According to a new report by Univdatos Market Insights, Polyamide in E-mobility Market Globally is expected to reach USD 2.14 Billion in 2030 by growing at a CAGR of 7.51%. As the world grapples with the challenges posed by climate change, the transportation sector has come under increased scrutiny for its contribution to greenhouse gas emissions. In response, governments and consumers alike are turning to electric vehicles (EVs) as a cleaner, more sustainable alternative to traditional internal combustion engine vehicles. According to a recent report by the International Energy Agency, the global projection demand for EVs is expected to reach 72.3 million by 2030, driven primarily by government regulations and incentives, declining battery costs, and increasing consumer acceptance. This surge in demand for EVs is poised to have a profound impact on the polyamide market, as these materials play a critical role in the production of various EV components, such as batteries, fuel cells, and powertrains.

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The growth of the polyamide market in the EV space is not limited to passenger cars alone; buses and commercial vehicles are also set to contribute significantly to the demand for these materials. As cities around the world continue to adopt stricter emission controls and promote clean energy initiatives, the adoption of EVs in public transportation is expected to gain momentum, driving the need for more robust and efficient EV components. Moreover, the rise of the sharing economy and the proliferation of online platforms for car-sharing and ridesharing have created new opportunities for the polyamide market in the EV space. With more people opting for shared mobility solutions, the demand for EVs is expected to increase, translating into higher sales of polyamide-based components. To meet the burgeoning demand for EVs, the polyamide market is expected to experience significant growth over the next decade.

The report suggests that the Journey Toward Net Zero Economy is one of the major factors driving the Global Polyamide in E-mobility during the forthcoming years. A net-zero economy refers to an economy where there are no net emissions of greenhouse gases (GHG) into the atmosphere; this entails an equivalent amount of GHG removals, either through natural or artificial means. To achieve this, the government is forming strategic alliances with ESG and sustainable consulting firms to provide a roadmap and regular evaluations of the plans. According to the data from the International Energy Agency, India’s emissions today stand at 3.6 Gt CO2 annually, a figure which is projected to grow to 7.3 GtCO2, surpassing China and the United States to become the largest emitter. Therefore, over the coming years, India will take on a highly significant role in global decarbonization, thus stimulating the demand for Global Polyamide in the E-mobility market throughout the forecast period.

Apart from this, with the growing adoption of electric vehicles worldwide, a wide range of investments, increased production capacity, and strategic alliances have been adopted in this area, thus suggesting huge potential in this area. Some of the recent strategic alliances are:

· In January 2022, BASF and Covestro announced a joint venture to produce and sell polyamide compounds for the automotive industry, particularly for EVs. The joint venture will combine BASF’s expertise in polyamide production with Covestro’s knowledge of the automotive industry and will focus on developing new polyamide grades with improved properties for EV applications.

· In February 2022, Solvay S.A. announced that it is expanding its production capacity of high-performance polymer Solef polyvinylidene fluoride (PVDF) at its site in Tavaux, France. This new project will expand its capacity in Europe to 35,000 metric tons per year (m.t./yr), creating the largest PVDF production site in the region.

· In December 2022, Celanese Engineered Materials, a subsidiary of the Celanese Corporation based in the United States, announced the development of a novel chemical bonding technology to join aluminum and polyamides. This technology addresses the challenge of bonding these materials for industrial and automotive applications, with the launch of Zytel Bonding Technology expected to provide a solution.

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The global demand for electric vehicles (EVs) is expected to experience a significant surge soon, due to a number of factors such as government regulations, diminishing battery costs, and increased acceptance among consumers. As the world struggles to address the dangers of climate change, the contribution of the transportation sector to greenhouse gas emissions has been brought to attention. Polyamide materials are essential for the fabrication of various EV components, including batteries, fuel cells, and powertrains. Furthermore, the growth potential of the polyamide market has generated various strategic partnerships and investments. The increasing demand for EVs and the move toward a net-zero economy are fundamental determinants that will have a noteworthy influence on the global polyamide in the e-mobility market. With the possibility of extended production capacity, investments, and strategic alliances, the polyamide market is likely to see substantial growth in the coming years as the world progressively adopts cleaner and more sustainable forms of transportation.