Electric Vehicle Polymers Market Analysis

Type (Engineering Plastics, Elastomers)

The global electric vehicle polymers market is segmented and analyzed for demand and supply by type into engineering plastics, elastomers, and others. Out of the three types, the engineering plastics segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing automotive and transportation industry across the globe. Owing to their superior mechanical strength, high temperature, and abrasion engineering plastics are quickly replacing metals in the automobile sector. In addition to lowering weight, they improve fuel economy in automobiles. Further, engineering plastics are in greater demand owing to the fact that they are employed in a variety of transportation-related items, including mechanical components, engines, and fuel systems. As of 2021, worldwide motor vehicle manufacturing climbed by over 2%.

Application (Exterior, Interior)

The global electric vehicle polymers market is also segmented and analyzed for demand and supply by application into exterior, interior, and others. Amongst these three segments, the interior segment is expected to garner a significant share. Electric vehicles have started a new trend in automotive interiors since they aren't constrained by a heavy internal combustion engine or fuel tank. The creation of a wide array of electric vehicles with cutting-edge features and improvements is also projected to increase demand for polymers. For instance, modern electric car interiors are made of polymers rather than metal, which helps lighten the total weight of these cars. Owing to the polymer's durability, visual appeal, and ability to muffle noise, vibration, and harshness, it has become the ideal material for car interior elements. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global market includes the following segments: