Electric Vehicle Polymers Market Report 2026

The electric vehicle polymers market size has grown exponentially in recent years. It will grow from $32.83 billion in 2025 to $51.06 billion in 2026 at a compound annual growth rate (CAGR) of 55.5%. The growth in the historic period can be attributed to ev lightweighting trends, polymer performance improvements, cost reduction needs, replacement of metals, component integration benefits.

The electric vehicle polymers market size is expected to see exponential growth in the next few years. It will grow to $296.83 billion in 2030 at a compound annual growth rate (CAGR) of 55.3%. The growth in the forecast period can be attributed to advanced polymer formulations, recyclability mandates, higher temperature resistance demand, scalable ev platforms, material innovation. Major trends in the forecast period include increasing adoption of engineering polymers, growth of elastomer applications in evs, demand for structural polymer components, integration of polymers in powertrain systems, focus on weight and range optimization.

The increasing demand for electric vehicles is expected to propel the growth of the electric vehicle polymers market going forward. Electric vehicles (EVs) are powered by one or more electric motors drawing electricity from an external power source. Polymers are widely used in EVs to reduce weight, enhance efficiency, improve durability, and allow greater design flexibility. For instance, in January 2024, according to the U.S. Energy Information Administration, a US-based organization, in 2023, hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) together accounted for 16.3% of total new light-duty vehicle (LDV) sales in the U.S. Therefore, the rising adoption of electric vehicles is driving the growth of the electric vehicle polymers market.

Major companies operating in the electric vehicle polymers market are focusing on developing high-heat and flame-resistant polymers to improve battery safety and thermal performance. High-heat and flame-resistant polymers are materials engineered to withstand extreme temperatures without melting or igniting, protecting EV battery components, preventing thermal runaway, and enhancing overall safety. For instance, in March 2023, Solvay, a Belgium-based chemical company, launched Xydar LCP G-330 HH, a liquid crystal polymer designed for high-heat electric vehicle battery module insulation. This injection-molded, glass-filled polymer maintains electrical insulation even when exposed to 400°C for 30 minutes, naturally providing flame resistance without halogen or bromine additives, thereby improving passenger safety during battery thermal events.

In June 2023, Arkema S.A., a France-based specialty materials company, acquired PI Advanced Materials (PIAM) for $849 million (€728 million). This acquisition expands Arkema’s high-performance polymer portfolio and supports growth in applications such as lithium-ion batteries, 5G antennas, and flexible OLED displays, reinforcing its position in the electric vehicle and advanced materials markets. PI Advanced Materials (PIAM), based in South Korea, specializes in polyimide films used in high-performance electronics and EV components.

Major companies operating in the electric vehicle polymers market report include BASF SE, Saudi Basic Industries Corporation, LG Chemical Ltd., Sumitomo Chemical Co Ltd., Toray Industries Inc., Evonik Industries AG, Covestro AG, Shin-Etsu Chemical Co Ltd., Asahi Kasei Corporation, Solvay S.A., Mitsui Chemicals Inc., DuPont de Nemours Inc., Arkema SA, Celanese Corporation, Koninklijke DSM NV, Lanxess AG, Tosoh Corporation, DIC Corporation, Teijin Limited, Kumho Petrochemical Co Ltd., Ube Industries Ltd., Zeon Corporation, JSR Corporation, Kuraray Co Ltd., Sumitomo Bakelite Co Ltd., Mitsubishi Engineering-Plastics Corporation, Polyplastics Co Ltd.

Asia-Pacific was the largest region in the electric vehicle polymers market in 2025. The regions covered in the electric vehicle polymers market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle polymers market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric vehicle polymers market consists of the sale of polyethylene, polypropylene, polyvinyl chloride, polyamide, acrylonitrile butadiene styrene, synthetic rubber, polyamide, natural rubber, polycarbonate, polyurethane, silicone, and fluoropolymers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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