Electric Vehicle Insulation Market 2022 Top Trends, Growth Opportunities & Projections To 2030
The global electric vehicle insulation market is expected to register appreciable growth over 2022-2030, on account of increased requirements for optimizing the heat management of EV batteries.
Scientists are exploring new technologies to mitigate battery overheating and maximize the overall performance of the vehicle. Citing an instance, in May 2022, researchers at Drexel University developed an optimization system for EV batteries to manage weight, durability, and thermal activity.
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The increased usage of structural batteries has also amplified the problem of heat generation. To address this, the Drexel research team integrated vascular systems to dissipate heat. They designed cooling composites that would become part of the structural battery packaging currently being tested by major EV players such as Volvo, Tesla, and Volkswagen.
Placing the structural batteries in between layers of the microvascular cooling was intended to stabilize temperature during usage, extend functional power range and time, and in turn increase the adoption of insulation for EVs.
The electric vehicle insulation industry is divided in terms of product type, propulsion type, insulation type, application, and region.
Based on product type, the ceramic segment is poised to record a CAGR of over 11.5% over the stipulated timeframe owing to the heat retention capacity of the material. During heat treatment, mullite saggars are used for holding cathode materials due to their ability to withstand high temperatures and non-reactive characteristics.
Many companies use similar saggars made from technical ceramics such as alumina and cordierite. These materials are lightweight, have high heat resistance, and are ideal for firing smaller components at higher temperatures. These characteristics showcase the usability of ceramics in the insulation of electric vehicle batteries, driving industry expansion.
The acoustic insulation segment of the EV insulation market will exhibit reasonable growth during the forecast period. While electric cars are quieter than conventional IC engines, one of the main sources of noise pollution for EVs is road noise. Additionally, driving at faster speeds is also a reason for noises in the EV, especially if there are gaps in the door panels.
Companies are developing new products that address these issues, by offering optimum acoustic insulation. For instance, 3M introduced its 3MTM Acoustics Solution treatment to deploy sound absorbers, vibration dampers, and the Noise Sealing Tape to deliver a quieter ride, offer better sound quality, and reduce air-borne noise. Product offerings such as these are expected to increase demand for acoustic insulation products and in consequence, boost market value.
From a regional frame of reference, the Middle East & Africa electric vehicle insulation industry is predicted to be worth USD 75 million by 2030. This can be accredited to the increasing adoption of electric vehicles in the region.
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Countries such as Saudi Arabia are promoting the adoption of EVs via infrastructure development initiatives, such as allotting five percent of all parking spaces throughout the Kingdom for electric vehicles. Governmental support for the development of EV charging infrastructure will encourage the general population to purchase these vehicles. This will bolster the deployment of battery safety solutions EV insulation and fuel the regional market growth.
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