According to the business intelligence report titled ‘GLOBAL Electric Vehicle Polymers Market 2019-2028’, available with Market Study Report, global electric vehicle polymers market is estimated to exhibit a robust compound annual growth rate of 30.84% during the analysis period 2019-2028.
 

As per the findings of the report, escalating demand for high-performing polymers in electric vehicles coupled with imposition of favorable policies, incentives, and regulatory standards promoting the adoption of electric cars are accelerating global electric vehicle polymers market expansion.
 

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Innovative product launches, rising disposable incomes, ongoing technological advancements, growing environmental concerns, and strategic alliances such as acquisitions and mergers among market majors are adding substantial traction to the industry growth.
 

Additionally, rising usage of plastic fuel tanks in extended-range electric cars is impelling product demand, which in turn is positively swaying global electric vehicle polymers market dynamics.
 

Despite the positive outlook of the industry vertical, lack of adequate charging infrastructure and constantly fluctuating raw material prices will continue to hamper business development throughout the stipulated period.
 

Speaking of regional outlook, Europe, North America, Middle East & Africa, Latin America, and Asia-Pacific are key contributors of the global electric vehicle polymers market value.
 

Among these, Asia-Pacific industry captures a substantial portion of the total market share and is set to grow tremendously over 2019-2028. Imposition of numerous carbon emission norms, favorable incentives and subsidies encouraging the adoption of hybrid vehicles, and surging demand for high-performance electric cars, predominantly in South Korea, Japan, and China are contributing to the regional industry remuneration.
 

Elaborating on competitive hierarchy, Asahi Kasei Corp, Sumitomo Chemical Co Ltd, China Petroleum & Chemical Corp (Sinopec), Elkem ASA, BASF SE, Lanxess AG, Celanese Corp, Saudi Basic Industries Corp (SABIC), Solvay SA, Daikin Industries Ltd, Mitsubishi Chemical Corp, LG Chem Ltd, DuPont de Nemours, Inc, LyondellBasell Industries NV, AGC Chemicals Americas Inc, Evonik Industries AG, Royal DSM NV, Arkema SA, Covestro AG, and JSR Corp are the top-tier companies influencing global electric vehicle polymers industry trends.