The global electric vehicle plastics market has been experiencing significant growth and is projected to expand from $2.22 billion in 2023 to $16.7 billion by 2033, driven by the growing demand for electric vehicles and advancements in material technology. Trends such as the rising urban population, expansion of e-commerce, and favorable government initiatives are expected to fuel this growth. Key segments include polypropylene and battery electric vehicles, with a forecast for rapid development in polyamide resins and fuel cell electric vehicles. Asia Pacific leads the market, with investment strategies focusing on eco-friendly materials and sustainable technologies to enhance the safety and efficiency of electric vehicles.
In other market news, Nissan Motor was trading firmly up 9.6% and ending the day at ¥459. At the same time, WeRide lagged, down 18.9% to close at $27.59.
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Ford Motor closed at $9.39 up 0.5%, close to the 52-week low.
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NIO finished trading at $4.37 down 0.5%.
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Tesla finished trading at $354.40 down 1.7%. On Wednesday, Tesla agreed to deliver 40 Semi trucks to WattEV, with two already in use to enhance freight services in California.
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