl butyral (pvb), polybutylene terephthalate (pbt), acrylonitrile butadiene styrene (abs), polyethylene terephthalate (pet) covering the revenue growth of each sub-segment from 2019 to 2030.
Electric vehicles are the key to decarbonizing road transport, which accounts for a share of approximately 16% of global emissions. In recent years, Asia Pacific has shown exponential growth in the sales of electric vehicles owing to their improved travel range, wide model availability, and increased performance.
In 2021, the sales of electric cars reached a record high in Asia Pacific, despite ongoing supply chain bottlenecks and the prevailing COVID-19 situation. Electric car sales doubled in countries such as India, Thailand, and Malaysia.
For instance, on December 14, 2021, Japan-based Toyota Motor Corporation announced a plan to roll out 30 battery electric vehicle (BEV) models and reach its goal of selling approximately 3.5 million electric cars annually by 2030.
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Target buyers of Asia Pacific electric vehicle plastics market databook
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Our clientele includes a mix of electric vehicle plastics market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific electric vehicle plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific electric vehicle plastics market size, by country, 2019-2030 (US$M)
Asia Pacific Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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