Global Electric Vehicle Insulation Market size was valued at US$ 1.3 Bn in 2019 and the total revenue is expected to grow at 26.7 % through 2020 to 2026, reaching nearly US$ 4.6 Bn.

The global Electric Vehicle Insulation market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Electric Vehicle Insulation report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Electric Vehicle Insulation Market Overview:

Electric vehicle insulation is employed for insulating a vehicle from heating, sound, and vibrations. The increasing production of electric vehicle insulation in countries such as China, the US, and Germany, among other countries, is expected to drive market growth.
Global Electric Vehicle Insulation Market Dynamics:

Favorable government initiatives to promote the use of green vehicles are expected to drive market growth during the forecast period. An increase in demand for battery-operated EVs, which can be attributed to stringent government regulations regarding vehicle emissions, this factor also drive the market.

Governments across the globe are providing subsidies to increase the adoption of electric vehicles, as it reduces oil consumption and pollution. Growing awareness regarding vehicle safety, coupled with high demand for improved energy efficiency and acoustic insulation is expected to have a positive impact on market growth. However, the high cost related to advanced insulation material is predicted to hinder the product demand over the forecast period.

Technological advancements in electrical vehicles, including long-range and less running costs, are expected to create opportunities for the expansion of the global electric vehicle insulation market.
Global Electric Vehicle Insulation Market Segment Analysis:

By Product Type, the technical foam market is bifurcated into Tim, foamed plastic, and ceramic. The foamed plastic segment is expected to drive the electric vehicle insulation market during the forecast period thanks to the growing demand for lightweight and impact-resistant insulation materials from the electric vehicles industry.

By Application, the market is bifurcated into under the bonnet & battery pack, and interior. Under bonnet & battery pack application segment account for the 43% share of the electric vehicle insulation market in terms of revenue, in 2019. Increasing product utilization for insulating a variety of vehicle components, like battery packs and electric motor, is projected to boost the segment growth.

By Propulsion Type, the market is bifurcated into BEV and PHEV. The BEV population type segment is estimated to lead the electric vehicle insulation during the forecast period thanks to the growing production of BEV due to its emission-free technology. In addition, the large battery pack of BEV when compared to PHEV is estimated to drive the demand for electric vehicle insulation in the BEV segment.

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By Insulation Type, the market is bifurcated into thermal, electrical, and acoustic. The electric insulation type segment accounted for a 50% share, in terms of revenue in 2019 and is expected to grow during the forecast period.

Global Electric Vehicle Insulation Market 1
Recent Developments

In November 2019, Autoneum launched a new material, Hybrid-Acoustics PET. It is also flameproof and used in powertrain-mounted insulators for combustion engines.

In July 2019, Autoneum launched Alpha-Liner, a multifunctional wheelhouse outer liner that reduces tire noise and makes vehicles quieter and lighter.

In November 2018, Zotefoams plc. increased the foam manufacturing capacity of ZOTEK HPP and the AZOTE polyolefin range of foam products at its UK plant by investing USD 15.5 million.
In May 2018, Autoneum opened its first plant in Komárom, Hungary, to manufacture lightweight components for acoustic and thermal management for vehicles.

In June 2016, ITW Inc. announced that its Formex brand of electrical insulation material (which was developed by the ITW Technology Center in 1985) is suitable for the insulation of battery in electric vehicles.
Global Electric Vehicle Insulation Market Regional Insights:

The Asia Pacific is dominating the Electric Vehicle Insulation Market

The Asia Pacific dominates the electric vehicle insulation market and accounted for a 57% share in terms of revenue in 2019. The region is witnessing an exponential demand for EVs on account of growing regulatory support and rising emphasis on reducing Greenhouse Gas (GHG) emissions from vehicular sources. The growth of the market is driven by the presence of major electric vehicle manufacturers such as BYD, Geely, SAIC, Chery Automobile, JAC Motors, and Zotye Automobile, creating a positive impact on the market.
North America is expected to dominate the Electric Vehicle Insulation Market

North America is expected to grow at a significant CAGR during the forecast period thanks to the presence of one of the world’s largest EV manufacturers, Tesla Inc. Furthermore, incentives and rebates provided by the governments in various countries are expected to boost the demand for electric vehicle insulation market.

Global Electric Vehicle Insulation Market 2

The objective of the report is to present a comprehensive analysis of the global Inorganic Corrosion market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

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The report also helps in understanding the global Inorganic Corrosion market dynamics, structure by analyzing the market segments and project the global Inorganic Corrosion market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Inorganic Corrosion market make the report investor’s guide.

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Global Electric Vehicle Insulation Market Scope: Inquire before buying

Global Electric Vehicle Insulation Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Electric Vehicle Insulation Market Key Players

• BASF SE (Germany)
• 3M (US)
• Morgan Advanced Materials (UK)
• DuPont (US)
• Zotefoams plc. (UK)
• Unifrax (US)
• Saint-Gobain (France)
• Von Roll Holding AG (Switzerland)
• Autoneum (Switzerland)
• Alder Pelzer Holding GmbH (Germany)
• Elmelin Ltd. (UK)
• Pyrophobic Systems Ltd. (Canada)
• Techman Advanced Material Engineers (UK)
• Marian Inc. (US)
• Parker Hannifin Corp
• Elkem Silicones
• Knauf Industries
• ITW Inc.
• Unifrax

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