Use of plastics in electric vehicles to touch revenue of $ 73 Million in 2017, says Frost & Sullivan

By Editor


Use of plastics in electric vehicles to touch revenue of  $ 73 Million in 2017, says Frost & Sullivan

By Greentech Lead America: Along with the electric
vehicles production growth, plastics used in electric vehicles will also see a
tremendous growth in next five years. Plastics in the electric vehicles market
earned revenues of $ 0.5 million in 2010 and will reach $ 73 million in
2017. The advantages of plastics, particularly of lightweight will drive
penetration rates and growth.

According to Frost & Sullivan, as the electric
vehicles market takes off, it is set to have a positive ripple effect
on the uptake of plastics.

“Plastics for EVs are driven by lightweighting
trends which, in turn, are fuelled by the need to improve EV mile range. EVs
are typically characterized by huge batteries which add to the overall weight
of the vehicle and affect the mile range. To compensate for the battery weight,
metals are increasingly being substituted by plastic,” said Shree Vidhyaa
Karunanidhi, research analyst, Frost & Sullivan.

Plastics have huge potential in some of the minor,
non-moving components such as energy recovery devices, cooling pipes, pumps,
fans, and casing materials. Important structural components such as gears and
motors are made of metal. Strength and crash-resistance requirements indicate
that metals will remain the preferred material for these applications.

The current level of penetration of plastics in these
components varies. In the case of cooling pipes and fans, plastics are
preferred, whereas for other components such as energy recovery devices and
casing materials, plastics have low to moderate penetration. The inherent
features of plastics are, nonetheless, set to push their rapid growth rate in
these segments.

EU end-of-life vehicle (ELV) recycling legislation, which
entails the use of recyclable materials, poses another challenge to market
participants. Although thermoplastics used in these cars are recyclable,
automotive shredders are typically made up of different types of plastics.
These need to be sorted out before they are recyclable.

This issue can be solved if OEMs work with tier-1
suppliers to develop recycling technologies and it will ensure sustainable use
of plastics in the long-term.

[email protected]

Latest News