UK Electric Vehicle Plastics Market Size & Outlook
UK electric vehicle plastics market, 2019-2030 (US$M)
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UK electric vehicle plastics market highlights
- The UK electric vehicle plastics market generated a revenue of USD 89.9 million in 2023 and is expected to reach USD 374.4 million by 2030.
- The UK market is expected to grow at a CAGR of 22.6% from 2024 to 2030.
- In terms of segment, polyurethane (pu) was the largest revenue generating resin in 2023.
- Polybutylene Terephthalate (PBT) 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 89.9 million |
| Market revenue in 2030 | USD 374.4 million |
| Growth rate | 22.6% (CAGR from 2023 to 2030) |
| Largest segment | Polyurethane (pu) |
| Fastest growing segment | Polybutylene Terephthalate (PBT) |
| 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, UK accounted for 3.8% 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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UK 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 26.25% in 2023. Horizon Databook has segmented the UK 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.
The UK has been concentrating on using ultra-low or zero-emission vehicles since 2011. The various grants and subsidies awarded to increase electric vehicle penetration have resulted in revolutionizing the electric vehicle market in the country.
According to the UK government website, the policies set up by the UK government have led to almost 100,000 units being sold in the first 5 months of 2022. Presently, hybrid and battery electric vehicles make up over half of all new vehicles sold, with the sales of electric vehicles rising by 70% in 2021.
This indicates a positive electric vehicle market in the country, thus positively influencing the electric vehicle plastics market over the forecast period. According to the International Energy Agency, the UK plans to completely phase out new diesel and petrol vehicles by 2030. By 2035, new vans and cars are expected to be fully zero emission at the tailpipe.
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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 UK electric vehicle plastics market , including forecasts for subscribers. This country databook contains high-level insights into UK electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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UK electric vehicle plastics market size, by resin, 2019-2030 (US$M)
UK Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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