Global Electric Vehicle Insulation Industry Outlook, 2020-2024 - The Lack of Standardization of Charging Infrastructure is Restraining Further Growth
DUBLIN, March 20, 2020 /PRNewswire/ -- The "Electric Vehicle Insulation Market by Product Type (TIM, Foamed Plastic, Ceramic), Application (Under the Bonnet & Battery Pack, Interior), Propulsion Type (BEV, PHEV), Insulation Type (Thermal, Electrical, Acoustic) and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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The global market size of electric vehicle insulation was USD 900 million in 2018 and is projected to reach USD 4,160 million by 2024, at a CAGR of 26.7% between 2019 and 2024.
This report segments the market for electric vehicle insulation based on product type, propulsion type, insulation type, application, and region and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, expansions, new product launches, expansions, acquisitions, joint ventures, and new technology development associated with the electric vehicle insulation market.
The thermal interface materials segment is estimated to witness the highest growth rate between 2019 and 2024.
The thermal interface materials in the product type segment is estimated to witness the higher growth rate between 2019 and 2024. The growth is attributed to the growing demand for thermal management in batteries, with the increasing production of electric vehicles.
Growing demand for BEV is expected to drive the electric vehicle insulation market.
The market in the electric vehicle insulation propulsion type is driven mainly by the increasing production of BEV. The emission-free technology of BEV accompanied by an increasing need to insulate battery packs, among other components with the growing production of BEV, is estimated to drive the market demand.
Thermal insulation & management is expected to drive the electric vehicle insulation market.
The thermal insulation & management segment is estimated to witness the highest CAGR during the forecast period. This is owed to increasing demand for thermal insulation & management in battery packs. Also, the growing demand for high capacity batteries with increasing production of electric vehicles is another factor driving the thermal insulation & management segment.
Under the bonnet and battery pack application is estimated to witness the highest CAGR during the forecast period.
Under the bonnet and battery pack application is estimated to witness the highest CAGR during the forecast period. This is due to the need to insulate battery and electric motor, among other components in case of BEVs; and internal combustion engine (ICE), battery, and electric motor, among other components in case of PHEVs.
The electric vehicle insulation market in North America is projected to witness the highest growth during the forecast period.
The North American electric vehicle insulation market is estimated to witness significant growth during the forecast period. This is due to the presence of key electric vehicle manufacturers such as Tesla and General Motors along with key electric vehicle insulation manufacturers such as DuPont, Unifrax, 3M, Pyrophobic Systems Ltd., and Marian Inc. among others in the region. Also, stringent regulations regarding CO2 emission are driving the market in the region.
The key players in the electric vehicle insulation market are E.I. Du Pont De Nemours and Company (US), Saint-Gobain (France), ITW Inc. (US), Autoneum (Switzerland), BASF SE (Germany), Zotefoams plc (UK), Unifrax (US), 3M (US), Morgan Advanced Materials (UK), Alder Pelzer Holding GmbH (Germany), Elmelin Ltd. (UK), and Pyrophobic Systems Ltd. (Canada), among others. The market players are focusing on launching new products and expanding their manufacturing units in emerging economies of APAC to meet the growing demand.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Electric Vehicle Insulation Market
4.2 Electric Vehicle Insulation Market, By Region
4.3 APAC Electric Vehicle Insulation Market, By Application and Country (2018)
4.4 Electric Vehicle Insulation Market, By Major Countries
4.5 Electric Vehicle Insulation Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Thermal Runaway in Batteries
5.2.1.2 Favorable Government Policies and Subsidies
5.2.1.3 Campaigns for Promotion of Electric Vehicles
5.2.1.4 Growing Concerns Over Pollution
5.2.1.5 Heavy Investments From Automakers in Electric Vehicles
5.2.2 Restraints
5.2.2.1 Lack of Standardization of Charging Infrastructure
5.2.3 Opportunities
5.2.3.1 Scope for Growth of Autonomous Electric Vehicles
5.2.3.2 Scope for Further Development of Insulation Materials for Electric Vehicles
5.2.4 Challenges
5.2.4.1 Limited Range of Electric Vehicles
5.2.4.2 High Cost of Electric Vehicles in Comparison to Ice Vehicles
5.3 Shift in Revenue Streams Due to Megatrends in End-Use Industries
5.4 Porter's Five Forces Analysis
5.4.1 Threat of Substitutes
5.4.2 Threat of New Entrants
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
6 Government Regulations
6.1 Introduction
6.2 Canada
6.3 China
6.4 Denmark
6.5 France
6.6 Austria
6.7 Germany
6.8 Spain
7 Electric Vehicle Insulation Market, By Product Type
7.1 Introduction
7.2 Foamed Plastics
7.2.1 Growing Demand for Light-Weight and Impact Resistant Materials to Drive Foamed Plastics Market
7.2.2 Polyurethane
7.2.3 Polypropylene
7.2.4 Others
7.3 Thermal Interface Materials (TIM)
7.3.1 Need for Thermal Management and Electrical Insulation of Battery to Drive This Segment
7.4 Ceramic
7.4.1 Need for Prevention of Thermal Runaway Propagation in Batteries to Drive the Demand
7.5 Others
8 Electric Vehicle Insulation Market, By Propulsion Type
8.1 Introduction
8.2 Battery Electric Vehicle
8.2.1 Requirement of Thermal Insulation & Management of Battery Pack to Drive the Market in BEV
8.3 Plug-In Hybrid Electric Vehicle
8.3.1 Need for Thermal, Electrical, and Acoustic Insulation is Key Factor for Growth of the Market in This Segment
8.4 Hybrid Electric Vehicle (HEV)
8.5 Fuel Cell Electric Vehicle (FCEV)
9 Electric Vehicle Insulation Market, By Application
9.1 Introduction
9.2 Under the Bonnet and Battery Pack
9.2.1 Growing Production of BEV to Drive Under the Bonnet and Battery Pack Insulation Market
9.3 Interior
9.3.1 Need for Thermal, Electrical, and Acoustic Insulation Driving the Market in This Segment
9.4 Others
9.4.1 Growth in BEV to Drive the Demand in Other Applications Segment
10 Electric Vehicle Insulation Market, By Insulation Type
10.1 Introduction
10.2 Thermal Insulation & Management
10.2.1 Growing Demand for Higher Battery CAPACity to Drive Thermal Insulation & Management Segment
10.3 Acoustic Insulation
10.3.1 BEV to Dominate Consumption of Acoustic Insulation
10.4 Electrical Insulation
10.4.1 Increased Power Density Requirement to Drive the Electrical Insulation Market
11 Electric Vehicle Insulation Market, By Region
11.1 Introduction
11.2 APAC
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.3 North America
11.3.1 US
11.3.2 Canada
11.4 Europe
11.4.1 Germany
11.4.2 France
11.4.3 UK
11.4.4 Netherlands
11.4.5 Norway
11.4.6 Sweden
11.4.7 Denmark
11.4.8 Austria
11.4.9 Switzerland
11.4.10 Spain
12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping, 2018
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Market Ranking of Electric Vehicle Insulation Manufacturers
12.6 Competitive Situation and Trends
12.6.1 Expansion
12.6.2 New Product Launch
12.6.3 Joint Venture
12.6.4 Investment
12.6.5 New Technology Development
12.6.6 Acquisition
13 Company Profiles
13.1 Saint-Gobain
13.1.1 Business Overview
13.1.2 Products Offered
13.1.3 SWOT Analysis
13.1.4 Saint-Gobain: Winning Imperative
13.1.5 Current Focus and Strategies
13.1.6 Threat From Competition
13.1.7 Saint-Gobain's Right to Win
13.2 Autoneum
13.3 BASF SE
13.4 ITW Inc.
13.5 Zotefoams PLC
13.6 Von Roll Holding AG
13.7 Unifrax
13.8 DuPont
13.9 3M
13.10 Morgan Advanced Materials
13.11 Alder Pelzer Holding GmbH
13.12 Elmelin Ltd.
13.13 Pyrophobic Systems Ltd.
13.14 Techman Advanced Material Engineers
13.15 Marian Inc.
13.16 Hilti
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