Norway Electric Vehicle Plastics Market Size & Outlook
Norway electric vehicle plastics market, 2019-2030 (US$M)
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Norway electric vehicle plastics market highlights
- The Norway electric vehicle plastics market generated a revenue of USD 70.1 million in 2023 and is expected to reach USD 240.0 million by 2030.
- The Norway 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.
Electric vehicle plastics market data book summary
| Market revenue in 2023 | USD 70.1 million |
| Market revenue in 2030 | USD 240.0 million |
| Growth rate | 19.2% (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, Norway accounted for 3.0% 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 Europe, Germany electric vehicle plastics market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 942.4 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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Norway 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 28.67% in 2023. Horizon Databook has segmented the Norway 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.
Norway accounts for a major share of electric vehicles globally as well as in Europe. According to the Norwegian Electric Vehicle Association, the country has a high uptake for battery electric vehicles (BEV) and in 2022, 60% of all new cars sold in Norway were fully electric (excluding the plug-in hybrid electric vehicle).
Moreover, the country has a robust electric vehicle charging infrastructure including 17,100 publicly available charging points, which supports the growth of the electric vehicles market in the country. The above-mentioned factors collectively impact the electrical vehicle plastics consumption in the country and provide a positive market outlook.
The Norwegian government has an ambitious goal to make the country fully reliant on zero-emission vehicles by 2025. This goal falls in line with the European Union’s plan to completely phase out combustion engine vehicles.
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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 Norway electric vehicle plastics market , including forecasts for subscribers. This country databook contains high-level insights into Norway electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Norway electric vehicle plastics market size, by resin, 2019-2030 (US$M)
Norway Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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