The Electric Vehicle Polymers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electric Vehicle Polymers Global
Market Report 2024, The electric vehicle polymers market size has grown
exponentially in recent years. It will grow from $12.73 billion in 2023 to
$20.68 billion in 2024 at a compound annual growth rate (CAGR) of 62.4%. The
growth in the historic period can be attributed to early ev development,
automotive industry shifts, manufacturing advancements, initial r&d in ev
components, battery safety concerns..
The electric vehicle polymers market size is expected to see exponential growth
in the next few years. It will grow to $126.47 billion in 2028 at a compound
annual growth rate (CAGR) of 57.3%. The
growth in the forecast period can be attributed to evolving consumer
preferences, urbanization and smart city initiatives, increase in range and
performance requirements, shift towards sustainable materials, global climate
goals and emissions standards.. Major trends in the forecast period include
supply chain optimization, adoption of bio-based polymers, nanotechnology in
polymer development, integration in interior components, customized polymer
composites..
The increasing demand for electric vehicles is expected to propel the growth of
the electric vehicle polymers market going forward. An electric vehicle is a
vehicle that runs on one or more electric motors that draw electricity from an
external power source. Polymers are used in electric vehicles to reduce weight,
boost efficiency, durability, and design flexibility. For instance, in
September 2022, according to the International Energy Agency, a France-based
autonomous intergovernmental organization, electric car sales set a new high in
2021, climbing by 4%. Sales nearly doubled to 6.6 million, increasing the total
number of electric vehicles on the road to 16.5 million. Therefore, the
increasing demand for electric vehicles is driving the growth of the electric
vehicle polymers market.
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The electric vehicle polymers market covered in this report is segmented –
1) By Type: Engineering Plastics, Elastomers
2) By Component: Powertrain System, Exterior, Interior
3) By End User: Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric
Vehicles (PHEV), Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicle
(FCEV)
Product innovations are a key trend gaining popularity in the electric vehicle
polymers market. Companies operating in the electric vehicle polymers market
are innovating new products to sustain their position in the market. For
instance, in March 2023, Solvay, a Belgium-based chemical company, launched
Xydar LCP G-330 HH, a new polymer for high-heat electric vehicle battery module
insulation. A new liquid crystal polymer grade, Xydar LCP G-330 HH, will boost
passenger safety during a battery thermal runaway. It is a brand-new high-heat
and flame-resistant grade explicitly designed for the battery module plates of
electric vehicle models running on higher voltage systems. It fulfills
demanding thermal and insulation requirements. It is an injection-molded glass-filled
LCP that can maintain its electrical insulation after being exposed to 400°C
for 30 minutes. Without the addition of halogen or bromine additives, Xydar LCP
is a naturally flame-resistant polymer.
The electric vehicle polymers market report table of contents includes:
1. Executive Summary
2. Electric
Vehicle Polymers Market Characteristics
3. Electric
Vehicle Polymers Market Trends And Strategies
4. Electric
Vehicle Polymers Market - Macro Economic Scenario
5. Global
Electric Vehicle Polymers Market Size and Growth
.
32. Global Electric Vehicle Polymers Market Competitive Benchmarking
33. Global
Electric Vehicle Polymers Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Electric Vehicle Polymers Market
35.
Electric Vehicle Polymers Market Future Outlook and Potential Analysis
36.
Appendix
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