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Electric Vehicles Will Increase Global Demand for Plastics

It's physics. The #batteries in #electric vehicles are very heavy. So there is a need to not only offset the weight increase but also use #lightweight materials in the body structure of the vehicle. The lighter the vehicle is, the more #range can be obtained with the same battery power.

That's where @plastics come in.

The Plastics Automotive Market Will Grow

According to Forbes, "The global automotive plastics market size was USD 40.91 billion in 2019 and is projected to reach USD 53.85 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period"..

How Plastics Are Made

“Plastics are made from raw materials like natural gas, oil or plants, which are refined into ethane and propane.”

Until the majority of plastics is made from #recycled materials or #plants, the #demand for crude oil or natural #gas based #distillates requires to make #plastics will continue to increase.

Learn more how plastics are made.

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