China Electric Vehicle Plastics Market Size & Outlook
China electric vehicle plastics market, 2019-2030 (US$M)
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China electric vehicle plastics market highlights
- The China electric vehicle plastics market generated a revenue of USD 952.7 million in 2023 and is expected to reach USD 6,498.0 million by 2030.
- The China market is expected to grow at a CAGR of 31.6% 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 952.7 million |
| Market revenue in 2030 | USD 6,498.0 million |
| Growth rate | 31.6% (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, China accounted for 40.7% 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 Asia Pacific, China electric vehicle plastics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 336.4 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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China 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 29.75% in 2023. Horizon Databook has segmented the China 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.
According to the IEA, The country witnessed more sales of electric vehicles in 2021 than their sales in the rest of the world combined in the same year. The electric car fleet of China was the largest in the world in 2021, with approximately 7.8 million electric vehicles plying on roads that were more than double the number of these vehicles in the country in 2019 before the COVID-19 outbreak.
In 2021, China sold over 2.7 million battery electric vehicles (BEVs). These vehicles accounted for a share of approximately 82% of new electric cars sold in the country in 2021. Electric cars accounted for a share of approximately 16% of domestic auto sales in China in 2021 which was approximately 5% more than their share in automobile sales in the country in 2020.
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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 China electric vehicle plastics market , including forecasts for subscribers. This country databook contains high-level insights into China electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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China electric vehicle plastics market size, by resin, 2019-2030 (US$M)
China Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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