Market by Electric Vehicle Type, Component, Plastic Type, and Country Outlook | Forecast 2022-2028
A study by Triton Market Research shows that the electric vehicle plastics market in the Middle East and Africa will develop with a CAGR of 25.78% in the forecast duration 2022-2028.
The countries studied in this
market include:
• Saudi Arabia
• Turkey
• The United Arab Emirates
• South Africa
• Rest of Middle East & Africa
Electric
cars are growing in popularity in the region with the growing availability of
EV charging stations. Moreover, cost-effectiveness, convenience, environment
sustainability, incorporation of advanced technology, and several government
policies like incentives for equipment purchase, significant rebates, and preferential
rates are among the factors propelling the demand for these vehicles in the Middle
East and Africa. This is expected to influence the demand for electric vehicle
plastics as well. However, the lack of awareness among a large section of the
masses is hampering the sales of EVs in the region.
The
Government of the UAE is encouraging the adoption of EVs as part of its goals
under the UAE Vision 2021. In addition, the Road Transport Authority (RTA) and
the Dubai Electricity and Water Authority (DEWA) have joined forces for the
development of the nation’s electric vehicle market. For this, they have installed
charging stations and are also providing incentives like free parking and toll &
registration fees exemption. Owing to these trends, the demand for EV plastics
in the country is expected to more than double over the forecasted period.
In
Turkey, a number of renowned international automotive companies manufacture and
assemble their vehicles. Moreover, a steady rise in the electric vehicle
adoption and their charging stations has been observed in the country, with new
developments in the charging infrastructure. The Turkish government has also announced
its massive investment to increase the production of electric vehicles. Such
favorable conditions are aiding the adoption of electric vehicles, which
further offers numerous growth prospects to the nation’s electric vehicle
plastic market.
A
powertrain in a vehicle refers to an assembly of every component that propels it
forward. The powertrain generates power from the car’s engine and delivers it
to the wheels on the ground. Its key components include an engine, driveshaft,
axles, differential, and transmission. The use of plastics can reduce the
number of parts required per component. They are suitable for powertrains as they
can reduce the overall weight & costs and dampen the noise &
vibrations. The studied report assesses the
market’s growth according to electric
vehicle type, component, and plastic type. Here, the component segment
comprises powertrain, external, and internal.
The prominent companies in the electric
vehicle plastics market include Lanxess Corporation, Asahi Kasei Corp., Covestro
AG, Dow Chemical Company, BASF SE, Evonik Industries, and Hanwha Azdel Inc.
Covestro AG is a company producing precursors for high-performance plastic polycarbonate, polyurethane foams, and precursors for sealants, coatings, adhesives, and specialty products such as films. The company is working continuously to advance its products, technologies, and application solutions further. Covestro has shown a positive growth rate after 2020. Its revenue growth rate jumped to 48.5% in FY2021, which is significantly larger than the industry average post the pandemic. The company has marked its presence in 30 countries worldwide, with R&D facilities in all continents. Its diversified product base across all industry segments and a wide range of plastic automotive parts in interior, exterior, and powertrain segments are the strength of Covestro AG.
Key deliverables of the
report:
·
Market
CAGR during the forecasting years 2022-2028
·
Detailed
data highlighting key insights, industry components, and market strategies
· Comprehensive
information and estimation of the electric vehicle plastics market revenue
growth in the Middle East and Africa and its influence on the parent market
·
In-depth
study of forthcoming trends in consumer behavioral patterns
·
A
meticulous analysis of the competitive landscape, vendor scorecard, and
Porter’s Five Forces
· A
wide-ranging study of factors that will challenge the MEA electric vehicle
plastics market’s growth during the upcoming years
Want
to get specific insights? Our team of analysts can customize this report based
on your preferences. Connect with us here.
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VIEW REPORT1. MIDDLE
EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE ELECTRIC VEHICLE PLASTICS INDUSTRY
2.2. EVOLUTION
& TRANSITION OF ELECTRIC VEHICLE PLASTICS
2.3. KEY
INSIGHTS
2.3.1. USAGE
OF ANTI-MICROBIAL PLASTICS/ADDITIVES IN ELECTRIC VEHICLES
2.3.2. USE
OF BIOPLASTIC IN ELECTRIC VEHICLES
2.3.3. INCREASE
IN ELECTRIC BUS & HEAVY-DUTY TRUCK (HDT) REGISTRATION IN 2020
2.4. PORTER’S
FIVE FORCES ANALYSIS
2.4.1. THREAT
OF NEW ENTRANTS
2.4.2. THREAT
OF SUBSTITUTE
2.4.3. BARGAINING
POWER OF BUYERS
2.4.4. BARGAINING
POWER OF SUPPLIERS
2.4.5. THREAT
OF COMPETITIVE RIVALRY
2.5. KEY
IMPACT ANALYSIS
2.5.1. SUPERIOR
TECHNOLOGY
2.5.2. APPLICATION
2.5.3. EFFICIENCY
2.5.4. COST-
EFFECTIVENESS
2.6. MARKET
ATTRACTIVENESS INDEX
2.7. VENDOR
SCORECARD
2.8. INDUSTRY
COMPONENTS
2.9. REGULATORY
FRAMEWORK
2.10. KEY
MARKET STRATEGIES
2.10.1. ACQUISITIONS
2.10.2. PRODUCT
DEVELOPMENTS
2.10.3. BUSINESS
EXPANSIONS
2.11. MARKET
DRIVERS
2.11.1. INCREASING
SIGNIFICANCE OF HIGH-PERFORMANCE PLASTIC TO ASSURE SAFETY AND SECURITY
2.11.2. EMPHASIS
ON ELECTRIC VEHICLE LIGHTWEIGHTING
2.12. MARKET
CHALLENGES
2.12.1. SLOW
ADOPTION OF ELECTRIC VEHICLES
2.12.2. ELECTRIC
VEHICLE PLASTIC RECYCLING ISSUES
2.13. MARKET
OPPORTUNITIES
2.13.1. ENHANCED
POPULARITY OF ELECTRIC MICROMOBILITY DUE TO THE PANDEMIC
2.13.2. SPENDING
ON ELECTRIC VEHICLES BY BOTH CONSUMERS & GOVERNMENT ON THE RISE
2.13.3. STRINGENT
EMISSION STANDARDS TO DRIVE ELECTRIFICATION
3. MIDDLE
EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY ELECTRIC VEHICLE
TYPE
3.1. BEV
3.2. HEV/PHEV
4. MIDDLE
EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY COMPONENT
4.1. POWERTRAIN
4.2. EXTERNAL
4.3. INTERNAL
5. MIDDLE
EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET OUTLOOK – BY PLASTIC TYPE
5.1. POLYURETHANE
(PU)
5.2. POLYAMIDE
(PA)
5.3. ACRYLONITRILE
BUTADIENE STYRENE (ABS)
5.4. POLYPROPYLENE
(PP)
5.5. POLYCARBONATE
(PC)
5.6. OTHER
ELECTRIC VEHICLE PLASTIC TYPES
6. MIDDLE
EAST AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET – COUNTRY OUTLOOK
6.1. UNITED
ARAB EMIRATES
6.2. SAUDI
ARABIA
6.3. TURKEY
6.4. SOUTH
AFRICA
6.5. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. DUPONT
7.2. DOW
CHEMICAL COMPANY
7.3. EVONIK
INDUSTRIES
7.4. INEOS
CAPITAL LTD
7.5. BASF
SE
7.6. PLASTIC
OMNIUM
7.7. MITSUI
CHEMICALS
7.8. COVESTRO
AG
7.9. ASAHI
KASEI CORP.
7.10. LANXESS
CORPORATION
7.11. LYONDELLBASELL
INDUSTRIES NV
7.12. SUMITOMO CHEMICAL CO LTD
7.13. MOMENTIVE
PERFORMANCE MATERIALS
7.14. HANWHA
AZDEL INC
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY COUNTRY, 2022-2028 (IN $
MILLION)
TABLE 2: VENDOR
SCORECARD
TABLE 3: REGULATORY
FRAMEWORK
TABLE 4: LIST OF
ACQUISITIONS
TABLE 5: LIST OF
PRODUCT DEVELOPMENTS
TABLE 6: LIST OF
BUSINESS EXPANSIONS & DIVESTITURES
TABLE 7: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY ELECTRIC VEHICLE TYPE,
2022-2028 (IN $ MILLION)
TABLE 8: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY COMPONENT, 2022-2028 (IN $
MILLION)
TABLE 9: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY PLASTIC TYPE, 2022-2028 (IN $
MILLION)
TABLE 10: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY COUNTRY, 2022-2028 (IN $
MILLION)
FIGURE 1: PLASTIC USE
IN ELECTRIC VEHICLES
FIGURE 2: KEY BUYING
IMPACT ANALYSIS
FIGURE 3: MARKET
ATTRACTIVENESS INDEX
FIGURE 4: INDUSTRY
COMPONENTS
FIGURE 5: RATIO OF
PUBLIC CHARGERS PER EV STOCK, BY COUNTRY, 2020
FIGURE 6: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, ELECTRIC VEHICLE TYPE OUTLOOK,
2021 & 2028 (IN %)
FIGURE 7: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY BEV, 2022-2028 (IN $ MILLION)
FIGURE 8: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY PHEV/ HEV, 2022-2028 (IN $
MILLION)
FIGURE 9: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, COMPONENT OUTLOOK, 2021 & 2028
(IN %)
FIGURE 10: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POWERTRAIN, 2022-2028 (IN $
MILLION)
FIGURE 11: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY EXTERNAL, 2022-2028 (IN $ MILLION)
FIGURE 12: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY INTERNAL, 2022-2028 (IN $
MILLION)
FIGURE 13: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, PLASTIC TYPE OUTLOOK, 2021 &
2028 (IN %)
FIGURE 14: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYURETHANE, 2022-2028 (IN $
MILLION)
FIGURE 15: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYAMIDE, 2022-2028 (IN $
MILLION)
FIGURE 16: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY ACRYLONITRILE BUTADIENE
STYRENE, 2022-2028 (IN $ MILLION)
FIGURE 17: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYPROPYLENE, 2022-2028 (IN $
MILLION)
FIGURE 18: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY POLYCARBONATE, 2022-2028 (IN $
MILLION)
FIGURE 19: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, BY OTHER ELECTRIC VEHICLE
PLASTICS, 2022-2028 (IN $ MILLION)
FIGURE 20: MIDDLE EAST
AND AFRICA ELECTRIC VEHICLE PLASTICS MARKET, COUNTRY OUTLOOK, 2021 & 2028
(IN %)
FIGURE 21: UNITED ARAB
EMIRATES ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: SAUDI ARABIA
ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: TURKEY
ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: SOUTH AFRICA
ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: REST OF
MIDDLE EAST & AFRICA ELECTRIC VEHICLE PLASTICS MARKET 2022-2028 (IN $
MILLION)