Electric Vehicle Polymers Market
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The electric vehicle (car) polymers market size is projected to grow at a CAGR 58.12% rate during the forecast period. Electric vehicle polymers are used to reduce the vehicle weight without affecting the efficiency of the car. Polymers are the only alternatives to metals as they possess similar properties to those of metals, such as flame retardancy, abrasion resistance, stiffness, toughness, electrical insulation, and heat resistance. Replacing metals with the polymers is a key solution for the electric car manufacturers to reduce the overall vehicle weight.
Polymer has proven to be the ideal material for the interior components and is majorly preferred by manufacturers in place of metals as they have lower accidental risk and safety issues. Also, polymers are durable and aesthetically pleasing. In addition, it reduces noise, vibration, and harshness (NVH) levels of an electric car. Both the types of polymers, engineering plastics and elastomers, are preferred for this segment of components.
Elastomers are materials that are produced by joining polymers through chemical bonds to achieve a crosslinking structure. Elasticity and high elongation against cracking and breaking properties has led to increased use of them in the form of rubber in an electric car for manufacturing of tires and as sealants. Elastomers is particularly demanded for the property of insulation in the cars and the manufacturing of tires.
APAC is estimated to be the largest market in electric vehicle polymers market during the forecast period. Increased production of electric cars in China, Japan, South Korea, among other countries has led to increased consumption of polymers in electric vehicle (car) applications. Increasing concern for reducing the level of carbon footprints, government support, weight reduction are the major factors facilitating the growth of market in this region.
The BASF (Germany), DowDuPont (US), Covestro (Germany), Celanese (US), SABIC (Saudi Arabia), Solvay (Belgium), LANXESS (Germany), LG Chem (South Korea), Asahi Kasei (Japan), and Evonik Industries (Germany) are some of the players operating in the market.
Key Questions Addressed by the Report
- What are the global trends in demand for electric vehicle (car) polymers? Will the market witnessed an increase or decline in demand in the near future?
- What is the percentage share of electric vehicle (car) polymers present in the overall weight of an electric car?
- What were the revenue pockets for the electric vehicle (car) polymers in 2018?
- What are the different regulations developed for electric cars, globally?
- Who are the key players in the electric vehicle polymers market, globally?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Electric Vehicle Polymers Market, By Component
6. Electric Vehicle Polymers Market, By Type
7. Electric Vehicle Polymers Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
8. Company Profiles
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