Market Forecast By Polymers Market Type (Engineering Plastics, Elastomers), By Elastomers (Synthetic Rubber, Natural Rubber, Fluoroelastomer) And Competitive Landscape
Product Code: ETC4507479 | Publication Date: Jul 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 | |
Report Name | Turkey Electric Vehicle (Car) Polymers Market |
Forecast period | 2025-2031 |
CAGR | 20.5% |
Growing Sector | Polymer sector |
The Turkey Electric Vehicle (Car) Polymers Market report thoroughly covers the market by polymers market type, and by elastomers. Turkey Electric Vehicle (Car) Polymers Market report provides an unbiased and detailed analysis of the ongoing Turkey Electric Vehicle (Car) Polymers Market, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Turkey Electric Vehicle (Car) Polymers Market has experienced significant success and is anticipated to continue growing in the future. The market for electric vehicle (car) polymers in Turkey is expanding quickly because to encouraging government regulations and the growing popularity of electric cars (EVs). Improved EV performance is largely due to the important role polymers play in lowering vehicle weight and increasing energy efficiency. Polymer types with applications in battery components, interior parts, and external parts, such as elastomers and engineering plastics, are key categories. Turkey is positioned as a major participant in the global EV polymer sector thanks to the market benefits from technical improvements and the increased focus on sustainability.
According to 6Wresearch, Turkey Electric Vehicle (Car) Polymers Market size is expected to grow at a CAGR of 20.5% during 2025-2031. The major driver of the Turkey Electric Vehicle (Car) Polymers Market is the country's robust push towards sustainable transportation, fueled by governmental policies and incentives aimed at reducing carbon emissions. Turkey's commitment to the Paris Agreement and its national targets for emission reductions have spurred investments in electric vehicle (EV) infrastructure and technology. Polymers are essential in EV manufacturing due to their lightweight, durable, and cost-effective properties, which improve energy efficiency and extend battery life. The rise in consumer awareness about environmental sustainability and the benefits of EVs, such as lower running costs and reduced pollution, further propels market growth.
Additionally, technological advancements in polymer materials, such as high-performance engineering plastics and elastomers, enhance the overall efficiency and safety of EVs. The growing presence of domestic and international automotive manufacturers in Turkey, coupled with the increasing demand for advanced polymer solutions in EV applications, ensures a thriving market. Strategic collaborations and innovations in polymer technologies are expected to sustain this growth trajectory. Despite this, the Turkey Electric Vehicle (Car) Polymers Market faces significant challenges, including high production costs of advanced polymer materials and limited local manufacturing capabilities. The lack of sufficient charging infrastructure and consumer doubt towards electric vehicles also hinder market growth. Additionally, the dependency on imported raw materials makes the market vulnerable to global supply chain disruptions. Addressing these challenges requires substantial investment in local production facilities, technological advancements, and government support to enhance infrastructure and consumer confidence in EVs.
Prominent firms in the Turkey Electric Vehicle (Car) Polymers Market include multinational and local enterprises, renowned for their cutting-edge polymer solutions, such BASF SE, Dow Inc., DuPont, and SABIC. Petkim Petrokimya Holding A.\. and other Turkish businesses are important suppliers of polymers to the automobile sector. These businesses concentrate on developing lightweight, high-performing materials to improve the safety and efficiency of electric vehicles. These firms use a variety of crucial tactics, such as strategic alliances, local manufacturing investments, and research and development initiatives, to stay ahead of the competition and satisfy the expanding demand for electric vehicles in Turkey.
Government regulations in Turkey significantly influence the Electric Vehicle (Car) Polymers Market. The Turkish government has implemented various policies to promote the adoption of electric vehicles (EVs) as part of its commitment to reducing carbon emissions and adhering to international environmental agreements, such as the Paris Agreement. Incentives include tax reductions, subsidies for EV purchases, and investments in charging infrastructure, which boost the demand for EVs and, consequently, for advanced polymers used in their manufacturing. The government also imposes strict regulations on vehicle emissions and fuel efficiency, encouraging automakers to develop lighter, more efficient vehicles. Polymers, with their lightweight and durable properties, are crucial in meeting these regulatory standards. Additionally, Turkey is fostering a favorable environment for research and development in sustainable automotive materials, supporting innovation in polymer technology. Compliance with European Union regulations and standards further drives the market, as Turkey aligns its automotive industry with broader international practices, ensuring the quality and sustainability of its EV polymer solutions.
The growing popularity of electric cars and developments in polymer technology bode well for the Turkey Electric Vehicle (Car) Polymers Market in the future. The need for lightweight and effective polymer solutions will only grow as environmental consciousness and strict emission restrictions rise. It is anticipated that the government's pro-EV measures, such as financial incentives for EV sales and infrastructure expenditures for charging, would further propel market expansion. The sustainability and economic viability of the materials used in electric vehicles will be improved by technological advancements in high-performance polymers and recycling techniques. The enhancement of local manufacturing capabilities through collaboration between domestic and foreign businesses is expected to reduce dependency on imports and reduce supply chain disruptions. As Turkey aims to become a key player in the global EV market, ongoing research and development in advanced polymers will be crucial in meeting future demands and maintaining a competitive edge in the industry.
According to Ravi Bhandari, Head of Research, 6Wresearch, Engineering plastics are anticipated to dominate the Turkey Electric Vehicle Polymers market due to their superior mechanical properties and thermal stability. These materials are widely used in various automotive applications such as battery casings, housing components, and structural parts, which require high strength and durability. On the other hand, elastomers, known for their elasticity and flexibility, are expected to witness significant growth in the Turkey Electric Vehicle Polymers market. These materials are crucial in producing components like seals, gaskets, and weather-stripping, which need to maintain their performance under various stresses and temperatures. The rising demand for enhanced comfort and noise reduction in electric vehicles is likely to drive the adoption of elastomers in the industry.
On the basis of elastomers, Synthetic rubber is expected to dominate the industry due to its superior properties such as durability, flexibility, and cost-effectiveness, making it ideal for various EV components like tires, seals, and gaskets. Natural rubber, while environmentally friendly, is likely to see moderate growth due to its limited application in high-performance areas. Fluoroelastomers, known for their high resistance to heat, chemicals, and environmental degradation, are anticipated to experience significant growth, driven by the increasing demand for advanced materials in high-temperature and chemically intense EV applications.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Turkey Electric Vehicle (Car) Polymers Market Overview |
3.1 Turkey Country Macro Economic Indicators |
3.2 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, 2021 & 2031F |
3.3 Turkey Electric Vehicle (Car) Polymers Market - Industry Life Cycle |
3.4 Turkey Electric Vehicle (Car) Polymers Market - Porter's Five Forces |
3.5 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume Share, By Polymers Market Type, 2021 & 2031F |
3.6 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume Share, By Elastomers, 2021 & 2031F |
4 Turkey Electric Vehicle (Car) Polymers Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Turkey Electric Vehicle (Car) Polymers Market Trends |
6 Turkey Electric Vehicle (Car) Polymers Market, By Types |
6.1 Turkey Electric Vehicle (Car) Polymers Market, By Polymers Market Type |
6.1.1 Overview and Analysis |
6.1.2 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Polymers Market Type, 2021 - 2031F |
6.1.3 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Engineering Plastics, 2021 - 2031F |
6.1.4 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Elastomers, 2021 - 2031F |
6.2 Turkey Electric Vehicle (Car) Polymers Market, By Elastomers |
6.2.1 Overview and Analysis |
6.2.2 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Synthetic Rubber, 2021 - 2031F |
6.2.3 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Natural Rubber, 2021 - 2031F |
6.2.4 Turkey Electric Vehicle (Car) Polymers Market Revenues & Volume, By Fluoroelastomer, 2021 - 2031F |
7 Turkey Electric Vehicle (Car) Polymers Market Import-Export Trade Statistics |
7.1 Turkey Electric Vehicle (Car) Polymers Market Export to Major Countries |
7.2 Turkey Electric Vehicle (Car) Polymers Market Imports from Major Countries |
8 Turkey Electric Vehicle (Car) Polymers Market Key Performance Indicators |
9 Turkey Electric Vehicle (Car) Polymers Market - Opportunity Assessment |
9.1 Turkey Electric Vehicle (Car) Polymers Market Opportunity Assessment, By Polymers Market Type, 2021 & 2031F |
9.2 Turkey Electric Vehicle (Car) Polymers Market Opportunity Assessment, By Elastomers, 2021 & 2031F |
10 Turkey Electric Vehicle (Car) Polymers Market - Competitive Landscape |
10.1 Turkey Electric Vehicle (Car) Polymers Market Revenue Share, By Companies, 2024 |
10.2 Turkey Electric Vehicle (Car) Polymers Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |