• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Market Analysis

Connecting the Dots, Quantifying Technology Trends & Measuring Disruption

  • About
    • Reports
    • How to conduct market analysis
    • How to conduct a stock market analysis
    • What is market scenario?
    • How to do a competitive market analysis
    • Methodology
    • Why is market analysis important?
    • What is economy analysis?
    • How to do a market analysis for a business plan
  • Technology
    • How to do a technology market analysis with focus on disruption factor
    • Venture Capital
      • How to do market analysis for a startup raising funding
  • Domain Marketplace
  • Sponsored Post
  • Contact

Plastics to blame: Increasing sales of electric cars in the U.S. have not yet resulted in a significant decrease in demand for oil

January 11, 2023

It is true that the increasing sales of electric cars in the United States have not yet resulted in a significant decrease in demand for oil. One of the main reasons for this is the continued reliance on fossil fuels, particularly oil, in the production of plastics.

Plastic is a versatile and widely used material in the manufacturing of consumer goods, packaging, and industrial products. The vast majority of plastics are made from petrochemicals, which are derived from oil and natural gas. The demand for plastic products has been increasing in recent years, driven by population growth, urbanization, and rising disposable incomes.

According to the US Energy Information Administration, in 2019, the plastics industry consumed about 2.4% of the total energy used by the US manufacturing sector, and about 8% of the total oil used by the manufacturing sector. This is expected to increase in the coming years as the demand for plastic products continues to grow.

The reliance on oil in the production of plastics is a key reason why the increased sales of electric cars have not yet translated into a significant decrease in oil demand. While electric cars can help to reduce transportation-related oil consumption, the use of oil in other sectors, such as plastic production, still represents a significant portion of overall oil demand.

Additionally, recycling and repurposing plastics is not yet done in large scale in US, this can help to decrease the oil consumption, by reducing the need to produce virgin plastic. Furthermore, there are also research and development on alternative bioplastics, that can be made from renewable resources such as plant-based materials, although these materials are still in early stages of development and need more innovation and investment to become economically viable at large scale.

In conclusion, while the increasing adoption of electric cars represents an important step towards reducing oil consumption in the transportation sector, the continued reliance on oil in the production of plastics means that it is unlikely to result in a significant decrease in overall oil demand in the near future. Developing alternative materials and technology, investing in recycling and repurposing, as well as investing in research and development on bioplastics, could help to mitigate this trend and reduce the overall consumption of oil.

Filed Under: Reports Tagged With: EV, plastics

Footer

Recent Posts

  • How insurers thrive in a turbulent market
  • Leveraging Artificial Intelligence to Drive Cost Savings and Productivity in Uncertain Times
  • The shipping industry is undergoing a significant change with the influx of new vessels arriving just as the growth of trade is beginning to slow down
  • Climate change is increasingly affecting the production of beer ingredients
  • Unfulfilled Dreams: The Aftermath of China’s Stalled Real Estate Developments
  • Huawei on the Brink: Biden Administration Considers Cutting Off the Tech Giant”
  • Key Fire Industry Trends for 2023
  • The Future of Food: Top Trends to Watch in 2023 and Beyond
  • How to discover the treasure trove of hidden marketing insights by watching customer behavior
  • Navigating Uncertainty: Prioritizing Hydrogen R&D Efforts for a Sustainable Future

RSS Market Research Media

  • Streaming video, training, and gaming coming together to form a cohesive and diverse media and entertainment ecosystem
  • Turn Your Story into a Game: The Art of Gamifying Your Plot
  • The end of cheap money is redrawing the map of corporate earnings
  • The Future of Virtual Reality: How VR is Changing Industries
  • Market Research Media Survey: The State of Streaming Services
  • Media measurement services provide a holistic view of cross-media consumption
  • Gen Z ranks top in luxury sales
  • How to market recycled products
  • How generative artificial intelligence affects advertising creatives
  • 85% of marketers prefer visuals over text

Media Partners

  • Technology Conferences
  • Event Sharing Network
  • Defense Market
  • Cybersecurity Events
  • Event Calendar
  • Calendarial
  • Opinion
  • Venture Capital
  • Opinion
  • Exclusive Domains

Terms of Service | Privacy Policy | Supplier Disclaimer | Copyright © 2015 MarketAnalysis.com

Technologies, Market Analysis & Market Research Reports

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT