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China Polyamide Resins for Battery Electric Vehicles Market Segmentation by Application (Body Parts, Electric Wire Cable Jacket, Powertrain System, EV Charging Systems, Battery Components, and Others) – Demand Analysis & Opportunity Outlook 2021-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • March 29th, 2022: Ascend Performance Materials announced that it has come into an agreement to acquire Formulated Polymers Limited’s compounding division that manufactures polyamide compounder in the manufacturing facility in Chennai, India. Through the acquisition, Ascend would expand its product portfolio in the electrical and e-mobility application space.

  • November 24th, 2021: LANXESS announced that it would invest around USD 33 Million in its manufacturing site in Changzhou, China for the manufacturing of hi-tech plastics. The investment would increase the capacity of the manufacturing plant by 30,000 Metric Tons per year.

  • January 31st, 2020: Domo Chemicals announced that it has completed the acquisition of the Performance Polyamides business division of Solvay Group in Europe.

China Polyamide Resins for Battery Electric Vehicles Market Highlights Over 2021 - 2031

The China polyamide resins for battery electric vehicles market is estimated to garner a revenue of USD 2074.4 Million by the end of 2031, by growing at a CAGR of 27.6% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market in the nation generated a revenue of USD 189.3 Million. The growth of the market can majorly be attributed to the rising demand for different types of electric vehicles in China, backed by the growing focus of the government of the nation to meet the Net Zero targets. According to the statistics by the International Energy Agency (IEA), in the year 2020, electric car stock around the globe reached 10 Million, wherein China registered the second-leading share of EV car stock with 1.2 Million registrations. Additionally, battery electric vehicles (BEVs) in the region grew from 0.1 Million in the year 2014 to 3.5 Million in the year 2020. The market growth can also be attributed to the increasing need amongst the electric vehicle manufacturers to use alternative materials that can allow them to not just lower the cost of vehicles, but also enhance the vehicle efficiency.

Polyamide Resins for Battery Electric Vehicles Market

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Besides this, the presence of large number of new energy vehicle manufacturers, along with the presence of vehicle component manufacturers in the nation is also expected to add in the market growth in the coming years. In addition to this, the increasing research and developments in the field of developing specialty chemicals, such as polyamide resin, for manufacturing different electric vehicle components is also expected to promote the market growth during the forecast period.

Growth Drivers and Challenges Impacting the Growth of the China Polyamide Resins for Battery Electric Vehicles Market

Growth Drivers

  • Growing Demand for New Energy Vehicles (NEVs)
  • Increasing Need Amongst Vehicle Manufacturers to Find Low-Cost Alternatives Against Conventional Raw Materials Used for Manufacturing BEVs

Challenges

  • Fluctuation in the Prices of Raw Materials
  • Concern for Sourcing of Polyamide Resins

China Polyamide Resins for Battery Electric Vehicles Market Segmentation Synopsis

The China polyamide resins for battery electric vehicles market is segmented by application into body parts, electric wire cable jacket, powertrain system, EV charging systems, battery components, and others. Out of these, the body parts segment is anticipated to garner the largest revenue of USD 563.2 Million by the end of 2031, up from a revenue of USD 55.8 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the China polyamide resins for battery electric vehicles market that are included in our report are Shandong Huijin Chemical Co., Ltd., Mitsubishi Chemical (China) Co., Ltd., The Dow Chemical Company, DSM, Solvay Group, LANXESS, Anqing Hongyu Chemical Co., Ltd., Merck KGaA, Domo Chemicals, Ascend Performance Materials, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Market Definition and Research Methodology
    1. Market Definition and Segmentation
    2. Assumptions and Acronyms
    3. Research Objective
    4. Research Methodology
  2. Executive Summary
  3. China Polyamide Resins Market in Battery Electric Vehicles
    1. Market Overview
    2. Market Size, Value (USD Million) (2021-2031)
    3. Market Size, Volume (Thousand Tons) (2021-2031)
    4. Market Segmentation by Application:
      1. Body Parts, Value & Volume, (2021-2031)
      2. Electric Wire Cable Jacket, Value & Volume, (2021-2031)
      3. Powertrain System, Value & Volume, (2021-2031)
      4. EV Charging Systems, Value & Volume, (2021-2031)
      5. Battery Components, Value & Volume, (2021-2031)
      6. Others, Value & Volume, (2021-2031)
  4. Competitive Players:
    1. Shandong Huijin Chemical Co., Ltd.
    2. Mitsubishi Chemical (China) Co., Ltd.
    3. The Dow Chemical Company
    4. DSM
    5. Solvay Group
    6. LANXESS
    7. Anqing Hongyu Chemical Co., Ltd.
    8. Merck KGaA
    9. Domo Chemicals
    10. Ascend Performance Materials

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