“Accelerating Demand from Electric and New Energy Vehicles”
- The rapid transition toward electric vehicles (EVs) and alternative energy-powered transportation is significantly influencing the automotive components industry. Among the key beneficiaries are rubber molded components, particularly those made from EPDM, which is favored for its resistance to heat, UV rays, and weathering.
- As EVs require more specialized insulation and sealing materials to ensure efficiency and performance, manufacturers are increasingly integrating high-grade rubber parts into battery enclosures, under-hood components, and weather strips.
For instance,
- In April 2023, the International Energy Agency (IEA) reported that electric car sales had exceeded 10 million units in 2022 a sharp rise from 6.6 million in 2021. The report also highlighted that China alone accounted for nearly 60% of global EV sales.
- This consistent rise in electric and hybrid vehicle sales is anticipated to drive sustained demand for durable rubber molded components over the coming years.
