Interior Trim Segment to Dominate Europe Plastics  For Electric Vehicle Market during 2020–2027

According to a new market research study on “Europe Plastics  For Electric Vehicle Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Plastics  Type, Component, Vehicle Type, and Application,” is expected to reach US$ 1013.47 million by 2027 from US$ 245.77 million in 2019. The market is estimated to grow at a CAGR of 19.6% from 2020 to 2027. The report provides trends prevailing in the Europe Plastics  For Electric Vehicle market along with the drivers and restraints pertaining to the market growth. Increasing demand of electric vehicles are the major factor driving the growth of the Europe Plastics  For Electric Vehicle market. However, issues associated with the recycling of Plastics  materials used in electric vehicle hinder the growth of Europe Plastics  For Electric Vehicle market.

The Europe market for Plastics  For Electric Vehicle market is segmented into Plastics  type, component, vehicle type, application, and country. Based on Plastics  type, the market is segmented into Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polycarbonate (PC), Polyvinyl Butyral, Polyurethane (PU), Polypropylene (PP), and others. In 2019, the polypropylene segment held the largest share Europe Plastics  For Electric Vehicle market. Based on component the Plastics  For Electric Vehicle market is divided into Dashboard, Seats, Interior Trim, Car Upholstery, Bumper, and Others. Interior trim is expected to be the leading segment over the forecast period. Based on vehicle type, the market is segmented into BEV, and PHEV/ HEV. BEV is expected to be the leading segment over the forecast period. Based on application , the market is segmented into Powertrain System/ Under Bonnet, Exterior, Interior, and Lighting and Electric Wiring. In 2019, the interior segment held the largest share in Europe Plastics  For Electric Vehicle market.

In Europe, Russia, France, Spain, UK, Italy and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

BASF SE, Solvay SA, DuPont de Nemours, Inc., The Dow Chemical Company, LG Chem Ltd., Lanxess AG, Sabic, Covestro AG, Asahi Kasei Corporation, and Lyondellbasell Industries Holdings B.V.are among the leading companies in the Europe Plastics  For Electric Vehicle market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, BASF recently inaugurated its new EMEA (Europe, Middle East and Africa) Application center for Plastics  Additives in Kaisten, Switzerland. The new facility, located in the existing BASF production site, includes a state of the art compounding extruder, stretch film and tape lines as well as an injection molding unit capable of simulating the polymer production and processing technology. The facility can combine intelligent process automation and expertise that will increase the quality of Plastics s produced.

The Report Segments the Europe Plastics  For Electric Vehicle market as Follows:

Europe Plastics  For Electric Vehicle Market – By Plastics  Type

• Acrylonitrile Butadiene Styrene (ABS)
• Polyamide (PA)
• Polycarbonate (PC)
• Polyvinyl Butyral
• Polyurethane (PU)
• Polypropylene (PP)
• Others

Europe Plastics  For Electric Vehicle Market – By Component

• Dashboard
• Seats
• Interior Trim
• Car Upholstery
• Bumper
• Others

Europe Plastics  For Electric Vehicle Market – By Vehicle Type

• BEV
• PHEV/ HEV

Europe Plastics  For Electric Vehicle Market – By Application

• Powertrain System/ Under Bonnet
• Exterior
• Interior
• Lighting and Electric Wiring

Europe Plastics  For Electric Vehicle Market – By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe