The global market for polymers used in electric vehicles is projected to grow from $10.4 billion in 2024 to $23.8 billion by 2029, at a CAGR of 18.1%. This report analyzes polymer types, applications, vehicle segments, and regions, highlighting the role of polymers in EV manufacturing and their impact on vehicle efficiency, safety, and range.

Key drivers of market growth include the rapid increase in EV sales, demand for lightweight materials for improved efficiency, cost-effective solutions to boost energy efficiency, and a focus on circularity and bioplastics to reduce environmental impact. EV manufacturers are increasingly using recycled plastics and bio-based materials to enhance sustainability.

Leading market players include companies like BASF, Covestro, LG Chem, and Sumitomo Chemical. Emerging startups are exploring eco-friendly materials such as PHAs, biobased polyethylene, and composites for EV applications. The report covers market segments, growth trends, and forecasts, with a focus on the dominance of BEVs in the market and the growing demand in the Asia-Pacific region.

Related reports on electric vehicles and fuel cell vehicles provide insights into global market dynamics, technology trends, and regulatory developments. The global electric vehicle insulation market report explores product types, propulsion types, and applications, offering forecasts and profiles of leading manufacturers. For more information or to purchase a copy of the report, contact BCC Research at [email protected].

Read more at GlobeNewswire: Market to Surge at 18.1% CAGR