Global Electric Vehicles Polymer Market, By Type (Engineering Plastics, Elastomers, Others), Component (Powertrain, Exterior, Interior, Others), Vehicle Type (Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-in hybrid electric vehicles (PHEVs)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Electric Vehicles Polymer Market
The electric vehicles polymer market is estimated to reach a value of USD 6.49 billion by 2028 and is expected to grow at a compound annual growth rate of 7% for the forecast period of 2021 to 2028. Data Bridge Market Research report on electric vehicles polymer market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Electric vehicle polymers are the type of polymers used in electric cars and helps in increasing the efficiency of the vehicle by dropping the weight of the vehicle. Polymers resemble the uniqueness of metals such as better flame toughness, retardancy and insulating properties.
The increase in manufacturing and sales of electric cars across the globe is likely to influence the growth of the electric vehicles polymer market. In line with this, the rise in the usage to reduce the weight of electric cars is also acting as a key determinant which will favor the growth of the electric vehicles polymer market over the forecast period of 2021 to 2028. Furthermore, the favorable government regulations and high investment in the development of charging infrastructure are also expected to positively impact the growth of the electric vehicles polymer market. The major factor which is expected to forward the growth of the market is the rapid increase in the demand for the adoption of new electrical car components.
However, the fluctuating raw material prices and high cost of polymers are expected to act as key restraint towards electric vehicles polymer market growth rate in the forecast period of 2021 to 2028. Whereas, the rise in need for technologically advanced polymers from electric car manufacturers is expected to challenge the growth of the electric vehicles polymer market in the above mentioned forecast period.
Furthermore, the high adoption of polymers in new components of electric cars and the various advantages related with the polymers such as weight reduction which helps in getting enhanced mileage or better fuel efficiency are expected to offer a variety of growth opportunities for the electric vehicles polymer market in the above mentioned forecast period.
This electric vehicles polymer market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the electric vehicles polymer market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electric Vehicles Polymer Market Scope and Market Size
The electric vehicles polymer market is segmented on the basis of type, component and vehicle type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on type, the electric vehicles polymer market is segmented into engineering plastics, elastomers and others. Engineering plastics have further been segmented into polypropylene, polyphenylene sulphide (PPS), acrylonitrile butadiene styrene (ABS), fluoropolymer, polyurethane, thermoplastic polyester, polycarbonate, polyamide and others. Elastomers have further been segmented into natural rubber, silicone elastomer, synthetic rubber and fluoroelastomer.
- On the basis of component, the electric vehicles polymer market is segmented into powertrain, exterior, interior and others.
- The vehicle type segment for electric vehicles polymer market is segmented into battery electric vehicles (BEVs), hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs).
Global Electric Vehicles Polymer Market Country Level Analysis
The electric vehicles polymer market is analyzed and market size, volume information is provided by country, type, component and vehicle type as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the electric vehicles polymer market because of the high production of electric vehicles in major economies of the region such as China and Japan. China is the largest consumer of electric vehicle polymers, due to the growth in the production of electric cars in China. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the increase in the concerns for the reduction of carbon footprints.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric vehicles polymer Market Share Analysis
The electric vehicles polymer market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electric vehicles polymer market.
The major players covered in the electric vehicles polymer market report are BASF SE, DuPont, Dow, Covestro AG, Celanese Corporation, SABIC, Solvay, LANXESS, LG Chem, Asahi Kasei Corporation, Evonik Industries AG, DAIKIN INDUSTRIES, Ltd., Arkema, Mitsubishi Engineering-Plastics Corporation, JSR Corporation, AGC Chemicals Americas, Sumitomo Chemical Co., Ltd., LyondellBasell Industries Holdings B.V., Elkem ASA and DSM among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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