Press release
The Essential Raw Materials Fueling the EV Charging Revolution
EV Charging Station Raw Materials Market
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The escalating levels of carbon emissions and pollutants emanating from traditional transportation systems have underscored the imperative need for Electric Vehicles (EVs). Consequently, there has been a surge in demand for EV charging infrastructure across commercial and residential applications. Simultaneously, the demand for essential raw materials, such as high-strength metals & alloys and polymers, has witnessed a parallel upswing to facilitate the production of EV charging stations. These raw materials undergo specialized processing to impart strength and resilience to the infrastructure, meeting both aesthetic and operational requirements.
Key drivers fueling the growth of the EV charging station raw materials market include supportive government policies, a widespread adoption of EVs, and private sector initiatives driving the deployment of EV charging infrastructure. However, a significantly vulnerable supply chain for raw materials stands as a substantial challenge to market growth.
Impact of COVID-19 on the EV Charging Station Raw Materials Market
The global COVID-19 pandemic has triggered a widespread economic downturn, leading to stringent lockdowns and disruptions in supply chains. Despite these challenges, several governments worldwide have invested in EV charging infrastructure as part of their economic stimulus programs. This includes direct investments in public charging stations and subsidies for the installation of private charging stations at homes and workplaces. The incorporation of EV infrastructure investment into COVID-19-related stimulus packages by European and Asian governments is anticipated to bolster the growth of EV charging stations, directly impacting the EV charging station raw material market. Notably, stainless steel, aluminum, copper, and polycarbonate resins are expected to witness increased demand due to infrastructure developments.
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A notable example is Germany's response to the crisis, where a proposed EUR 130 billion (USD 145.8 billion) stimulus package included a significant allocation of at least EUR 50 billion (USD 56 billion) for climate-related spending. Within this program, an additional EUR 2.5 billion (USD 2.8 billion) was earmarked for EV infrastructure, specifically EV charging stations. This strategic move is poised to elevate demand for stainless steel, aluminum, copper, and polycarbonate resins in Germany throughout the forecast period.
The EV charging station raw materials market is intricately segmented based on material type, application, charging type, and geography. The report not only evaluates industry competitors but also provides a meticulous analysis at the country level.
Key Insights:
Material Type: In 2021, the metals and alloys segment is anticipated to capture the largest market share, driven by their inherent physical and aesthetic properties aligning with design and operational standards for electric vehicles and charging stations at optimal costs.
Application: The cords segment is projected to dominate the EV charging station raw materials market in 2021, owing to the frequent replacement of cords due to low operational life, the global surge in EV adoption, escalating demand for high-power charging (HPC) cables, and technological advancements like liquid-cooling in EV charging cables.
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Charging Type: The level 2 charging segment is expected to secure the largest market share in 2021, attributed to government funding and incentives for Level 2 charging stations, lower installation costs compared to DC fast-charging stations, and greater efficiency in terms of reduced charging time compared to Level 1 charging stations.
Geography: The Asia-Pacific region is projected to lead the EV charging station raw materials market in 2021, driven by a surge in EV demand in countries like China and Japan, government initiatives in emerging economies to reduce greenhouse gas emissions, and proactive efforts by countries such as Indonesia and Thailand to expand their presence in EV and charging station production.
Noteworthy Players:
The key players at the forefront of the global EV charging station raw materials market include Ryerson Holding Corporation (U.S.), DOMO Chemicals GmbH (Germany), DuPont de Nemours, Inc. (U.S.), SABIC (Saudi Arabia), BASF SE (Germany), Thyssenkrupp AG (Germany), Covestro AG (Germany), Evonik Industries AG (Germany), POSCO (South Korea), Trinseo S.A. (U.S.), Celanese Corporation (U.S.), and Lanxess AG (Germany), among others.
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Scope of the Report:
EV Charging Station Raw Materials Market, by Material Type:
Metals and Alloys
Copper
Stainless Steel
Carbon Steel
Aluminum
Nickel
Chrome
Titanium
Other Metals and Alloys
Polymers
Thermoplastic Polyurethanes
Polycarbonate Blends
Polyurethanes
Elastomers
Polycarbonate Resins
EV Charging Station Raw Materials Market, by Application:
Cords
Internal Wiring
Enclosures
Connector Guns
Thermal Switches
Displays
Flexible Conduits
Electric Circuit Breakers
Energy Meter and Timers
Cable Hangers
Charger Plug Holsters
Nylon Glands/Lock nuts
Other Applications
EV Charging Station Raw Materials Market, by Charging Type:
Level 1
Level 2
DC Fast Charging
EV Charging Station Raw Materials Market, by Geography:
Asia-Pacific (APAC)
China
Japan
South Korea
Singapore
India
Rest of Asia-Pacific (RoAPAC)
Europe
Germany
U.K.
France
Italy
Spain
Morocco
Rest of Europe (RoE)
North America
U.S.
Canada
Mexico
Latin America
Middle East & Africa
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