Global was valued at USD 55.5 million in 2023 and is projected to reach USD 83.8 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period (2024-2030). This growth is driven by increasing demand for lightweight materials in electric vehicles and stringent environmental regulations promoting sustainable automotive solutions.
As the automotive industry shifts toward electrification, the focus intensifies on advanced materials that enhance vehicle efficiency and performance. This report highlights the Top 10 Companies in the – a mix of chemical giants and specialty material manufacturers shaping the future of automotive materials.
🔟 1. SABIC
Headquarters: Riyadh, Saudi Arabia
Key Offering: LEXAN™ PC-Siloxane Copolymers
SABIC leads the market with its high-performance thermoplastics for automotive applications. Their LEXAN™ copolymers offer superior impact resistance and thermal stability for EV components.
Innovation Focus:
- Development of flame-retardant grades for battery components
- Collaboration with major automakers for material integration
- Investment in recycling technologies for PC materials
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9️⃣ 2. Covestro AG
Headquarters: Leverkusen, Germany
Key Offering: Makrolon® PC-Siloxane Blends
Covestro’s specialty copolymers are widely used in EV charging components and lighting systems, offering excellent optical clarity and heat resistance.
Recent Developments:
- New production facility for automotive-grade PC in China
- Development of bio-based PC alternatives
8️⃣ 3. Mitsubishi Chemical Corporation
Headquarters:
