Electric Vehicle Composites Market 2022 Global Business Trends and Growing Demand and Forecast to 2028

Increasing usage of lightweight materials with an aim to reduce carbon dioxide emissions is considered a major factor driving the electric vehicle composites market. Electric vehicle composites offer superior strength-to-weight ratio. Development of battery electric and hybrid electric vehicles offering long travel distance led by their reduced weight is anticipated to propel the electric vehicle composites market during the forecast period. Exxon Company has fabricated an all-graphite frame and a glass/graphite hybrid body for its electric vehicles, achieving a total weight reduction of 200 lbs. Budd Company, due to its subcontract with Ai Research, has achieved significant reduction in the weight of parts by using glass-reinforced polyester. Several electric vehicle manufacturers are opting for the development of sustainable composite materials for their automobile components.

Key players operating in the global electric vehicle composites market include LANXESS, Hexagon Composites ASA, Solvay Group, Carbo Tech Composites GmbH, and DowDuPont.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

 Electric Vehicle Composites Market: Segmentations

In terms of material, the electric vehicle composites market can be classified into resins and fibers. The commonly employed resins include polyamide, polyester, epoxy, and polyurethane. The fibers segment comprises graphene, carbon nanotubes, glass, and aramids. In terms of structural component, the market can be categorized into exterior body panels, canter consoles, cross beam frames, and bumpers. In terms of application, the electric vehicle composites market can be divided into hybrid electric vehicles, plug-in hybrid electric vehicles, battery electric vehicles, and fuel cell electric vehicles. 

Recent Developments  

o Market Overview and growth analysis

o Import and Export Overview

o Volume Analysis

o Current Market Trends and Future Outlook

o Market Opportunistic and Attractive Investment Segment  

Global Electric Vehicle Composites Market  Report by Region

North America       

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East and Africa

Key Questions Answered by Electric Vehicle Composites Market   Report

• What was the Electric Vehicle Composites Market   size in 2021 and 2022; what are the estimated growth trends and market forecast (2022-2028).
• What will be the CAGR of the Electric Vehicle Composites Market   during the forecast period (2022-2028)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2022-2028).
• Which manufacturer/vendor/players in the Electric Vehicle Composites Market   was the market leader in 2021?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.