Canada Electric Vehicle Plastics Market Size & Outlook
Canada electric vehicle plastics market, 2019-2030 (US$M)
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Canada electric vehicle plastics market highlights
- The Canada electric vehicle plastics market generated a revenue of USD 59.6 million in 2023 and is expected to reach USD 154.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 14.6% 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.
Electric vehicle plastics market data book summary
| Market revenue in 2023 | USD 59.6 million |
| Market revenue in 2030 | USD 154.8 million |
| Growth rate | 14.6% (CAGR from 2023 to 2030) |
| Largest segment | Polyurethane (pu) |
| Fastest growing segment | Polypropylene (PP) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 2.5% of the global electric vehicle plastics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. electric vehicle plastics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,420.6 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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Canada 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 27.18% in 2023. Horizon Databook has segmented the Canada 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.
In March 2022, General Motors and POSCO Chemical collaborated to work with the government of Canada to build a new facility in Quebec, Bécancour, Canada worth USD 400 million. The new facility will manufacture cathode active material (CAM) for general motors Ultium batteries, which will excel the electric vehicles such as Cadillac LYRIQ, GMC HUMMER EV, and Chevrolet Silverado EV.
In addition, the strengthening Canadian dollar has led to an increase in the purchasing power of consumers. Furthermore, the low-interest rates on loans and moderate gas prices have led to an increase in automotive purchases in the country.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Canada electric vehicle plastics market , including forecasts for subscribers. This country databook contains high-level insights into Canada electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Canada electric vehicle plastics market size, by resin, 2019-2030 (US$M)
Canada Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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