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The electric car plastics business is seeing lucrative expansion as a result of the lightweight plastic trend. Battery electric vehicles (BEV), which are the main industrial catalyst for the development of electric plastic, will hasten this growth.
The material reduces the weight of the vehicle, improving performance and boosting demand for polymers for electric vehicles.
Demand is also expected to increase since plastic performs better than metal in electric car applications. Less reliance on petroleum and lower carbon emissions are two reasons driving the market for polymers used in electric vehicle components.
In order to reduce weight without compromising performance, plastics are projected to be utilized in the manufacture of energy recovery devices, pumps, fans, casings, and non-moving parts for electric cars. This is expected to increase demand for electric vehicle plastics globally.
The France 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.
Plastic Omnium plans to acquire ACTIA Power and buy a share in Verkor in order to accelerate the expansion of its electric mobility business. The leading provider of automobile energy storage technologies is Plastic Omnium.
In order to address the expanding demands of the mobility players, it is following its growth strategy in the quickly expanding sector of electrification by developing a wide variety of energy management solutions.
Plastic Omnium will get access to a new technical platform and cutting-edge R&D skills in the design of electronic components as well as in electric power storage and management systems through the planned acquisition of ACTIA Power.
With the help of financing and business collaboration with Verkor, Plastic Omnium will be able to design and produce electric battery modules for mobility players. As a result, the Group will be able to satisfy the demands of all-electric cars, including fuel cell stacks, hybrids, plug-in hybrids, and battery-powered vehicles.
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