European Electric Vehicle Polymers Market is Forecast to Grow at a CAGR of 30% During 2019 to 2028

Dublin, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The "Europe Electric Vehicle Polymers Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.

The European electric vehicle polymers market is forecast to grow at a CAGR of 30.25% during the forecast period 2019-2028. France, Germany, the United Kingdom, Russia, Italy, Spain, and Rest of Europe together model the market in this region.

In France, the demand for polymers used in electric vehicles is likely to experience growth as the country displays the highest EV adoption rates globally. Also, various automotive companies are extensively investing in expanding their production facilities. Another factor influencing the EVs' demand are the government initiatives and policies to curb the country's pollution levels. Earlier, the government provided diesel car owners with grants to encourage them to switch to plug-in electric cars. Moreover, the electric vehicles' demand is anticipated to rise as the government pledges to phase out petrol and diesel vehicles before 2040. Therefore, France's automotive industry holds the potential to widen the EV polymers market's growth in the future.

In Spain, the government incentives and policies to influence the market have increased the uptake of electric vehicles. Under the MOVES incentive program, the battery-electric, plug-in hybrid, and conventional hybrid vehicles are exempted from paying vehicle registration taxes, and also receive reduced company car taxation. This further increased the electric vehicle registration across major cities, including Spain and Madrid. Spain has a significant sector of automotive parts and accessories, which has attracted many leading companies to start producing EVs in the country. The positive outlook for the electric vehicles projects growth opportunities for the Spanish EV polymers market.

The companies driving the electric vehicle polymers market are Evonik Industries AG, Mitsubishi Chemical Corporation, Daikin Industries Ltd, Elkem ASA, DuPont, JSR Corporation, Royal DSM NV, LG Chem Ltd, Lanxess AG, Arkema SA, and Asahi Kasei Corp.


Key Topics Covered:

1. Europe Electric Vehicle Polymers Market - Summary

2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Increase in Number of Mergers and Acquisitions
2.2.2. Rise in Application of Polymers on External Body of Electric Vehicles
2.2.3. Demand for Polycarbonate and Polypropylene
2.3. Impact of Covid-19 on Electric Vehicle Polymers Market
2.4. Porter's Five Forces Analysis
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Regulatory Framework Associated With Electric Vehicles
2.8. Market Drivers
2.8.1. Demand for High-Performance Polymers in Electric Vehicles
2.8.2. Policies and Incentives to Encourage Adoption of Electric Vehicles
2.9. Market Restraints
2.9.1. Uncertainty of Raw Material Prices
2.10. Market Opportunities
2.10.1. Use of Plastic Fuel Tank in Extended-Range Electric Vehicles (E-Rev)
2.10.2. Growing Electric Vehicle Industry
2.11. Market Challenges
2.11.1. Inadequate Charging Infrastructure

3. Europe Electric Vehicle Polymers Market Outlook - by Polymer Type
3.1. Engineering Plastics
3.2. Elastomers

4. Europe Electric Vehicle Polymers Market Outlook - by Application
4.1. Powertrain
4.2. External
4.3. Internal

5. Europe Electric Vehicle Polymers Market - Regional Outlook

6. Competitive Landscape
6.1. AGC Chemicals Americas Inc
6.2. Arkema Sa
6.3. Asahi Kasei Corp
6.4. BASF Se
6.5. Celanese Corporation
6.6. China Sinopec (China Petrochemical Corporation)
6.7. Covestro AG
6.8. Daikin Industries Ltd
6.9. Dupont
6.10. Elkem Asa
6.11. Evonik Industries AG
6.12. Jsr Corporation
6.13. Lanxess AG
6.14. LG Chem Ltd
6.15. Lyondellbasell Industries Nv
6.16. Mitsubishi Chemical Corporation
6.17. Royal Dsm Nv
6.18. Saudi Basic Industries Corporation (Sabic)
6.19. Solvay Sa
6.20. Sumitomo Chemical Company Limited


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