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Nearly all of the major automakers are producing electric vehicles and their variants as part of a shift toward making cars that emit fewer greenhouse gases and use less fuel.
As a result, improved year-over-year sales of electric vehicles have a direct impact on the growth of the electric vehicle plastics market. Another element boosting the market’s expansion is the drop in the cost of the raw materials required to make electric cars.
The growing usage of plastics as raw materials in the production of automotive components and supplies is one of the key reasons driving the growth of the electric vehicle plastics market.
The battery-electric vehicle (BEV) range and fuel economy are both increased by the use of lightweight polymers in electric cars. The plastics industry for electric vehicles is driven by the advantages of plastics including fewer carbon emissions and less dependency on petroleum.
The UAE EV Plastics Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
An increasing ecosystem of resources, initiatives, solutions, and knowledge called BlueHero has been introduced by Sabic, a world leader in the chemical business, in an effort to hasten the transition from fossil fuels to electricity.
The company’s goal with BlueHero is to help the automotive industry’s effort to build better, safer, and more effective electric vehicles (EVs), with a focus on structural battery component improvement using distinctive flame retardant materials and solution development know-how.
To assist the automobile sector in improving the performance of EVs, Sabic offers cost-effective and technologically cutting-edge thermoplastics, which can give considerable benefits over traditional materials (metals).
In order to provide customers with solutions that can meet stringent requirements and facilitate effective production, Sabic’s new BlueHero electrification initiative also makes use of specific knowledge and expertise in the fields of large part molding, compression molding, advanced injection molding, and polymer flame interaction.
