Japan Modified Plastics for New Energy Vehicles Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 15.8% from 2024 to 2030.
The Japan Modified Plastics for New Energy Vehicles (NEVs) Market has seen a dramatic shift in demand as the automotive industry transitions towards eco-friendly and sustainable solutions. With growing concerns about carbon emissions and the global push for electric vehicles (EVs), the demand for advanced materials such as modified plastics is rapidly increasing. Modified plastics play a crucial role in reducing the weight of vehicles, which is essential for improving energy efficiency and extending battery life in NEVs. These plastics are specifically designed to withstand high temperatures, offer superior durability, and meet the stringent requirements of NEV manufacturers.
One of the key drivers behind the market growth is the need for lightweight materials in NEVs. The automotive industry is increasingly turning to modified plastics to replace traditional metal components, which helps reduce the overall weight of the vehicle. Lighter vehicles consume less energy, and this is especially important for electric vehicles where every bit of weight reduction can lead to better performance and range. Modified plastics for NEVs are also highly resistant to corrosion, which is essential for maintaining the longevity and safety of the vehicle in various weather conditions.
The requirement from industries for modified plastics extends beyond just weight reduction. These materials must also meet various performance standards such as high thermal stability, impact resistance, and the ability to withstand harsh environments. Modified plastics must be able to handle the heat generated by electric powertrains and batteries while maintaining their structural integrity. This means that manufacturers require specialized polymers and composites that not only meet functional requirements but also offer cost-effective solutions for large-scale production.
Japan, being a global leader in automotive technology, has placed a significant emphasis on the development of innovative materials to meet these industry needs. As the demand for NEVs continues to grow, manufacturers in Japan are investing heavily in the research and development of modified plastics tailored specifically for these vehicles. These efforts are expected to drive market expansion, making Japan a key player in the global modified plastics for new energy vehicles market.
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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
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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 Japan Modified Plastics for New Energy Vehicles Market
Polypropylene (PP) Blends
Polyethylene (PE) Composites
Polyvinyl Chloride (PVC) Materials
Thermoplastic Elastomers (TPE)
Engineering Plastics (PA, PC, PET)
Interior Components
Exterior Components
Structural Components
Battery Components
Electrical and Electronics Enclosures
Fully Electric Vehicles (EVs)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Fuel Cell Electric Vehicles (FCEVs)
Commercial Electric Vehicles (CEVs)
Automotive Manufacturers
Aftermarket Products
Original Equipment Manufacturers (OEMs)
Tier 1 Suppliers
Research and Development Institutions
Weight Reduction
Thermal Stability
Electrical Insulation
Impact Resistance
Chemical Resistance
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan 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. Japan Modified Plastics for New Energy Vehicles Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Modified Plastics for New Energy Vehicles Market, By Type
6. Japan Modified Plastics for New Energy Vehicles Market, By Application
7. Japan Modified Plastics for New Energy Vehicles Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan 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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