Engineered Polymers in Electric Charging Infrastructure Market – Increasing Concerns Regarding CO2 Emissions and Safeguard the Environment are expected to Lead to Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 36.4% from 2022 to 2028

Engineered Polymers in Electric Charging Infrastructure
  • Engineered Polymers in Electric Charging Infrastructure Market

As stated in our extensive report; the Global Engineered Polymers in Electric Charging Infrastructure Market accounted for USD 145.2 Million in the year 2021. With the rising need for electric charging infrastructure for vehicles such as cars, trucks, and passenger vehicles, the Engineered Polymers in Electric Charging Infrastructure Market is predicted to rise faster in the forecasted time. To minimize CO2 emissions and safeguard the environment, consumers are shifting their preferences from traditional ICE-based vehicles to electric vehicles, which is predicted to increase the number of charging facilities and influence the market. Engineered polymers are used to make setting infrastructure components such as wall boxes, inductive charging systems, charging plugs, and sockets.

Polybutylene terephthalate (PBT) and Polyamide (PA) manufacture setting infrastructure components. The increased production of high-performance electric automobiles that use wireless charging methods for high-voltage batteries is predicted to support the growing need for customized polymers. Inductive and wireless charging systems have been established due to technological breakthroughs in charging processes and battery compatibility. In addition, the infrastructure incorporates a fast-charging mechanism for rapidly setting battery cells. This necessitates weathering, flame retardancy, and creep resistance in appropriate materials. Because of accelerated technical transformations such as the introduction of non-petroleum-based fuel or hybrid vehicles, autonomous driving, and new mobility services, the global automobile sector is increasing.

In addition, the growing environmental concerns, government attempts to promote green mobility, and electric car manufacturers' aggressive corporate expansion plans in regions are all critical contributors to the Engineered Polymers in Electric Charging Infrastructure Market growth. Furthermore, innovative polymer-based battery pack protective separators used in EVs can dramatically increase battery power, assure temperature stability, and extend EV range on a single charge. In addition, these battery pack protection systems can shield vehicle batteries from accidental damage. These are some of the other essential aspects that are predicted to drive the Engineered Polymers in Electric Charging Infrastructure Market growth in the future. Variations in polymer raw material costs, on the other hand, could stifle market revenue growth significantly throughout the projection period.

North Americaholds the largest share in theEngineered Polymers in Electric Charging Infrastructure Market and is expected to continue this trend in the forecast period. The presence of multinational manufacturers in China, India, Japan, and South Korea is expected to increase significantly during the forecast period. In addition, rising sales & demand in the emerging economies of India, China, and Brazil, growing environmental concerns, government efforts to encourage green transportation, and the aggressive corporate development plans of electric car manufacturers in various countries are all significant factors driving the growth of the Engineered Polymers in Electric Charging Infrastructure Market in this region.

Some of the key players in the Global Engineered Polymers in Electric Charging Infrastructure Market include- AGC Chemicals Americas Inc., ASAHI KASEI CORPORATION, BASF SE, Dow Chemical Company, COVESTRO AG, Daikin Industries Ltd., Evonik Industries AG, Royal DSM NV, Mitsubishi Chemical Corporation, Sumitomo Chemical Company Limited and others.