Stratview Research has published a new report titled “Electric Vehicle (Car) Polymers Market” which is segmented by Type (Engineering Plastics, Elastomers), by Component Type (Powertrain System, Exterior, and Interior), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, electric Vehicle (Car) Polymers Market is likely to witness an impressive CAGR of 65% during the forecast period. The key factors driving the market for electric vehicle (car) polymers are the growing demand for electric vehicles among the emerging economies of the Asia-Pacific region, such as China and India, rapid increase in government regulations in order to reduce CO2 emissions, and development of charging infrastructure in the developing as well as developed nations.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on the type, the market is segmented as engineering plastics and elastomers. The elastomers segment is expected to fuel the major share of the market during the forecast period as elastomers find their extensive usage in insulation in cars and also, in manufacturing of tires.
Based on the component type, the electric vehicle (car) polymers market is segmented as powertrain system, exterior, and interior. The interior segment of components is witnessing a significant transformation by replacement of metals with polymers, as components made with polymers have lower accidental risk and safety issues. Therefore, electric car manufacturers are employing polymers, instead of metals, in the interiors of electric cars, which also reduce the overall weight of electric cars. Polymer has proven to be the ideal material for the interior components of a car, as it is durable and aesthetically pleasing, also reducing the noise, vibration, and harshness (NVH) levels of an electric car. All these factors are likely to drive the growth of the segment during the forecast period.
Which Region is expected to remain the largest market?
In terms of regions, Asia-Pacific is estimated to dominate the overall market for electric vehicle (car) polymers during the forecast period. The region has emerged as the largest consumer of electric vehicle (car) polymers, owing to the surge in production of electric cars in China, Japan, South Korea, among other countries. Growing concern for reducing the level of carbon footprints, increasing government support, and reduction in the overall weight of electric cars are the major factors bolstering the growth of the market for electric vehicle (car) polymers in the Asia-Pacific region. North America and Europe are also expected to offer promising growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Electric Vehicle (Car) Polymers Market:
· BASF SE
· DowDuPont
· Covestro AG
· Celanese Corporation
· SABIC
· Solvay S.A.
· LANXESS AG
· LG Chem Ltd.
· Asahi Kasei Corporation
· Evonik Industries AG
Key questions answered by the report
- What is the projected CAGR for revenue from the Electric Vehicle (Car) Polymers Market during the forecast period?
- What would be the market be valued at by 2025?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Electric Vehicle (Car) Polymers Market?
- Which are the major market players?
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