Already a member? Login to access this report free.
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 |
|
||||||||||||||||
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.
Related Reports
Electric Vehicles and Fuel Cell Vehicles: Global Markets
The global market for electric vehicles and fuel cell vehicles was valued at $655.9 billion in 2023. The market is expected to grow from $758.0 billion in 2024 to $1.8 trillion by 2029, at a compound annual growth rate (CAGR) of 18.6% from 2024 to 2029.
Global Electric Vehicle Insulation Market
The global market for electric vehicle insulation is expected to increase from $3.1 billion in 2023 to $9.1 billion by the end of 2028, with a compound annual growth rate (CAGR) of 24.4% during the forecast period of 2023-2028.
Engineering Resins, Polymer Alloys and Blends: Global Markets
The global market for engineering resins, polymer alloys and blends should grow from $70.7 billion in 2021 to $94.0 billion by 2026 with a compound annual growth rate (CAGR) of 5.9% for the period of 2021-2026.
Track the Latest Global Tariff Developments
In today's fast-paced global economy, tariffs are no longer static—they are dynamic levers shaped by geopolitical realignments, supply chain vulnerabilities, inflationary pressures, and sustainability-driven trade reforms. As governments worldwide recalibrate their trade strategies, businesses are left to navigate a maze of shifting rules, rising costs, and regulatory uncertainty.
Our analysis empowers you with real-time updates and in-depth expert analysis on all facets of global tariff activity. From new trade agreements and sanctions to abrupt tariff hikes and retaliatory duties, we monitor developments across borders, sectors, and industries—so you don't have to.
Whether it's the ongoing U.S.–China trade dynamics, the evolving EU Carbon Border Adjustment Mechanism (CBAM), or the emerging policies in India, ASEAN, and Latin America, we provide full-spectrum coverage. We also track multilateral trade negotiations, World Trade Organization (WTO) rulings, and sector-specific duty structures—ensuring you are always ahead of global trade shifts.
With our analysis, you can stay informed, identify risks, and confidently respond to tariff changes—no matter where you operate.
Ready to see what tariff means for your business?
Consult with our experts or request your custom Tariff Impact Brife today
Stay Informed, Stay Competitive
In today's interconnected and unpredictable global economy, staying ahead of tariff shifts is not just important—it's essential. BCC Research provides decision-makers with trusted, research-driven insights that turn uncertainty into opportunity.
Our in-depth market analysis and trade intelligence help you decode how tariff changes impact your specific sector—manufacturing, healthcare, technology, agriculture, or energy. We break down complex data into actionable knowledge through comprehensive reports, expert commentaries, and sector-focused forecasts.
Our analysis includes:
- Thorough breakdowns of current and proposed tariff policies and how they affect regional and global trade flows.
- Sector-specific implications, helping you understand the strategic impact on sourcing, pricing, and competitiveness.
- Forward-looking insights to support risk management, planning, and response strategies for evolving trade conditions.
With BCC Research, you gain more than just information—you gain clarity and confidence to make well-informed decisions in a volatile trade environment.
Don't let tariffs catch you off guard—let our insights guide your strategy.
Recent Reports
Global High Purity Quartz Market
The global market for high-purity quartz is expected to grow from $1.1 billion in 2025 and is projected to reach $1.4 billion by the end of 2030, at a compound annual growth rate (CAGR) of 4.5% during the forecast period of 2025 to 2030.
Global Engineered Wood Adhesives Market
The global engineered wood adhesives market is expected to grow from $5.3 billion in 2025 and is projected to reach $6.5 billion by the end of 2030, at a compound annual growth rate (CAGR) of 4.1% during the forecast period of 2025 to 2030.
Acrylic Coatings: Technologies, End Users and Global Markets
The global acrylic coatings market is expected to grow from $68.6 billion in 2024 and is projected to reach $87.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 5.1% during the forecast period of 2024 to 2029.
2024 Chemical Research Review
The chemicals industry is a multi-billion-dollar industry whose outlook is supposed to rise in the coming years. This report provides a sampling of the types of quantitative market information, analysis and guidance that has been aiding business decision making since the inception of BCC Research in 1971.
Global Market for Polymers Used in Electric Vehicles
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.
Top Trending Reports
Global Pharmaceutical Drugs Industry: Competitive Landscape 2023
This report discusses the global pharmaceutical drugs industry and its competitive landscape in terms of significant player market ranking and top pharmaceutical drugs. Company profiles of the top 50 pharmaceutical companies, innovative products and technologies, trends and market dynamics, competitive intelligence, and regional trends are well-researched and analyzed in this report.
Biologic Therapeutic Drugs: Technologies and Global Markets
The global market for biologic therapeutic drugs is estimated to increase from $499.2 billion in 2024 to reach $794.5 billion by 2029, at a compound annual growth rate (CAGR) of 9.7% from 2024 through 2029.
Next-Generation Advanced Batteries: Global Markets
The global market for next-generation advanced batteries is estimated to grow from $1.5 billion in 2024 to reach $5.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 28.5% from 2024 through 2029.
Global Markets and Manufacturing Technologies for Protein Drugs
The global protein drugs market is expected to grow from $441.7 billion in 2024 and is projected to reach $655.7 billion by the end of 2029, at a compound annual growth rate (CAGR) of 8.2% during the forecast period of 2024 to 2029.
Global Markets for Emerging Medical Device Technologies
The global market for emerging medical devices is estimated to increase from $136.6 billion in 2024 to reach $223.9 billion by 2029, at a compound annual growth rate (CAGR) of 10.4% from 2024 through 2029.
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
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More