The global electric vehicle polymers market size is expected to reach around 159 billion by 2026 growing at a CAGR of around 64.9% over forecast period 2019 to 2026.

Electric Vehicle Polymers refers to the polymers used in electric cars for the increasing the efficiency of the vehicle by reducing the weight of the vehicle. Polymers resemble the characteristics of metals such as better flame retardancy, toughness, and insulating properties. Replacement of metal with the polymer can decrease the weight of the vehicle and can provide high power to weight ratio, which can result in better performance of the vehicle. Furthermore, the use of polymers in the interior of an electric vehicle can reduce vibrations, noise and harshness levels while in running state. Electric vehicle polymers are available in various types including engineering plastic such as ABS, polyamide, polycarbonate, PPS, polyurethane, polypropylene, fluoropolymer, and thermoplastic polyester, and elastomers like synthetic rubber, natural rubber, fluoroelastomer, silicone elastomer, thermoplastic olefin, styrenic block copolymer, thermoplastic polyurethane, thermoplastic vulcanizate, thermoplastic copolyester, and polyether block amide.

The global electric vehicle polymers market is experiencing a high growth over the forecast period owing to increasing manufacturing and sales of electric cars across the globe. The increasing focus on reducing the weight of electric cars, which can eventually increase the performance of the vehicle, is driving the market growth. Favorable government regulations and investment in the development of charging infrastructure is boosting the market value.

The players in market include DowDuPont (US), BASF (Germany), Celanese (US), Covestro (Germany), SABIC (Saudi Arabia), LANXESS (Germany), Solvay (Belgium), Asahi Kasei (Japan), LG Chem (South Korea), Mitsui Chemicals (Japan), and Evonik Industries (Germany). The leading players are involved in mergers and acquisitions, partnerships and new product development for the expansion of market share over the forecast period.

–Acumen Research and Consulting