U.S. Electric Vehicle Plastics Market Size & Outlook
U.S. electric vehicle plastics market, 2019-2030 (US$M)
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U.S. electric vehicle plastics market highlights
- The U.S. electric vehicle plastics market generated a revenue of USD 400.7 million in 2023 and is expected to reach USD 1,420.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 19.8% 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 400.7 million |
| Market revenue in 2030 | USD 1,420.6 million |
| Growth rate | 19.8% (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, U.S. accounted for 17.1% 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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U.S. 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 29.55% in 2023. Horizon Databook has segmented the U.S. 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 U.S. made a spectacular return to the electric car industry in 2021, with sales more than doubling from the previous year to exceed half a million. The U.S. auto market improved as well, but electric vehicles more than quadrupled their market share to 4.5%, according to the International Energy Agency (IEA).
In September 2022, Stellantis N.V. announced that the company would introduce the next generation of fully electric 4xe electric SUVs in North America and Europe by 2025, with the brand name Jeep. Furthermore, by the end of 2030, all Stellantis brands pledged to sell 100% of passenger battery electric vehicles (BEVs) in Europe and 50% of passenger and light-duty trucks that are BEVs.
The U.S. dominated the North America electric vehicle plastics market in 2022 and the dominance is expected to continue over the forecast period. Original equipment manufacturers in the country are focusing to upgrade traditional powertrain models.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. electric vehicle plastics market , including forecasts for subscribers. This country databook contains high-level insights into U.S. electric vehicle plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. electric vehicle plastics market size, by resin, 2019-2030 (US$M)
U.S. Electric Vehicle Plastics Market Outlook Share, 2023 & 2030 (US$M)
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