Recently, the modified plastics industry has made significant technological breakthroughs in the fields of new energy vehicles and smart home appliances. According to market research firms, China's modified plastics market will reached 310.7 billion yuan in 2023, a year-on-year growth of 6.44%, accounting for 28% of the global market share. This growth is mainly due to the explosive demand from downstream industries such as new energy vehicles, smart home appliances, and 5G communications. It is expected that by 2025, the market size will exceed 400 billion yuan, with a Compound Annual Growth Rate (CAGR) of 8-10%.
In the field of new energy vehicles, modified plastics are widely used in battery shells, charging pile housings and other components by improving properties such as heat resistance, flame retardancy and strength.
