The government regulations in Europe, which was the first area to adopt electric cars, are very helpful for the expansion of the EV industry. The EV market in this country is also greatly benefiting from tax exemptions and subsidies.
Additionally, a lot of plastic is being produced for electric vehicles by European chemical companies.
The lightweight plastic trend is driving profitable growth in the electric car plastics industry. The electric plastic industry is primarily driven by battery electric vehicles (BEV), which will accelerate the expansion of electric vehicle plastic.
The vehicle’s weight is lowered thanks to the plastic, which improves performance and spurs demand for polymers for electric vehicles.
Advanced technologies for hybrid, battery-electric, and plug-in hybrid cars can utilise vehicle plastic, which opens up new possibilities. The expansion of the electric vehicle plastic industry has been fueled by government laws and regulations about car emissions and an increase in the sales of electric vehicles.
The Europe EV Plastics Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
LANXESS, a specialty chemicals business, and INFAC, a Korean auto parts expert, have created a battery module housing for electric cars (EVs).
Durethan BKV30FN04 from LANXESS is used in the battery housing to meet the strict mechanical and chemical property requirements for the newest EV components. Excellent flame-retardant and electrical qualities define the halogen-free, flame-resistant, and glass-fiber reinforced polyamide 6 (PA6).
Due to the material’s high processing capacity and ability to integrate the complicated functionalities needed for housing components, there are fewer parts, an easier assembly procedure, and less weight as a result.
For the project management, engineering, procurement, and construction management and supervision services for a large-scale ethylene plant in Europe, Ineos has given Técnicas Reunidas a contract.
Ethylene is a raw material required for goods that are used in, among other things, wind power plants, solar panels, medical equipment (such as blood bags, sterile containers, magnetic resonance scanners, etc.), long-lasting construction materials, textile products, and lightweight automobile components.
The European chemical industry will have made its greatest capital investment with this one. It will be the most ecologically friendly and energy-efficient facility of its kind in Europe thanks to the innovative technologies used in its creation.
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