Latin America Electric Vehicle Polymers Market to 2028 - Players Include Arkema, Asahi Kasei and Celanese Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Latin America Electric Vehicle Polymers Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.

The publisher, in its report, denotes that the electric vehicle polymers market in Latin America would progress at a CAGR of 31.01% during the evaluated period 2019-2028. Brazil, Mexico, and Rest of Latin America together form the market in this region.

The electric vehicle sector's growth and government support towards EVs adoption are driving the Latin American electric vehicle polymers market. Brazil is known as one of the world's largest auto markets, with many leading companies having its base in the country. Moreover, the increase in vehicle ownership has influenced manufacturers to increase their investments in the auto industry. The government is also introducing incentives to expand the electric vehicle demand, intending to reduce greenhouse emissions. These factors will enhance the electric vehicle market growth, in turn, advancing the need for polymers. This increased need is positioning the electric vehicle polymers market in a positive direction.

In Mexico, financial incentives such as consumer tax credits have helped reduce the electric vehicles' upfront cost, resulting in their sales to surge. Additionally, the country's climate change law has guaranteed to diminish GHG emissions to a specific extent by 2030. As electric vehicles fulfill the emission standards' requirement, it is likely for the manufacturers to fast-track their production. The implementation of such reforms is projected to widen the electric vehicles market's progress in Latin America.

Market Dynamics

Drivers

• Demand for High-Performance Polymers in Electric Vehicles
• Policies and Incentives to Encourage Adoption of Electric Vehicles

Restraints

• Uncertainty of Raw Material Prices

Opportunities

• Use of Plastic Fuel Tank in Extended-Range Electric Vehicles (E-Rev)
• Growing Electric Vehicle Industry

Challenges

• Inadequate Charging Infrastructure

Companies Mentioned

• AGC Chemicals Americas Inc
• Arkema Sa
• Asahi Kasei Corp
• BASF Se
• Celanese Corporation
• China Sinopec (China Petrochemical Corporation)
• Covestro AG
• Daikin Industries Ltd
• Dupont
• Elkem Asa
• Evonik Industries AG
• JSR Corporation
• Lanxess AG
• LG Chem Ltd
• Lyondellbasell Industries Nv
• Mitsubishi Chemical Corporation
• Royal Dsm Nv
• Saudi Basic Industries Corporation (SABIC)
• Solvay Sa
• Sumitomo Chemical Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/2y827g