Bharat Book Bureau Provides the Trending Market Research Report on “Global Electric Vehicle Polymers Market 2019-2028” under Chemical & Materials Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
MARKET OUTLOOK
The Global Electric Vehicle Polymers Market :is expected to exhibit 30.84% of CAGR during the forecast period 2019-2028.
The demand for high-performing polymers in electric vehicles, along with policies and incentives to encourage electric vehicle adoption, is the key element driving the growth of the market. Whereas, the use of plastic fuel tanks in extended-range electric vehicles is offering numerous opportunities for the market growth during the estimated period. However, the fluctuations in the raw material prices are hampering the growth of the global market. The lack of adequate charging infrastructure is another factor that is challenging the future of this market.
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REGIONAL OUTLOOK
The global electric vehicle polymers market comprises the Asia-Pacific, Latin America, North America, Europe, and the Middle East and Africa regions.
The Asia-Pacific is estimated to emerge as the fastest-growing market worldwide during the forecast years. It also holds the largest market share globally. The region's market is motivated mainly by innovation and the adoption of high-performance electric vehicles in China, Japan, and South Korea. Implementing regulations for low CO2 emissions and subsidies for hybrid and electric vehicles has helped the region attain a significant share of the overall market.
Furthermore, several leading manufacturers have launched plug-in hybrid versions of the existing internal combustion engine vehicle models, which observed a higher sales level, out of the total plug-in vehicles. This growth in the sales of hybrid vehicles will enhance the demand for polymers used in internal and external components, simultaneously motivating the electric vehicle polymers market in APAC.
COMPETITIVE OUTLOOK
The leading companies in the market are Sumitomo Chemical Company Limited, Asahi Kasei Corp, China Sinopec (China Petrochemical Corporation), BASF SE, Elkem ASA, Lanxess AG, Saudi Basic Industries Corporation (SABIC), Celanese Corporation, Solvay SA, LG Chem Ltd, Mitsubishi Chemical Corporation, DuPont, AGC Chemicals Americas Inc, LyondellBasell Industries NV, Evonik Industries AG, Arkema SA, Royal DSM NV, Covestro AG, Daikin Industries Ltd, and JSR Corporation.
Arkema SA is involved in the manufacturing and supplying of chemical products. It provides its clientele with biobased materials, coatings, and healthcare & sports equipment solutions. The company offers its services in various industries, including automotive, consumer goods, construction, etc. Piezotech, one of the company’s products, produces a wide range of fluorinated electroactive polymers and inks. The firm's operations are spread globally in the Asia-Pacific, Europe, Latin America, North America, and the Middle East and Africa regions. Arkema SA has its headquarters in Colombes, France.
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