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The worldwide car industry has undergone a technical revolution as a result of the rising demand for electric vehicles brought on by an increased awareness of environmental issues, which is backed by innovation, the government, and OEM expenditures.
As a result, there is a growing need for related sectors, such as plastics, which is a crucial component in the production of electric cars.
One of the key factors driving the market for electric vehicle plastics is the requirement for lightweight materials by manufacturers to create electric vehicles. The demand for electric vehicles is anticipated to rise, which will fuel the market for electric vehicle plastics. Growing environmental concerns
The Taiwan 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.
Formosa Plastics Corp. (FPC) and Foxconn (Hon Hai), a manufacturer of iPhones in Taiwan, have joined forces to collaborate on the production of electric vehicles (EVs).
In recent years, FPC has had success creating EV batteries.
Foxconn has been scrambling to create its own EV batteries in the meanwhile. The two main items that Foxconn is concentrating on right now are lithium iron phosphate batteries and solid-state batteries.
The world’s longest fire-resistance performance was delivered by a novel plastic product developed by LG Chem specifically for battery applications that can stop the spread of flame in batteries.
Thanks to the company’s unique technology and production techniques, LG Chem’s flame-retardant engineering plastic product can stop the spread of fires. A highly functional engineering plastic product composed of different composites, including polyphenylene oxide (PPO) and polyamide (PA) resin, makes up the new advanced flame barrier product developed by LG Chem.
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