Report Highlights
The global market for polymers used in electric vehicles reached $9.1 billion in 2023. It is expected to grow from $10.4 billion in 2024 to $23.8 billion by 2029, at a compound annual growth rate (CAGR) of 18.1% from 2024 to 2029.
Report Includes
- 115 data tables and 49 additional tables
- An analysis of the global market for polymers used in electric vehicles (EVs)
- Analyses of the global market trends, with sales data for 2023, estimates for 2024, forecasts for 2028, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation of the market size for polymer-based EVs and their corresponding market share analysis by type, application, vehicle type and region
- Discussion of the market potential for polymers used in EVs, and forecasts for the market’s segments and sub-segments
- Facts and figures concerning market drivers, opportunities, challenges and other demographic and economic factors that will drive market demand
- Analysis of the key technology issues, industry value chain, Porter’s Five Forces, competitive landscape, and R&D activity
- Description of polymer properties and discussion of their ability to control carbon footprints
- A discussion of the industry’s ESG challenges and practices
- Market share analysis of the key companies and coverage of their proprietary technologies, strategic alliances, and other market strategies
- Profiles of the leading companies, including BASF, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Arkema and Laxness
Report Scope
This report provides a qualitative as well as quantitative assessment of the global market for polymers in electric vehicles (EVs). The study considers 2023 as the base year; forecasts are provided for revenue from 2024 to 2029 (USD million). The report provides a thorough analysis of the market based on type, application, vehicle and region. Each region is further sub-segmented into key countries.
Specifically, the market is segmented in the following ways:
- Type:
- Engineering plastic:
- Polypropylene (PP).
- Polyurethane (PU).
- Polyvinyl Chloride (PVC).
- Polyamide (PA).
- Polyethylene (PE).
- Acrylonitrile Butadiene Styrene (ABS).
- Others.
- Elastomers:
- Silicone.
- Rubber.
- Others.
- Engineering plastic:
- Application:
- Interior.
- Exterior.
- Powertrain.
- Vehicle Type:
- BEVs (battery EVs).
- PHEVs (plug-in hybrid EVs).
- HEVs (hybrid EVs).
- Region:
- Asia-Pacific.
- Europe.
- North America.
- Rest of the World (RoW).
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||
| Base year market size | $9.1 Billion | ||||||||||||||||
| Market size forecast | $23.8 Billion | ||||||||||||||||
| Growth rate | CAGR of 18.1% from 2024 to 2029 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | By Polymer Type, Application, Vehicle Type, and Region | ||||||||||||||||
| Regions covered | Asia-Pacific, Europe, North America, and Rest of the World (RoW) | ||||||||||||||||
| Countries covered | China, Japan, South Korea, France, Germany, Spain, Mexico, Canada, and the U.S. | ||||||||||||||||
| Key Market Drivers |
|
||||||||||||||||
| Companies studied |
|
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Frequently Asked Questions (FAQs)
- Unprecedented growth in electric vehicle sales.
- Proliferating need for advanced polymers supporting lightweighting & electrification trends.
- Sustainability and cost-effectiveness offered by plastics to electric vehicles (EVs).
Analyst Credentials
Yukti Chaturvedi– Associate Consultant-Advanced Materials Research
Yukti Chaturvedi has over five years of experience in market research. She has a strong knowledge of plastics, chemicals, consumer goods, and advanced materials research. She has handled end-to-end business by providing strategic recommendations and understanding clients’ requirements thoroughly in the market research industry. She demonstrated excellence in working effectively in critical areas − competitor intelligence, product intelligence, market understanding, industry trend analysis, and customer insights. Academically, she is an MBA graduate in International Business.
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Report Highlights
The global market for polymers used in electric vehicles is estimated to increase from $5.0 billion in 2021 to $12.8 billion by 2026, at a compound annual growth rate (CAGR) of 20.8% during the forecast period of 2021-2026.
Report Includes
- 151 data tables and 69 additional tables
- An up-to-date review and analysis of the global market for polymers used in electric vehicles (EVs)
- Analyses of the global market trends, with data from 2020 and 2021, and projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the overall market size for polymer based EVs in value and volumetric terms, and their corresponding market share analysis by product segment, application, and region
- Highlights of the market potential for polymers used in electric vehicles, and areas of focus to forecast this market into various segments and sub-segments
- In-depth information (facts and figures) concerning market drivers, opportunities, challenges and other demographic and economic factors that will drive future demand for this market
- Review of the current market status, key technology issues, industry value chain, Porter’s five forces analysis, competitive scenario, R&D activities, and COVID-19 implications on the progress of this market
- Description of polymer properties and discussion on their ability to control carbon footprints
- Insight into the key merger and acquisition deals, joint ventures and innovation strategies by leading players in the global electric vehicles and polymers industry
- Descriptive company profiles of the major global players, including Arkema, Asahi Kasei Corp., BASF SE, Covestro AG, DSM, Evonik Industries, LG Chem, LyondellBasell Industries, and Solvay S.A.
Report Highlights
The global market for polymers used in electric vehicles should grow from $3.3 billion in 2018 to $14.9 billion by 2023 with a compound annual growth rate (CAGR) of 35.4% for the period of 2018-2023.
Report Includes
- 99 data tables and 48 additional tables
- An overview of global market for polymers used in electric vehicles
- Analyses of the global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Insights into the govt. regulatory framework, investment analysis, growth indicators and key decision supporting factors
- Description of polymer properties and discussion on their ability to control carbon footprints
- Comparative study of engineering plastics and elastomers, and description of their potential applications
- A look at the mergers and acquisitions, joint ventures, innovations and key market strategies adopted by major players
- Profile description of the leading market players, including BASF, DSM Engineering Plastics, Evonik, Solvay SA, LyondellBasell Industries and SABIC
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