Polyamide a growth e-mobility market

Global polyamides in the e-mobility market stand at US$1.2 billion (NZ$3.25b) and are forecasted to expand at 7.8% CAGR during the next 10 years, reaching US$2.55b (NZ$4.15b) by the end of 2033.

That’s according to a new report Polyamide in E-Mobility Market from Fact.MR

Polyamides are extensively used in the automotive industry due to their low weight and thermal stability, with polyamide 6 and polyamide 66 high-performance plastics used in EV manufacturing owing to their flame-retardant and high-temperature resistance characteristics.

Growing adoption of polyamide materials to manufacture lightweight automotive components such as connectors, batteries and control units is also projected to uplift demand for polyamide in e-mobility over the coming years, Fact.MR adds.

“An increasing focus on sustainability is anticipated to promote the sales of bio-polyamide in the future.”

Growing automotive production, rising EV sales, increasing investments in automotive research and development, implementation of stringent mandates to reduce environmental impact, and growing application scope of polyamide materials are other aspects that could alter market growth throughout the forecast period, Fact.MR explains.

European Union member countries are estimated to account for more than a quarter of the global EV production.

Polyamide manufacturers are focusing on launching new and advanced products to improve the performance of vehicles and make vehicles more sustainable, says Fact.MR.