GLOBAL ELECTRIC VEHICLE PLASTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Regional Analysis

Regional Insights:

• North America- North America is poised to grow with a significant 18.2% CAGR over the forecast period. The region is home to some of the largest automakers in the world with a strong presence in electric vehicles. Automakers in the U.S. like Tesla, GM and Ford have led the development of EVs over the past decade and have also established local supply chains for EV components.  
• Europe- It is expected to account for a substantial proportion of the market share of 15.7% in 2024. Chemical companies in Europe are manufacturing plastics for EVs on a large scale. Tax exemption, subsidies, and supportive policies are boosting regional market growth.
• Asia Pacific- Asia Pacific has emerged as the dominant regional market for Electric Vehicle plastics globally, garnering a market share of 55.2% in 2024. China in particular is aggressively pushing the adoption of electric vehicles through supportive policies. Several Chinese automakers like BYD and Nio have emerged as formidable competitors in the market. This has created robust demand for EV components within the country and Asia as a whole.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East:  GCC Countries, Israel,  and Rest of Middle East
• Africa:  South Africa, North Africa, and Central Africa