Asia-pacific Electric Vehicle Plastic Market Forecast 2022-2030

Asia-pacific Electric Vehicle Plastic Market Forecast 2022-2030KEY FINDINGS

The Asia-Pacific electric vehicle plastic market is set to project a CAGR of 29.35% during the forecast period, 2022-2030. The market for electric vehicle plastic in the region is expanding rapidly, given the surging manufacture of electric and hybrid vehicles.

MARKET INSIGHTS

Thailand, South Korea, Indonesia, Japan, Australia & New Zealand, China, India, Vietnam, and Rest of Asia-Pacific are assessed for the Asia-Pacific electric vehicle plastic market growth evaluation. Indonesia is projected to build its first electric vehicle battery plant and is set to start production by 2023. The investment in the project is expected to reach $9.8 billion and is initiated by Indonesia Battery Corp (IBC), a holding company encompassing four state-owned enterprises. Also, the government is initiating to have its own electric vehicle battery cell factory, a result of a collaboration between the Ministry of Investment/Indonesia Investment Coordinating Board (BKPM) and Hyundai Consortium. Such factors, along with the efforts to improve fuel efficiency, drive market growth in Indonesia.

Thailand has set a goal of selling only zero-emission vehicles from 2035. Accordingly, the government has been pushing for more electric vehicles alongside tax incentives and perks for supplementing their adoption. Also, the automotive industry is one of the most important sectors contributing to around 10% of the company. In addition, the country is the largest producer of vehicles in the ASEAN region.

Whereas in countries like Vietnam, plastics are commonly used in a vast range of industries, including agriculture, textiles, aviation, electronics, automotive, consumer goods, and packaging. The upstream sector of the plastic production industry in the country includes chemical enterprises and petrochemical refineries converting fossil materials into raw plastic beads.

COMPETITIVE INSIGHTS

Some of the leading market players include Plastic Omnium, Sumitomo Chemical Co Ltd, Momentive Performance Materials, etc.

Our report offerings include:

• Explore key findings of the overall market

• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)

• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions

• Market Segmentation caters to a thorough assessment of key segments with their market estimations

• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share

• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.

• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.

• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments