Modified Plastics for New Energy Vehicles Market was valued at USD 4.5 Billion in 2022 and is projected to reach USD 12.5 Billion by 2030, growing at a CAGR of 15.2% from 2024 to 2030.
The Modified Plastics for New Energy Vehicles (NEVs) market was valued at approximately USD 3.5 billion in 2022, with projections indicating a compound annual growth rate (CAGR) of around 8.5% from 2023 to 2030. This growth is driven by the increasing adoption of NEVs and the rising demand for lightweight and high-performance materials to enhance vehicle efficiency and reduce emissions. The use of advanced plastics in battery enclosures, interior components, and exterior panels is gaining traction due to their excellent mechanical properties, durability, and cost-effectiveness. The market is expected to reach nearly USD 6.5 billion by 2030, reflecting a robust expansion as more automotive manufacturers integrate modified plastics into their NEV designs.
Opportunity analysis highlights several key factors contributing to this market growth. Technological advancements in plastic formulations, such as improved thermal stability and impact resistance, are opening new avenues for application in NEVs. Additionally, increasing government regulations and incentives for reducing carbon footprints are encouraging investments in sustainable automotive technologies. Emerging markets, particularly in Asia-Pacific and Latin America, present significant growth opportunities due to rising vehicle production and a growing focus on sustainable transportation solutions. The continuous innovation in plastic technology and the expansion of NEV infrastructure are expected to further drive market potential and create new business opportunities in this sector.
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Avient Corporation
Covestro
Asahi Kasei Plastics
Polyplastics
BASF
SABIC
Celanese Corporation
LG Corp
Samsung Chemical
Shandong Dawn
DSM Engineering Plastics
XD Plastics Company
QINGDAO GON TECHNOLOGY
Zhuzhou Times New Material
Guangdong Polyrocks Chemical
Silver Age Engineering Plastics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Modified Plastics for New Energy Vehicles Market
Automotive lnterior and Exterior Trim
Automotive Body and Roof Panels
Automotive Hood
Automotive Chassis
Other
Based on Types the Market is categorized into Below types that held the largest Modified Plastics for New Energy Vehicles market share In 2023.
PP
PU
PE
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Modified Plastics for New Energy Vehicles Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Modified Plastics for New Energy Vehicles Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Modified Plastics for New Energy Vehicles Market, By Type
6. Global Modified Plastics for New Energy Vehicles Market, By Application
7. Global Modified Plastics for New Energy Vehicles Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Modified Plastics for New Energy Vehicles Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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