North America Electric Vehicle Plastics Market Size & Outlook
North America electric vehicle plastics market, 2019-2030 (US$M)
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North America electric vehicle plastics market highlights
- The North America electric vehicle plastics market generated a revenue of USD 460.3 million in 2023.
- The market is expected to grow at a CAGR of 19.2% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 460.3 million |
| Market revenue in 2030 | USD 1,575.4 million |
| Growth rate | 19.2% (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, North America region accounted for 19.6% 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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North America 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 29.22% in 2023. Horizon Databook has segmented the North America 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.
North America emerged as the third-largest market for electric vehicle plastics in 2022, accounting for an 11.13% share of the global market value consumption. The electric vehicle plastics market in North America is expected to witness rapid growth due to government subsidies and rising demand from the high-level income class.
In August 2022, the President of the U.S., Joe Biden, signed a landmark tax, health, and energy bill that takes significant steps toward fulfilling the goal of modernizing the American economy and reducing its dependence on fossil fuels.
The bill is expected to help electric utilities switch to lower-emission sources of energy and encourage Americans to buy electric vehicles through tax credits. The legislation is expected to raise about USD 700 billion through corporate tax increases and prescription drug savings, and the legislation is expected to spend about USD 400 billion on clean energy and healthcare provisions.
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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 continent-level data and insights on the North America electric vehicle plastics market , including forecasts for subscribers. This continent databook contains high-level insights into North America electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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North America electric vehicle plastics market size, by country, 2019-2030 (US$M)
North America Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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