Press release
Global Electric Vehicle Polymers Market Worth $191.46 Billion by 2029, Growing at 55.4% CAGR
Electric Vehicle Polymers
Electric Vehicle Polymers Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent years, the market size of electric vehicle polymers has experienced substantial growth. The market, which was valued at $20.49 billion in 2024, is projected to expand to $32.83 billion in 2025, reflecting a compound annual growth rate (CAGR) of 60.3%. This impressive growth during the historical period can be traced back to early efforts in EV development, transformation in the automotive industry, advancements in manufacturing processes, initial R&D in EV components, and concerns over battery safety.
What Is the Expected CAGR for the Electric Vehicle Polymers Market Growth Through 2029?
The polymers market specifically for electric vehicles is projected to experience a major surge in the coming years, with estimates suggesting a market valuation of $191.46 billion by 2029, growing at a compound annual growth rate of 55.4%. Factors contributing to this growth over the prediction period can be associated with changing consumer trends, urbanization, smart city movements, an increase in demand for better performance and range, a shift towards more sustainable materials along with global aims related to climate and emission standards. The market dynamics in the projected period also show trends such as enhancing the efficiency of supply chains, utilization of bio-based polymers, the application of nanotechnology in polymer creation, interior components integration, and the customisation of polymer composites.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-polymers-global-market-report
What Are the Primary Drivers Behind Electric Vehicle Polymers Market Growth?
The surge in electric vehicle needs is set to fuel the expansion of the electric vehicle polymers market. An electric vehicle operates using one or more electric motors that source power externally. Polymers, utilized in electric vehicles, help lessen weight, enhance efficiency, durability, and facilitate a flexible design. For instance, the U.S. Energy Information Administration reported in January 2024 that in 2023, 16.3% of the total new light-duty vehicle sales in the US were a combination of hybrid, plug-in hybrid electric, and battery electric vehicles. Furthermore, data from the Department Of Energy revealed in March 2022 that in 2021, electric vehicle sales accounted for 73% of all plug-in electric vehicle sales in the US. Hence, the burgeoning demand for electric vehicles is fostering the evolution of the electric vehicle polymers market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12037&type=smp
What Are the Key Segments Driving Electric Vehicle Polymers Market Growth?
The electric vehicle polymers market covered in this report is segmented -
1) By Type: Engineering Plastics, Elastomers
2) By Component: Powertrain System, Exterior, Interior
3) By End User: Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicle (FCEV)
Subsegments:
1) By Engineering Plastics: Polycarbonate (PC), Polyamide (PA), Polyethylene Terephthalate (PET), Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS)
2) By Elastomers: Thermoplastic Elastomers (TPE), Ethylene Propylene Diene Monomer (EPDM), Silicone Elastomers, Natural Rubber
What Are the Technological Trends Impacting the Electric Vehicle Polymers Market?
The emergence of product innovations is a significant trend witnessing an upsurge in the electric vehicle polymers industry. Corporations in this sector are bringing forth novel products to uphold their market standing. For instance, Solvay, a chemicals firm based in Belgium, introduced a new polymer, Xydar LCP G-330 HH, specifically for electric vehicle battery module insulation that can withstand high temperatures, in March 2023. This new liquid crystal polymer grade bolsters passenger protection in the event of a battery thermal runaway. Specially created for battery module plates of high-voltage electric vehicles, this pioneering high-heat and flame-proof grade meets the stringent thermal and insulation specifications. It is an injection-molded, glass-filled LCP that can retain its electric insulation despite exposure to 400°C for half an hour. Xydar LCP, which is inherently flame-resistant, does not require the addition of halogen or bromine additives.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=12037&type=smp
Who Are the Major Competitors in the Global Electric Vehicle Polymers Market?
Major companies operating in the electric vehicle polymers market include BASF SE, Saudi Basic Industries Corporation, LG Chemical Ltd., 3M Co, Sumitomo Chemical Co Ltd., Toray Industries Inc., Evonik Industries AG, Covestro AG, Shin-Etsu Chemical Co Ltd., Asahi Kasei Corporation, Solvay S.A., Mitsui Chemicals Inc., DuPont de Nemours Inc., Arkema SA, Celanese Corporation, Koninklijke DSM NV, Lanxess AG, Tosoh Corporation, DIC Corporation, Teijin Limited, Kumho Petrochemical Co Ltd., Ube Industries Ltd., Zeon Corporation, JSR Corporation, Kuraray Co Ltd., Sumitomo Bakelite Co Ltd., Mitsubishi Engineering-Plastics Corporation, Polyplastics Co Ltd.
Which Region Dominates the Electric Vehicle Polymers Market Share in 2025?
Asia-Pacific was the largest region in the electric vehicle polymers market in 2024. The regions covered in the electric vehicle polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
#Reach Out to Us#
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Electric Vehicle Polymers Market Worth $191.46 Billion by 2029, Growing at 55.4% CAGR here
News-ID: 4173234 • Views: …
More Releases from The Business Research Company
Global Fuel Cell Vehicle Market Worth $14.81 Billion by 2029, Growing at 46.4% C …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Fuel Cell Vehicle Market Outlook: What Size And CAGR Are Anticipated By 2025?
In the past few years, the fuel cell vehicle market has witnessed a significant expansion. The figures are projected to increase from $2.15 billion in 2024 to about $3.23 billion by 2025, with a compound annual growth…
Driver Assistance Systems For Locomotives Market to Grow at 4.6% CAGR, Reaching …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Driver Assistance Systems For Locomotives Market Outlook: How is the Market Expected to Grow by 2025?
The market size for driver assistance systems in locomotives has seen robust growth over the past few years. The market, which stands at $9.11 billion in 2024, is predicted to expand to $9.35 billion…
Yacht Industry Expected to Reach $10.79 Billion by 2029 at 3.5% CAGR
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
Yacht Market Value Projection: How Much Will the Market Size by 2025?
Over the past few years, there has been a consistent expansion in the yacht market. It is projected to escalate from $9.06 billion in 2024 to $9.41 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 3.8%.…
Global Brake Hoses Market Size, Share, and Forecast Analysis 2025-2029
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Brake Hoses Market Size Forecast for 2025?
In recent times, there has been a consistent growth in the market size of brake hoses. The market is expected to expand from a size of $18.07 billion in 2024 to a value of $18.91 billion in 2025, registering a…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
