Top Companies in the Electric Vehicle Plastic Market | Vantage market research Detailed Overview of Industry Leading Players
Because of the high versatility and easy mold ability of plastics, thermoplastic polymers can be produced in a variety of shapes and designs to meet the needs of electric vehicles.
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Market Overview:
The global Electric Vehicle Plastic market was valued at USD 942.5 Million in 2021 and is projected to reach a value of USD 3862.1 Million by 2028 at a CAGR of 26.50% over the forecast period. The components of Electric Vehicles are made of plastic, which is classed as electric vehicle plastic. Most electric vehicles use metallic batteries; however, the weight of the metal hinders the vehicle from functioning properly. As a result, plastic is used to keep the car in good working order. Electric car plastic is used in the production and supply of electric vehicle parts. Electric car polymers make up the luggage compartment, interior, exterior, and bonnet area. Plastic vehicles include polypropylene (PP), polyurethane (PUR), Acrylonitrile Butadiene Styrene (ABS), polyvinyl chloride (PVC), polyoxymethylene (POM), polystyrene (PS), polycarbonate, polyamide (PC), acrylic (PMMA), and others (Polyethylene). The growing demand for weight reduction in electric vehicles combined with an increase in demand for thermally stable plastic is expected to drive the demand for plastic in electric vehicles.
List of top market players:
|
Company Name |
Revenue in USD |
|
$86 Billion |
|
$31 Billion |
|
$55 Billion |
|
$22 Billion |
|
$46 Billion |
|
$16 Billion |
|
$10 Billion |
|
$27 Million |
|
$1 Billion |
|
$12 Billion |
BASF SE is a German multinational chemical company and the largest chemical producer in the world. Its headquarters is located in Ludwigshafen, Germany. Around 111,000 employees in the BASF Group contribute to the success of the customers in nearly all sectors and almost every country in the world. The company’s portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.
SABIC is a global leader in chemicals headquartered in Riyadh, Saudi Arabia. From making cars and planes more fuel-efficient to helping conserve the world’s water supply and enabling colorful smartphone cases, the company finds solutions to the challenges of today to help the customers achieve their ambitions and build a better tomorrow. The company supports its customers by identifying and developing opportunities in key end markets such as electrical and electronics, transportation, medical devices, construction, packaging, agri-nutrients, and clean energy. SABIC has more than 33,000 employees worldwide and operates in more than 50 countries. Fostering innovation and a spirit of ingenuity, the company has about 12,500 global patent filings, and has significant research resources with innovation hubs in five key geographies USA, Europe, Middle East, North-East Asia, and South-East Asia.
Dow (NYSE: DOW) combines global breadth, asset integration, and scale, focused innovation and materials science expertise, leading business positions, environmental, social, and governance (ESG) leadership to achieve profitable growth and deliver a sustainable future. The Company's ambition is to become the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. Dow's portfolio of plastics, industrial intermediates, coatings, and silicones businesses delivers a broad range of differentiated, science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility, and consumer applications. Dow operates 104 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $55 billion in 2021.
DuPont is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life by applying diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, building, and construction, healthcare and worker safety. As of December 31, 2021, the Company has subsidiaries in about 60 countries worldwide and manufacturing operations in about 25 countries.
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals, and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2021, LyondellBasell was named to FORTUNE Magazine's list of the “World's Most Admired Companies” for the fourth consecutive year.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €15 billion and an operating profit (adjusted EBITDA) of €2.38 billion in 2021. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. More than 33,000 employees work together for a common purpose which is to improve life, today and tomorrow.
Headquartered in France, Arkema was founded in 2004. The company is engaged in manufacturing and supplying chemicals. Arkema’s product portfolio includes acrylics, plastic additives, specialty adhesives, technical fluids, fluorochemicals, organic peroxide, hydrogen peroxide, fluoropolymers, and coating resins, among others. The company’s products are widely used across numerous industries including automotive and transportation, paints and coatings, building and construction, and consumer goods, among others. Arkema operates in four business segments, namely Advanced Materials, Coating Solutions, Adhesive Solutions, and Intermediates. Arkema conducts its operations at a global level across 55 countries. The company has 144 production facilities of which 61 are located in Europe, 43 in North America, and 40 in Asia and the Rest of the World.
AGC Chemicals Americas is a wholly-owned subsidiary of AGC Inc., a $14.1 billion multinational corporation and one of the world’s largest manufacturers of glass, electronic displays, and chemical products. The company was formed in 2004 through the merging of sister companies Asahi Glass Fluoropolymers USA and AGA Chemicals. Headquartered in Exton, Pennsylvania, including a state-of-the-art technology center, AGC Chemicals Americas maintains manufacturing operations in nearby Thorndale, Pennsylvania, a satellite sales office in Sao Paulo, Brazil, and warehouses located throughout North America.
Founded in 1978, Formosa Plastics Corporation, U.S.A. (Formosa Plastics) is a growing, vertically-integrated supplier of plastic resins and petrochemicals. With annual revenues of more than $5 billion, the company employs over 3,000 people who operate over 20 production units in five business divisions that are Olefins, Polyolefins, Vinyl, Specialty Polyvinyl Chloride, and Chlor-Alkali. Formosa Plastics offers a full line of polyvinyl chloride, polyethylene and polypropylene resins, caustic soda, and other petrochemicals that deliver the consistency, performance, and quality that customers demand.
Solvay is a Belgian multinational chemical company, with its headquarters located in Neder-Over-Heembeek, Brussels, Belgium. Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 21,000 employees in 63 countries, Solvay bonds people, ideas, and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources, and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, and water, and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €10.1 billion in 2021. Solvay is listed on Euronext Brussels and Paris (SOLB).
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