According to the research report titled, ‘Global Electric Vehicle Polymers Market 2019-2028’, available with MarketStudyReport, global electric vehicle polymers market is anticipated to register a CAGR of 30.84% during 2019-2028.
 

Escalading demand for high-performing polymers coupled with introduction of various policies and initiatives to encourage the adoption of electric vehicles are propelling the growth of global electric vehicle polymers market.
 

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Increasing usage of plastic fuel tanks in extended range EVs is augmenting industry outlook. However, inconsistency in the prices of raw materials and dearth of adequate infrastructure are likely to hamper the market remuneration scope in the ensuing years.
 

By polymer type, the marketplace is bifurcated into engineering plastics (acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), polyurethane (PE), polypropylene (PP), polyvinyl chloride (PVC), polymethyl methacrylate (PMMA), polyethylene (PE, and others), elastomers (rubber, silicone elastomer, fluoro elastomer, and others), and others.
 

Based on application, the industry is classified into powertrain, external, and internal. The aforementioned segments are thoroughly assessed in the report in order to determine the size and scope of global electric vehicle polymers market.
 

Regionally speaking, Europe, Asia Pacific, Latin America, North America, and Middle East & Africa are considered to understand the dynamics of this business sphere. Among these, Asia Pacific presently holds a significant market share and is poised to amass notable gains during 2019-2028 owing to rapid innovations and widespread adoption of high performance EVs in South Korea, Japan and China and stringent regulations to minimize CO2 emissions.
 

Furthermore, favorable subsidies for hybrid and electric vehicles along with the surging sales of hybrid vehicles are also adding to the progression of the regional market.
 

Key players defining the competitive hierarchy of global electric vehicle polymers market are Sumitomo Chemical Co. Ltd., Solvay S.A., Saudi Basic Industries Corporation, Koninklijke DSM N.V., Mitsubishi Chemical Holdings Corporation, LyondellBasell Industries N.V., LG Chem Ltd., Lanxess AG, JSR Corporation, Evonik Industries AG, Elkem ASA, DuPont de Nemours Inc., Daikin Industries Ltd., Covestro AG, Sinopec Group, and Celanese Corporation.