While a lot of discussions are happening on other ValuePickr threads (Electric Cars/Bus :: Call it a Disruption?) on the increased usage of Copper, Aluminium, Graphite, Cobalt, Lithium etc., for Electric Vehicles (EV), I have not seen any discussions regarding the usage of plastics on Electric Vehicles.
I feel that, there will be significant increase in usage of plastics (including ABS) in the Electric Vehicles. Following article suggests that, the global plastic in electric vehicles market is estimated to grow with a CAGR of 37.3% and will reach $943.01m by 2021:
https://forums.tesla.com/forum/forums/plastics-electric-vehicles-soaring
Here is another article, which projects a slightly less CAGR number of 28% though:
Following whitepaper from TATA Strategic Management Group suggests that the usage of polymers in vehicles (kg per vehicle) is constantly on the rise (primarily led by replacement of metals with polymers) globally and the same has grown from 120 kg (per vehicle) in 2013 to 150 kg in 2015.
http://gcpa.themachinist.in/digital_assets/553/Whitepaper.pdf
Key drivers for Auto OEMs adopting plastics have been its lower weight, cost economies and versatility offered in the design. In case of overall plastic consumption, the consumption of plastics per vehicle in India lags developed countries (India’s usage is half of the global average) considerably, hence here exists significant headroom for strong growth of polymers/plastics in India in coming decades.
Even on non-electric vehicles, plastic play a key role in improving fuel efficiency and lower emission by reducing the weight of vehicle. 1 Kg of plastic can typically replace 2-3 Kg of traditional materials in a vehicle. And typically, 100Kg reduction in weight can save 0.3-0.4 Litre of fuel on a distance of 100 Km, as per the Europe commission report on light-weighting.
Reva e20, Mahindra Reva’s electric vehicle, uses 80 kg of plastics for instrument panel, fenders, front & rear bumper and the plastic body.
I feel that BEPL has already started benefiting from the EV market and going forward, it will see even more increased benefits, considering that, India has set itself an ambitious target of having only electric cars by 2030 (https://economictimes.indiatimes.com/industry/auto/news/industry/indias-all-electric-cars-target-bumps-on-the-way-of-nitin-gadkaris-bulldozer/articleshow/60424970.cms).
I would request all your valuable opinions on this.