Electric Vehicles Polymers Market size valued at USD 26.90 Billion in 2022 is to reach a value of USD 1627.59 Billion in 2030, at a CAGR of 67%.
The polymers used in electric vehicles allow for weight reduction without sacrificing the vehicle’s performance.
The only materials that can replace metals are polymers since they share many of their characteristics, including heat resistance, stiffness, abrasion resistance, toughness, and flame resistance.
The main strategy employed by producers of electric vehicles to lessen the total weight of their products is the replacement of metals with polymers.
Many interior and external vehicle parts, including the panel, dashboard, trim, bumper, wheelhouse, powertrain, additional components under the roof, hood, and door components, are made of polymers.
The development of high-performance polymers with improved qualities to meet the demands of electric propulsion is being fueled by the rising production of battery-powered electric vehicles, or BEVs.
Sales of BEVs are predicted to rise steadily as BEV technology advances along with energy density and battery capacity and as vehicles become more autonomous and networked.
The use of polymers in the automotive industry is predicted to increase steadily, with growth rates dependent on the applications and types of plastic used in automobiles, regional recycling initiatives, and inter-polymer substitution.
With the advent of EVs, it is predicted that the growth rate of some plastics, such as PA, PE, PP, and PC, would accelerate while the use of technical plastics is predicted to decline.
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Polymers for electric vehicles (EVs) are structural materials that are used to improve the efficiency of EVs by lowering the vehicle’s kerb weight. Polypropylene, Acrylonitrile Butadiene Styrene, PVC, Polyamide, Polycarbonate, and other polymers that are the only replacement for metals such as steel, aluminium, and magnesium alloys are projected to see great demand in the next years. Automobile manufacturers are continually concentrating on producing highly efficient electric vehicles by either reducing the weight of the car or improving the range of EVs via battery extension when new EV models are introduced in emerging nations.
Global Electric Vehicles Polymers Market: Segmentations
Top Key Players:-
- BASF SE
- Celanese Corporation
- Covestro AG
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Kumho Polychem
- Lanxess AG
- LG Chem Ltd.
- Saudi Basic Industries Corporation
- Daikin Industries
- JSR Corporation
- LyondellBasell Industries
- Mitsubishi Engineering-Plastics Corporation
Based on Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polyphenylene Sulfide (PPS)
- Thermoplastic Polyester
- Natural Rubber
- Synthetic Rubber
- Silicone Elastomer
Based on Components
- Powertrain Systems
Based on Region
- North America
Table of Contents
- Market Introduction and Market Overview
- Market – Executive Summary
- Market Trends, Outlook, and Factors Analysis
- Market: Estimates & Historic Trend Analysis (2018 to 2021)
- Market Estimates & Forecast Trend Analysis, by Deployment
- Market Estimates & Forecast Trend Analysis, by Component
- Market Estimates & Forecast Trend Analysis, by Content Type
- Market Estimates & Forecast Trend Analysis, by End Use
- Global Electric Vehicles Polymers Market Analysis and Forecast, by Region
- North America Electric Vehicles Polymers Market: Estimates & Forecast Trend Analysis
- Europe Electric Vehicles Polymers Market: Estimates & Forecast Trend Analysis
- Asia Pacific Electric Vehicles Polymers Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Electric Vehicles Polymers Market: Estimates & Forecast Trend Analysis
- Latin America Electric Vehicles Polymers Market: Estimates & Forecast Trend Analysis
- Competitive Landscape
- Company Profiles
- Assumptions and Research Methodology
- Conclusions and Recommendations
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