Electric Vehicle Polymers Global Strategic Business Report 2024: Adoption of Advanced Plastics and Polymer Composites Provides Clear Advantage for EV Uptake

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:

  • 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 AttributeDetails
No. of Pages308
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$8.9 Billion
Forecasted Market Value (USD) by 2030$105.4 Billion
Compound Annual Growth Rate36.1%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/mofy3q

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Electric Vehicle Polymers Market

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