Advanced Materials in Electrical Vehicle Charging Infrastructure Market - Rising Demand for Electric Vehicles is expected to Lead Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 36.9% from 2022 to 2028

Advanced Materials in Electrical Vehicle Charging Infrastructure
  • Advanced Materials in Electrical Vehicle Charging Infrastructure Market

As stated in our extensive report; the Global Advanced Materials in Electrical Vehicle Charging Infrastructure Market accounted for USD 328.5 Million in the year 2021.

Automakers have been pushed to create plug-in hybrid & electric vehicles by government rules and consumer demand to reduce pollution. Transparency and opacity in a wide range of colors are required in resins for electric charging stations, hardness purpose to avoid tampering & resist pressure, and for fire resistance & flame retardancy to maintain safety. They also require to be weather-resistant, being sited primarily outdoors.

Automobile makers are working on EV batteries that charge faster while supplying more power to increase driving range. They are constructing fast DC charging networks along roads and outside of city centers with the help of operators. Polycarbonate resins have high dimensional stability, good impact resistance, UL94 flame retardancy, and electrical insulating qualities that can be adjusted to satisfy product safety standards. In addition, polycarbonate resins are a useful material for outdoor charging systems because of their high resistance to weathering, corrosion, and rust. They can survive storage temperatures ranging from -30°C to 80°C. For instance, PC housings have lower water absorption and post-tooling shrinkage (4-6/1000) than semi-crystalline materials. Moisture resistance (UL746C, f1 listing, IP degree) is paired with excellent impact strength and UV resistance, even at low temperatures. Additionally, UL94 flame protection is provided by polycarbonate casings, front covers, and decorative components (V0 or 5VA). Polycarbonates provide cost-effective and scalable expansion opportunities for EV charging station owners. Thus, these are some of the factors anticipated to drive the market by providing several opportunities.

Europe has accounted for potential growth of the Advanced Materials in Electrical Vehicle Charging Infrastructure market in 2021. High adoption of EVs and associated infrastructure to meet climate change commitments, reduce air pollution, and increase energy security are providing multiple growth opportunities for the Advanced Materials in Electrical Vehicle Charging Infrastructure industry. Increasing economic development in less developed automotive manufacturing capabilities, the high presence of industry players in more established automotive manufacturing hubs, and ongoing investments by various countries for robust charging infrastructure are the factors attributed to this region's high growth.

Some of the key players in the Global Advanced Materials in Electrical Vehicle Charging Infrastructure Market include- Ryerson Holding Corporation (U.S.), DOMO Chemicals GmbH (Germany), DuPont de Nemours Inc. (U.S.), SABIC (Saudi Arabia), BASF SE (Germany), Thyssenkrupp AG (Germany), Covestro AG (Germany), Evonik Industries AG (Germany), POSCO (South Korea), Trinseo S.A. (U.S.), Celanese Corporation (U.S.), Lanxess AG (Germany) and others.