According to the latest research by Fact.MR, The “Global Electric Vehicle Polymers Analysis to 2028″ is a specialized and in-depth study of the chemical and material industry with a special focus on the market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by type, application, end use and geography. The global market is expected to witness high growth during the forecast period.
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Electric vehicles are designed to reduce the dependence of petroleum fuel and cut down carbon emissions. Global economies have been eying electric vehicle use as a major way to curb greenhouse gas emissions, which will drive demand growth of electric vehicle polymers in the long-term forecast. In countries like Norway, where consumers using electric vehicles enjoy benefits such as no road tax, exemption from vehicle tax, reduced parking costs, and road and ferry tolls. Also, with the electrification of high-use vehicles, including public transport, demand for the electric vehicle polymers is forecast to multiply. Most of the governments have set deadlines to go full electric between 2025 and 2030. To achieve the same, a number of Greenfield investments for electric vehicles have been observed. Volvo, the Swedish automotive maker, is setting up a manufacturing facility in China which remains to be the largest automotive manufacturer globally.
Segmentation Analysis of Electric Vehicle Polymers Market:
On the basis of end-use, the Electric Vehicle Polymers market is divided into:
On the basis of application, the Electric Vehicle Polymers market is divided into:
On the basis of its type, the Electric Vehicle Polymers market is divided into:
- Thermoplastic Elastomers
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- Polyphenylene Sulfide
Based on the region, the Electric Vehicle Polymers market is divided into:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East and Africa
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Electric Vehicle Polymers Market: Regional Outlook
Asia Pacific region is projected to dominate the overall Electric Vehicle Polymers market. China has the largest consumer of Electric Vehicle Polymers, owing to the growth in the production of electric cars in China. The country accounts for the highest demand growth of high-end engineering electric vehicle polymers with global manufacturers expanding their production capabilities with investments in the country. In terms of demand, Europe ranks second followed by North America. Government regulations and incentive schemes support the use of the electric vehicle in Europe. In Norway, sales of electric cars have overtaken traditional vehicles. With already a million electric vehicles sold in the US alone, the EVs market in the region is forecast to rise on a very positive note further complementing the demand of electric vehicle polymers in this region.
Key Players of Electric Vehicle Polymers Market
Prominent players in the global Electric Vehicle Polymers Market are Mitsubishi Engineering-Plastics Corporation, BASF SE, DowDuPont, LyondellBasell Industries, Arlanxeo, LANXESS, Covestro, AGC Chemicals, DSM Engineering Plastics, China Petrochemical Group (Sinopec Group), LG Chem, SABIC, JSR Corporation, Daikin Industries, Arkema and a . The Electric Vehicle Polymers market consists of well-diversified global with global vendors ruling the market.
The Electric Vehicle Polymers Market Report Covers Exhaustive Analysis on:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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