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
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
