BUSINESS: Global Electric Vehicle Polymers Market To Reach US$27.3 Billion By 2026 – ResearchAndMarkets.com

dWeb.News Article from Daniel Webster dWeb.News

By Daniel Webster, dWeb.News Publisher

DUBLIN–(BUSINESS WIRE)–The “Electric Vehicle Polymers – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

The manufacture of electric vehicles (EVs) uses materials that are lightweight which can substitute metal parts so as to lessen the vehicle weight. Many exterior and interior parts of the vehicle are made from polymers, including panel, dashboard and bumper, trim, wheels, powertrain and other components under the hood and roof, as well as components within the doors. The increased production of battery-powered electric vehicles (BEVs) is driving the development of high-performance polymers with enhanced properties that can meet the needs of electric propulsion.

BEVs sales are expected to rise as BEV technology develops simultaneously with energy density, battery capacity, and the vehicles become more autonomous and connected. The automotive sector’s polymers consumption is expected to increase continuously. This growth rate will be determined by the types and applications of plastic used in automobiles as well as recycling efforts from different regions and interpolymer substitute. Plastics’ growth rates, such as PA and PP, will increase with the introduction of EVs, while engineering plastics’ consumption will decrease.

Amid the COVID-19 crisis, the global market for Electric Vehicle Polymers estimated at US$3.9 Billion in the year 2020, is projected to reach a revised size of US$27.3 Billion by 2026, growing at a CAGR of 38.7% over the analysis period.

Engineering Plastics, one of the segments analyzed in the report, is projected to grow at a 40.9% CAGR to reach US$23.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Elastomers segment is readjusted to a revised 35.5% CAGR for the next 7-year period. This segment currently accounts for a 44% share of the global Electric Vehicle Polymers market.

The Electric Vehicle Polymers market in the U.S. is estimated at US$850.1 Million in the year 2021. The country currently accounts for a 17.3% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$8.3 Billion in the year 2026 trailing a CAGR of 43.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.4% and 36.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 34.6% CAGR while Rest of European market will reach US$3.1 Billion by the end of the analysis period. Asia-Pacific is the largest market due to increased concern about the environment and EV manufacturers’ ambitious business expansion plans in China, South Korea and Japan. The total European market will reach US$3.1 Billion by the end of the analysis period.

Select Competitors (Total 48 Featured):

AGC Chemicals
Arkema
Arlanxeo
Asahi Kasei
BASF SE
Celanese
China Petrochemical Group (Sinopec Group)
Covestro
Daikin Industries
DowDuPont
DSM Engineering Plastics
Elkem
Evonik Industries
JSR Corporation
LANXESS
LG Chem
Lyondellbasell Industries
Mitsubishi Engineering-Plastics Corporation
SABIC
Solvay
Sumitomo Chemicals
The Goodyear Tire & Rubber Company

Key Topics Covered:

MARKET OVERVIEW

As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
Structural Shifts in Automotive Industry Affects the EV Polymers Market
Disruption to Supply Chains Impacts Electric Vehicle Polymers Market Prospects
EV Industry Likely to See Significant Changes in Post COVID Period
Global Chip Shortage Mars the Expected Recovery of the Auto Industry in 2021 & 2022. EVs to Also Feel the Pain
Polymers Provide Reliability, Performance and Protection
Plastics & Electric Vehicles: The Power of Two for Greener Transportation
Plastics Caters to Specific Needs of Electric Vehicles
Electric Vehicle Makers Hustle to Make Changes by Embracing Polymer Parts
Polymers Transforming the Global EV Industry
Increasing Use of Polymers in Automobiles

MARKET TRENDS & DRIVERS

Transportation Industry in the Spotlight for its Unsustainable Increase in Carbon Footprint
Stringent Regulations Encompassing Emission Control & Phase-Out of Fossil Fuel Vehicles Prep the Auto Industry for an Electrified Future
Difficult to Reduce Carbon Footprint of Fossil Fuel Vehicles, Brings the Auto Industry into the Spotlight as a Major Area for Sustainability Action
Demand for Sustainability to Drive Sales of EVs
Adoption of Advanced Plastics and Polymer Composites Provides Clear Advantage for EV Uptake
Polymers to Electrify Vehicle Electrification Trend with Lightweighting & Better Range
Sophisticated Polymers Set Perfect Stage for Automotive Lightweighting
Polymers: Bright Future in Manufacturing Electric Vehicle
Thermal Conductive Polymer Material for EV Market Vrooms with Electric Vehicle Boom
Advantages Weigh in More with Usage of Polymers in EV and Other Vehicles
“Smart’ Membrane for Fast Charging of Batteries
Fewer Distribution Channels – A Key Challenge to Overcome
Demographic Trends Create Fertile Environment for Long-Term Growth of Electric Vehicles Market

For more information about this report visit https://www.researchandmarkets.com/r/7kq5u8

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. You will find the most recent data on the global and regional markets, top companies, and new products.

More dWeb.News Business News at https://dweb.news/category/dweb-news/section-b-business-news/

The post BUSINESS: Global Electric Vehicle Polymers Market To Reach US$27.3 Billion By 2026 – ResearchAndMarkets.com appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News – dWeb Local Tech News and Business News

dWeb.NewsRead More

Similar Posts