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(Wireless-NewsWire.Com, January 17, 2019 ) Rapidly-expanding Electric Vehicle Parc is Multiplying Applications of Polyamide in E-mobility
According to the International Energy Agency (IEA), over more than 1 million electric vehicles were sold across the world, resulting in a global stock of over 3 million. The unprecedented rise of 54% in electric vehicle sales was recorded in 2017, attributed to some important environmental policy announcements, and this is expected to generate high demand for electric components manufactured using polyamide in e-mobility.
In addition, China’s share in global sales of electric vehicles increased from just 10% in 2013 to over 40% in 2017, which indicates more lucrative opportunities for polyamide suppliers in e-mobility market in the country. Increasing stringency of environmental laws being enacted across the world is likely to accelerate electric vehicle sales in the coming years, contributing to the increasing applications of polyamide.
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Inclination towards Thermally Stable Automotive Components Amplify Demand for Polyamide in E-mobility
One of the leading reasons behind increased applications of Polyamide in E-mobility is its thermal stability and temperature resistance properties. High performance plastics, such as polyamide 6 and polyamide 66, can retain its stability at temperatures as high as 230°C, thereby manufacturing automotive components using polyamide is becoming a popular trend among automakers.
Increasing demand for polyamide in e-mobility can be majorly attributed to its flame-retardant characteristic, which is boosting its applications in manufacturing of batteries, control units, and connectors in electric vehicles. Polyamide suppliers are aiming to discover innovative composites of polyamide to give automotive components electromagnetic shielding properties and diversify their product range to gain an edge in the market.
Automakers Focus on Weight Reduction in Automotive Components; Metal to be Replaced by Polyamide in E-mobility
Automotive manufacturers are shifting their focus towards employing high performance plastics to further enhance performance characteristics of automotive components. To eliminate the needs for maintenance and mitigate the disadvantages of heavy weight of metallic automotive components, automakers and original equipment manufacturers (OEMs) are making a shift towards using lightweight materials such as polyamide in e-mobility.
Reducing weight of automotive components can help automakers to minimize energy consumption of electric vehicles, which is mainly bolstering the potential of high demand for polyamide in e-mobility. As lightweight design of automotive components measure a great importance in the automotive industry, the applications of polyamide in e-mobility are likely to be multiplied in the coming future.
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Increased Prices of Polyamide66 Due to Tight Supply May Hamper Adoption of Polyamide in E-mobility
According to the French industry association Groupement Plasturgie Automobile (GPA), the shortage of polyamide 66 supply caused an increase of more than 40% in its price in 2017. The global demand for lightweight automotive components has surged to put the supply chain for polyamide in e-mobility under immense pressure. As the polyamide supply has been too concentrated to meeting the burgeoning demand for lightweight automotive components, a majority of polyamide manufacturers have introduced a price rise.
BASF Corporation, a German chemical company, has increased the prices of polyamide 66 grades by $0.38/lb. Celanese Corporation, an American manufacturer of specialty chemicals, increased the prices of polyamide 66-based long-fiber thermoplastic grades by $0.22/kg in the U.S. and Asia, and by €0.15/kg in Europe. Koninklijke DSM N.V., a Dutch multinational, also announced that it has increased the prices of polyamide 66 by €0.17/kg.
In order to deal with polyamide 66 shortages and price rise, leading players are shifting to its smarter alternatives, such as polyamide 6, which is exhibits nearly similar strength and thermal stability as polyamide 66. Manufacturers of polyamide are also likely to introduce recycled polyamide compounds, which meet the necessary quality standards, for manufacturing automotive components to counteract tight supply and increased prices of polyamide 66.
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Competitive Landscape
The latest development in e-mobility segment along with strategic focus of prominent market players pertaining to demand of plastic and polyamide in e-mobility is incorporated in each company profile. Additionally, profiled players are mapped for their relative e-mobility infrastructure and capacity readiness.
In the report, polyamide suppliers in e-mobility are divided according to the manufacturers of polyamide and manufacturers of electronic automotive components. Polyamide suppliers in e-mobility featured in the report are Arkema SA, Lanxess AG, DowDuPont Inc., BASF SE, EMS Group, and UBE Industries Ltd. Component manufactures featured in the report are Ashok Minda Group, CIE Automotive, Teijin Limited, Flex-N-Gate, IAC Group LLC, Magna International, Toyoda Gosei Co. Ltd., Samvardhana Motherson Group, and Nifco Inc.
Key Developments
DowDuPont Inc., an American multinational chemical company, recently launched an initiative ‘AHEAD™’, which is designed by the company to offer innovative material capabilities and solutions for electric/hybrid-electric vehicles. The company is targeting the trend of vehicle electrification and increasing adoption of polyamide by creating a dedicated team of experts to reinforce its broad range of technology-based products and expertise in polymer and materials science.
Another manufacturer of polyamide – BASF SE acquired the integrated polyamide business of Solvay S.A. – a chemical company in Belgium, for €1.6 billion. The company is aiming to expand its engineering plastics portfolio and improving its position with this acquisition.
Lanxess Aktiengesellschaft, a German specialty chemicals company, recently declared it has invested approximately seven million euros to expand its production capacities of high-performance plastics, including polyamide. The company also announced that it is aiming to capitalize on the growing demand for polyamide in e-mobility and industry 4.0 by bolstering its production of plastic compounds such as polyamide.
Other manufacturers of polyamide, such as UBE Industries Ltd. and EMS Group, are aiming to deliver innovative solutions to reduce weight and improve fire protection features of electric vehicles by introducing polyamide in e-mobility.
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Magna International, a Canadian global automotive supplier, and Rohinni LLC, a lighting technology company, recently formed a joint venture – Magna Rohinni Automotive – to introduce ultra-thin micro LED lighting solutions in the mobility industry. Another leading player in the polyamide in e-mobility market – CIE Automotive has been on an acquisition spree as the company recently acquired Inteva Roof Systems and Newcor, Inc., both automotive component manufacturing companies. CIE Automotive is a leading player in the polyamide in e-mobility market, and it is strengthening its position in the machining technology and expanding its style-aesthetics-and-comfort-oriented products portfolio with these acquisitions.
Teijin Limited, a leading player in the polyamide in e-mobility market, recently acquired Inapal Plasticos SA (Inapal), a Portuguese automotive composite supplier, for around US$ 37 million, to position itself higher in the European automotive markets. The company also acquired J.H. Ziegler GmbH, a German automotive interior materials supplier, for approximately US$ 107 million, to improve its automotive interior materials’ production and sales capacities and capitalize on the rising demand for low-noise electric vehicles in European markets.
Definition
Polyamide is a type of synthetic polymers that are made of repeating amide linkages, which are commonly used in automotive applications. One of the most popular type of synthetic polyamides is nylon, and a mounting number of applications of polyamides in e-mobility market are attributed to its exclusive mechanical properties such as high tensile strength and thermal stability. Some common examples of applications of polyamide in e-mobility market are electronic components, under-bonnet components, and components used in the vehicle interior and exterior.
About the Report
The Fact.MR report on polyamide in e-mobility market offers readers the most important insights about growth prospects, potential opportunities, and recent trends in applications of polyamide in e-mobility market. Exclusive and unbiased conclusions, both qualitative and quantitative, about demand for polyamide in e-mobility market are provided to readers through the information included in the report. The report on polyamide in e-mobility market is comprehensible are it is segmented into three sub-segments, thereby the report provides in-depth information about growth of the market in the most seamless way
Segmentation
In order to provide detailed information about the polyamide in e-mobility market in the most comprehensible manner, the Fact.MR report divides polyamide in e-mobility market into its three broad sub-segments – vehicle types, applications, and regions.
Based on the vehicle types, polyamide in e-mobility market is segmented into three main types – hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and electric vehicles (EVs). According to its applications, polyamide in e-mobility market is broadly segmented into four categories – electric/electronic components, under-bonnet components, vehicle exterior, and vehicle interior. Based on regions, the polyamide in e-mobility market is segmented into four main geographical regions – North America, Europe, Japan, and Asia Pacific region Excluding Japan.
Additional Questions Answered
The report on polyamide in e-mobility market provides detailed information about growth prospects of the polyamide in e-mobility market, which includes detailed information about the micro and macroeconomic factors triggering or hampering demand for polyamide in e-mobility market.
The report also answers important, market-related questions for new manufacturers of polyamide in e-mobility market, which can help them to adopt appropriate business strategies and establish a stronger presence in the market. Some the questions answered in the polyamide in e-mobility market report include
Which is the most important factor which is continue to boost adoption of polyamide in e-mobility market in coming future?
Why is the APEJ market creating the most lucrative opportunities for manufacturers of polyamide in e-mobility market?
What are the risks that manufacturers and suppliers of polyamide in e-mobility market must be careful about?
What are the winning strategies adopted by leading manufacturers of polyamide in e-mobility market?
How are the leading manufacturers of polyamide in e-mobility market improving quality and mechanical properties of polyamide?
Research Methodology
The Fact.MR report helps readers in understanding the critical information on applications of polyamide in e-mobility market along with unique conclusions about the market growth. Detailed secondary and primary market research on the historical and current growth parameters of the polyamide in e-mobility market are conducted by analysts at Fact.MR. It helps them to reach the nearly accurate qualitative and quantitative information about how the demand for polyamide in e-mobility market will increase or decrease.
Secondary research on use of polyamide in e-mobility market helps analysts to understand the industry-validated facts and to predict the growth prospects of the polyamide in e-mobility market. This is followed by primary research, where leading stakeholders and industry experts, such as manufacturers, suppliers, investors, and distributors of polyamide in e-mobility market are interviewed to acquire comprehensive data about the use of polyamide in e-mobility market. The reliability and authenticity of the qualitative and quantitative information on how demand for polyamide in e-mobility market will grow during 2018-2028, is assured.
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