According to Stratistics MRC, the Global Electric Vehicle (Car) Polymers Market is accounted for $1.48 billion in 2017 and is expected to reach $123.58 billion by 2026 growing at a CAGR of 61.5%. Factors such as rising demand for electric vehicles among the emerging economies of Asia Pacific region, rapid rise in government regulations and development of charging infrastructure are fueling the market growth. However, rising demand in the price of polymers obstructs the overall development of electric vehicle (car) polymers which is hindrance for the growth of the market. Moreover, growing demand in the adoption of new components of electric cars acts as growth opportunities for the market.
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A polymer is a substance which consists of a molecular structure purely made from a large number of homogeneous units bonded together. Electric vehicle, popularly known as EV is a vehicle that makes use of one or more electrical or traction motors for its propulsion. Electric vehicle polymer refers to a polymer which is placed in interior components of an electric vehicle (car) to reduce noise, vibrations and harshness levels while in running state.
Based on type, Elastomers segment fuels the market share during the forecast period. As the demand for Elastomers is for insulation in the cars and the manufacturing of tires.. By geography, Asia Pacific region is anticipated to grow owing to the growth in production of electric cars in China, Japan, South Korea, among other countries.
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Some of the key players in Electric Vehicle (Car) Polymers market include Mitsubishi Engineering-Plastics Corporation, BASF SE, DowDuPont, LyondellBasell Industries, Arlanxeo, LANXESS, Covestro, AGC Chemicals, DSM Engineering Plastics, China Petrochemical Group (Sinopec Group), LG Chem, SABIC, JSR Corporation, Daikin Industries, and Arkema.
• Powertrain System
• Engineering Plastics
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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