According to the research report titled ‘Global Electric Vehicle Polymers Market 2019-2028’, available with Market Study Report, global electric vehicle polymers market is projected to register a y-o-y growth rate of 30.84% during 2019-2028.
 

Increasing demand for high performing polymers in electric vehicles coupled with rising number of policies and incentives aimed at promoting electric vehicle adoption are the major factors driving global electric vehicle polymers market growth.
 

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However, volatile prices of raw materials and lack of adequate charging infrastructure are restraining the market progression, claims the study.
 

Speaking of application range, the industry is fragmented into internal, external and powertrain. Based on polymer type, tge industry is segmented into engineering plastics and elastomers.
 

The engineering plastics segment is further divided into polyethylene (PE), polymethyl methacrylate (PMMA), polyvinyl chloride (PVC), polypropylene (PP), polyurethane (PU), polycarbonate (PC), polyamide (PA), acrylonitrile butadiene styrene (ABS) and other engineering plastics. While the elastomers segment is classified into rubber, fluoro elastomer, silicone elastomer and other elastomers.
 

Considering the geographical analysis, global electric vehicle polymers industry size spans across North America, Latin America, Middle East & Africa, Europe, and Asia-Pacific. Experts analysts cite that Asia-Pacific market will likely exhibit remunerative growth over the forecast period, owing to technological innovations and increased adoption of high-performance electric vehicles in Japan, China and South Korea.
 

Furthermore, implementation of regulations for low Co2 emissions and subsidies for hybrid and electric vehicles are positively swaying the growth matrix in the region. Along with this, presence of prominent players and their focus on manufacturing plug-in hybrid versions of existing EV models is enhancing the regional market growth.
 

Leading players in worldwide electric vehicle polymers industry sphere are Sumitomo Chemical Co. Ltd., Solvay S.A., Saudi Basic Industries Corporation, Koninklijke DSM N.V., Mitsubishi Chemical 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, China Petroleum & Chemical Corporation (Sinopec), Celanese Corporation, BASF SE, Asahi Kasei Corporation, Arkema S.A. and AGC Chemicals Americas Inc.