Electric Vehicle Insulation Market on Growth Trajectory Through 2032: Global Forecast by Type, Product, and Application

Electric vehicle insulation is used to minimalize the effect of heat, sound, and shaking on vehicle as well as the passenger. When the vehicle overheats, it affects the performance of the vehicle and further leads to evaporation of motorized liquids. Furthermore, the shaking of the vehicle damages the its frame and heavy gears. Vehicle insulation confines these damages and helps improve vehicle lifespan, its performance, and also have an effect on the maintenance charges. Therefore, increase in adoption of the electric vehicles with these benefits is expected to boost the product demand.

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Key Market Players

◾️ Morgan Advanced Materials,
◾️ Saint-Gobain,
◾️ Alder Pelzer Holding,
◾️ Unifrax,
◾️ 3M,
◾️ Unifrax,
◾️ Elmelin Ltd,
◾️ DuPont,
◾️ Autoneum,
◾️ BASF SE,
◾️ Zotefoams plc

Top impacting factors:

Growing concerns over pollution, emerging government regulations & subsidies for electric vehicles, and substantial investments from automakers in electric vehicles drive the growth of the market. However, absence of standardization of charging structure is expected to hamper the growth of the market. On the contrary, scope for further evolution of insulation materials for electric vehicles and scope of growth of autonomous electric vehicles are anticipated to provide lucrative opportunity for the market growth.

The global electric vehicle insulation market trends are as follows:

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Growing concerns over pollution

People have shifted toward renewable resources rather than depending on fossil fuel due to growing concerns of pollution and climate change. In addition, governments across various countries are tightening emission norms. For example, in India, tougher emission norms have been set in 2020 making diesel and petrol engines pricier and less-polluting, which led to increase in adoption of electric vehicles (EVs). EVs emit no greenhouse gases and no air pollutants when compared to a petrol or diesel car even with revised and expensive engines. EVs can also help in reduction of noise pollution. Therefore, with increase in pollution levels, the global electric vehicle sales are expected to increase; thereby, boosting the growth of the electric vehicle insulator market.

Insulation Type

Acoustic
Thermal
Electrical

Application

Battery Pack
Under the Bonnet
Interiors
Others

Propulsion Type

Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PEHV)
Fuel Cell Electric Vehicle (FCEV)
Hybrid Electric Vehicle (EEV)

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Region

North America

U.S.
Canada
Mexico

Europe

Germany
France
UK
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA

Brazil
Turkey
Saudi Arabia
South Africa
Rest of LAMEA

COVID-19 scenario analysis:

Multiple automotive industries from Europe and the U.S. are facing adverse effects due to the lockdown declared by the governments, which resulted into closure of the manufacturing plant operations; thereby, disrupting the production of insulators.

As the governments all over the world have authorized various lockdown measures over the past few months, it disrupted both the demand and supply cycles due to which major automotive manufacturers have been affected.

Europe and the U.S. being the major manufacturing hub of the insulator industry in the world are significantly affected by the pandemic, which resulted in a complete halt of all the automotive markets.

The manufacturing Gross Value Added (GVA) is expected to fall by 5-17% in FY21.

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