Electric Vehicle Polymers Global Strategic Business Report
Dublin, May 16, 2024 (GLOBE NEWSWIRE) — The “Electric Vehicle Polymers – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
Global Electric Vehicle Polymers Market to Reach $105.4 Billion by 2030
The global market for Electric Vehicle Polymers estimated at US$8.9 Billion in the year 2023, is projected to reach a revised size of US$105.4 Billion by 2030, growing at a CAGR of 36.1% over the analysis period 2023-2030.
Electric Vehicle Engineering Plastics, one of the segments analyzed in the report, is projected to record 38% CAGR and reach US$68.9 Billion by the end of the analysis period. Growth in the Electric Vehicle Elastomers segment is estimated at 33.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 39.2% CAGR
The Electric Vehicle Polymers market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$34.7 Billion by the year 2030 trailing a CAGR of 39.2% over the analysis period 2023 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 30.4% and 33.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 31.5% CAGR.
Key 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
- Polymer Demand Vis-a-vis EV Production
- Select Innovations and Advances
- “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
- Expanding Global Population
- Urban Sprawl
- World Urban Population in Millions: 1950-2050
- Growing Affluence of Middle Class Population
- Large Base of Millennials
- Rising Living Standards
Select Companies Profiled:
- BASF SE
- Arkema Group
- Asahi Kasei Corporation
- Celanese Corporation
- Croda International PLC
- DIC Corporation
- Daikin Industries Ltd.
- Covestro AG
- Chi Mei Corporation
- Ascend Performance Materials LLC
- Addiplast SA
- Akro-Plastic GmbH
- Distrupol Ltd.
- AlphaGary Corporation
- Aearo Technologies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 308 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $8.9 Billion |
| Forecasted Market Value (USD) by 2030 | $105.4 Billion |
| Compound Annual Growth Rate | 36.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/mofy3q
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