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Middle East and Africa Electric Vehicle Polymers Market - A CAGR of 29% is Forecast Between 2019 and 2028

Research and Markets
·4-min read

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

The Middle East and Africa electric vehicle polymers market is forecast to develop at a CAGR of 29.17% in the years 2019-2028. Turkey, Saudi Arabia, the UAE, South Africa, and Rest of the Middle East & Africa shape the market in this region.

In Turkey, several well-known international automakers are manufacturing and assembling vehicles. Moreover, steady growth has been observed in the electric vehicle adoption and their charging stations, with new electric vehicle charging infrastructure developments. Earlier, the Turkish government announced its massive investment to enhance the production of electric cars. Such favorable conditions assist in the expanding the adoption of electric vehicles, which further offers growth prospects to Turkey's electric vehicle polymers market.

In South Africa, the government has acknowledged the automotive industry as one of the significant sectors showcasing a substantial growth, contributing to the country's economy. The electric vehicle demand is also growing with several charging stations. The government's efforts to curb the harmful vehicle emissions with the Clean Fuel 2 initiative is another factor that is anticipated to amplify the sales of electric vehicles during the coming years. This is, in turn, motivating the nation's EV polymers market.

Furthermore, the United Arab Emirates has undertaken measures to promote electric vehicles to diminish its carbon footprint. The government has also set up several charging stations in the Emirates, which will influence the consumers to opt for electric vehicles. Also, there is no luxury or special consumption tax on electric vehicles, which further surges their demand in the market. Such strategic reforms to promote EVs adoption are fueling the overall growth of the electric vehicle polymers market in the UAE.

The major players in this market include Saudi Basic Industries Corporation (SABIC), China Sinopec (China Petrochemical Corporation), AGC Chemicals Americas Inc, Sumitomo Chemical Company Limited, Celanese Corporation, LyondellBasell Industries NV, Covestro AG, Evonik Industries AG, BASF SE, and Solvay SA.

Key Topics Covered:

1. Middle East and Africa Electric Vehicle Polymers Market - Summary

2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Increased 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. Middle East and Africa Electric Vehicle Polymers Market Outlook - by Polymer Type
3.1. Engineering Plastics
3.2. Elastomers
3.3. Other Polymer Types

4. Middle East and Africa Electric Vehicle Polymers Market Outlook - by Application
4.1. Powertrain
4.2. External
4.3. Internal

5. Middle East and Africa Electric Vehicle Polymers Market - Regional Outlook
5.1. United Arab Emirates
5.2. Saudi Arabia
5.3. Turkey
5.4. South Africa
5.5. Rest of Middle East & Africa

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


For more information about this report visit https://www.researchandmarkets.com/r/w29uh9

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