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The growing demand for electric vehicles driven by a greater awareness of environmental concerns, which is supported by innovation, the government, and OEM investments, has resulted in a technical revolution in the global auto industry.
As a result, there is an expanding need for allied industries, such as plastics, which are an essential part of the manufacturing of electric vehicles.
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.
The Japan 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.
To make lithium-ion power cells safer and ultimately pave the way for their widespread use in electric cars, a Japanese startup, ABP plans to begin commercial manufacture of a battery built completely of plastic this year.
APB’s initial focus is on the enormous market for massive batteries that are used to store electricity from solar and wind farms until it is required by the country’s power infrastructures.
APB, short for “all polymer battery,” employs unique polymers with electrical conductivity. All of its components, in contrast to the majority of lithium-ion batteries, are plastic.
From smartphones to electric vehicles, a lot of devices employ lithium-ion batteries. However, there have apparently been several incidents when batteries have heated up and caught fire.
Polymers have stronger resistance to electrical currents, which prevents the batteries used by APB from being significantly overheated.
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