Global Electric Vehicle Plastics Market - 2020-2027
|電動車用塑膠的全球市場:2020-2027年 Global Electric Vehicle Plastics Market - 2020-2027|
|出版日期: 2020年08月27日||內容資訊: 英文||
While metal is the go-to material in the manufacture of various automotive components, the resulting increase in vehicle weight has led automotive manufacturers to look for alternatives to improve overall vehicle efficiency. Therefore, plastics are the common standard materials after metals which are currently used for the construction of various parts of a vehicle.
Due to the inclusion of a larger battery pack, the smaller size of the internal combustion engine, and the demand for lightweight materials to improve fuel efficiency, a greater quantity of plastic material is used in these vehicles as compared to conventional vehicles. Plastics for electric vehicles are the raw materials that are used extensively in the manufacturing of parts and supplies.
For instance, in 2019, one of the world's largest manufacturer of renewable diesel from waste and residues, LyondellBasell and Neste (NESTE, Nasdaq Helsinki) announced the first commercial simultaneous production of bio-based polypropylene and low-density, bio-based polyethylene. With the help of these materials, vehicle's weight can be decreased by up to 40% by using plastics in EV. In addition, heavy-duty polymers and elastomers are used to combine parts and functions. The miniaturization helps to reduce volume and strengthens packaging.
The German federal government has spent more than US$ 1.77 billion in the production of electronic mobility till June 2020. The automotive industry has invested USD 20.07 billion in production and marketing activities during the same period. In addition, the federal government has given USD 354.15 million to improve the country's charging network. USD 236.10 million is earmarked for fast charging infrastructure, and USD 118.05 million for regular charging. Such factors are estimated to drive the electric vehicle plastics market in Germany.
The global electric vehicle plastics market valued USD XX million in 2019 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2027.
The market in plastics for electric vehicles is driven primarily by the trend in light weight plastic applications as a manufacturing element. Application of lightweight plastics in electric vehicles results in improved fuel efficiency as well as improved battery electric vehicle (BEV) range.
BEV is projected to be the largest contributor to the electric vehicle plastics industries, which in turn will fuel global electric vehicle plastics demand growth. Plastic attributes like reducing carbon emissions and less dependence on petroleum drive the plastics market for electric vehicles.
For instance, Germany has promised to reduce carbon dioxide emissions by 40 per cent by 2020. Around 880 vehicle models still exist in the country with emission levels of only 130 gm/km of carbon dioxide. Over 500 models have managed to remain below the range of 120 gm/Km.
According to the National Electric Mobility Platform (NPE), Germany's 2020 vision relies heavily on a cross-sectorial industry strategy that transcends conventional industry boundaries to achieve the viable and systemic solutions for electro-mobility needed to reach the country's ambitious target.
Moreover, it is expected that electric vehicle parts such as energy recovery systems, pumps, fans, casings and non-moving parts will be produced using plastics thereby reducing the vehicle's overall weight without compromising on performance, thereby increasing demand for the global electric vehicle plastics industry globally.
However, recycling of plastic materials used in electric vehicle components may be a hampering the growth of the electric vehicles plastic market across the world. Vehicle components are made from diverse plastic materials that require component sorting before recycling.
On the other hand, OEMS also focuses on strength and protection and cost-effective materials for the battery compartment field with high temperature resistive properties. The phenomenon is likely to give the plastic manufacturer new opportunity globally, which are lighter in weight and comparatively less costly than metal parts.
Global electric vehicle plastics is segmented into material, application and vehicle. Based on the material, the market is segmented into Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Polyethylene (PE), Polyvinyl Chloride (PVC), Polypropylene (PP), Polyamide, Acrylonitrile Butadiene Styrene (ABS) and others.
Based on the application, the market is segmented into Interior (Seats, Arm Rest, Head Rest, Others), Exterior (Car Body, Lights, Bumpers, Chassis, Others), Under Bonnet, Electric Wiring & Lighting System and Others. Based on the Vehicle, the market is segmented into Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs) and Battery Electric Vehicles (BEVs).
The growing trend in interior components to replace metals with plastics is leading to the increased demand for plastics for interior trim segment. Replacing metal parts with plastics allows lower risk when crashing or accident happens, as these plastics act as an absorbing body particularly on the vehicle occupant's legs at the time of crash.
In addition, the use of plastics also enhances the aesthetics of the vehicle along with providing the required strength. Projected to dominate the component segment throughout the forecast period is plastics demand in interior trim. According to American Chemistry Council, the North American light vehicle industry of USD 431 billion (NAFTA) represents a significant segment of both Canada and United States and a wide end-use market for chemistry customers.
The 16.81 million light vehicles manufactured in the U.S., Canada and Mexico in 2018 included some 5.8 billion pounds of plastics and polymer composites worth USD 7.7 billion, or USD 458 in each car. Most governments have set deadlines between 2025 and 2030, to go full electric. A number of Greenfield investments for electric vehicles were observed for achieving the same.
Volvo, a Sweden based automaker, is setting up a production plant in China that remains the largest producer of vehicles worldwide. Electric vehicle manufacturing requires the maximum amount of plastic materials due to the need to make the vehicle light weighted and to increase the range of the vehicle, thus boosting the demand for electric vehicles plastic market across the world.
By region, the electric vehicle plastics market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Asia-Pacific accounted for a majority share of the total electric vehicle plastics market in 2020, in terms of volume. The main countries in the region are China, Japan, India and South Korea. In terms of geography, Asia region has the highest electric vehicle sales. Asia is now both the largest and the fastest-growing electric vehicles plastic market during the forecast period.
China is the largest consumer of electric vehicle polymers, owing to the increase in electric vehicle production in China. The country accounts for the highest demand growth of high-end electric vehicle polymers with global manufacturers increasing their production capacities by investing in the country.
For example, as more than 30 Chinese cities have planned to achieve 100% electrified public transit by 2020, including Guangzhou, Zhuhai, Dongguan, Foshan and Zhongshan in the Delta of the Pearl River, along with Nanjing, Hangzhou, Shaanxi and Shandong, the country may also witness growth in the projection period.
On the other hand, the sales of the cars were also gradually decreased mainly due to the lockdown in the country. Due to Corona Virus outbreak across the world, this declining trend continued further from first quarter to second quarter of 2020. The government had announced a country lockdown which resulted in the shutdown of production and dealerships facilities.
However, China's government has lifted taxes or issued a substantial amount of tax exemption on the purchase of EVs. Such policies have attracted many consumers to purchase EV in this country. For instance, in April 2020, the China government has introduced 10% service tax waiver for electric vehicles to boost the demand of the market due to Covid-19 impact. With already millions of electric vehicles sold in the China alone till December 2019, the EVs market in the region is forecast to rise on a very positive note further complementing the demand of electric vehicle plastic in this region.
Key players operating in the market are DuPont, Evonik, BASF SE, INEOS Capital Ltd., BSM Group, Plastic Omnium, Celanese, Covestro, LANXESS, Asahi Kasei Corporation among others.
In 2020, Covestro developed a new composite technology that facilitates the production of particularly thin, lightweight, high-strength yet aesthetic parts on an industrial scale. It is based on Continuous Fiber-Reinforced Thermoplastic Polymers (CFRTP), and is marketed as MaezioTM. Thermoplastics such as polycarbonate are used as substrates, and carbon or glass fibers are used for insulation.
The joint venture between KOLON PLASTICS and BASF SE, established in 2016, started operations at its new production plant for polyoxymethylene (POM), in Gimcheon, Korea, in 2019. Combined with KOLON PLASTICS 'current annual POM production capacity of 80,000 metric tons, the new production with a capacity of 70,000 metric tons per year produces the world's largest POM production plant, with a total annual output of 150,000 metric tons. Construction of the approximately USD 220 million plant that began in April 2016.
DuPont highlighted its Vamac Ethylene Acrylic Elastomers during the 2018 Deutsche Kautschuk-Tagung (DKT) conference which will take place in Nuremberg from 2 to 5 July 2018 and will join its Vamac EMEA distribution partner, Safic-Alcan. Together, DuPont and Safic-Alcan are able to provide the materials and chemical ingredients needed to formulate their best Vamac compounds for customers.