Dublin, April 11, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key manufacturers of polyamide in the E-mobility positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global polyamide in the E-mobility market is expected to witness a CAGR of 7.8% and reach a valuation of US $ 2.55 Bn by 2033.
- Polyamide is a lightweight material that helps reduce the weight of vehicles, which is crucial for improving the range and efficiency of electric vehicles (EVs). As battery technology improves, the weight of the vehicle becomes more critical as it directly affects the range of the EV.
- Polyamide is a strong and durable material that can withstand high mechanical stresses, vibrations, and impact loads. This makes it an ideal material for automotive applications that require high performance, such as battery housings, structural components, and electrical connectors.
- Moreover, it has excellent heat resistance, which is essential in the e-mobility market, where high temperatures are generated due to the high-power output of the electric motors and the charging of batteries. Polyamide can withstand these high temperatures without degrading, making it an ideal material for various applications in EVs.
- Apart from this, Polyamide is a cost-effective material compared to other high-performance polymers such as polyether ether ketone (PEEK) and polyphenylene sulfide (PPS), making it an attractive option for manufacturers looking to reduce costs without compromising on the performance of their EVs.
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Key Market Trends:
The e-mobility market is rapidly evolving, and several key market trends are emerging in the use of polyamide. Some of the significant trends include:
- As the demand for EVs continues to grow, the use of polyamide in battery components such as battery housings, cell holders, and cooling systems is increasing. Polyamide's lightweight, heat resistance, and durability make it an attractive option for these applications.
- The demand for lightweight materials is increasing in the e-mobility market due to the need for higher energy efficiency and longer range. Polyamide's lightweight property is driving its adoption in the market, especially in EVs that require high-performance materials.
- The use of polyamide in structural components such as engine mounts, suspension parts, and crash structures is growing. Polyamide's excellent mechanical properties, such as strength and durability, make it a suitable material for these applications.
- The demand for sustainable materials is increasing in the e-mobility market. A recycled polyamide is an eco-friendly option that is gaining popularity as manufacturers aim to reduce their environmental footprint.
- The demand for electric buses is growing worldwide, with many cities and countries investing in electric public transport. Polyamide is being used in various bus components, such as structural parts, seats, and exterior body parts.
Restraints:
- Polyamide has a high moisture absorption rate, which can lead to dimensional instability and reduced mechanical properties over time. This can be a concern for automotive applications that require long-term reliability, such as electrical connectors.
- Polyamide is not very resistant to UV radiation and can degrade when exposed to sunlight. This can be a concern for components that are exposed to sunlight, such as exterior body parts, leading to a reduced lifespan of the material.
- Polyamide requires specialized processing techniques and equipment, which adds to the cost of manufacturing. This can be a concern for manufacturers looking to reduce costs without compromising on the performance of their EVs.
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Regional Landscape:
- Japan is expected to witness a sustainable market in the Asia Pacific region due to evolving consumer preferences and rising sales of electric vehicles.
- Europe is expected to witness a highly attractive market for polyamide suppliers due to rising awareness regarding sustainability. Moreover, countries such as Germany, France, Italy, and the United Kingdom are expected to favor high demand in 2033.
Competitive Landscape:
The competitive landscape in the polyamide market for e-mobility is characterized by intense competition, with companies investing heavily in research and development, partnerships, and acquisitions to enhance their market presence and gain a competitive edge.
- For instance, in January 2022, Solvay, a chemical manufacturer, launched a polyamide compound with upgraded performance.
Moreover, polyamide suppliers are also investing in the expansion of their production capacity to meet increasing demand.
Key Segments of Polyamide in E-Mobility Industry Research
- By Vehicle Type :
- Hybrid Electric Vehicles (HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Electric Vehicles (EVs)
- By Application :
- Electric/Electronic Components
- Under-Bonnet Components
- Vehicle Exterior
- Vehicle Interior
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Report
- What is the projected valuation of the polyamide in the E-mobility in 2023?
- At what rate will the global polyamide in the E-mobility market grow until 2033?
- Which are the factors hampering the growth of polyamide in the E-mobility Industry?
- Which region is expected to lead in the global polyamide in the E-mobility market from 2023 to 2033?
- Which are the factors driving the market during the forecast period?
- What is the expected market value of polyamide in the E-mobility market during the forecast period?
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