Electric Vehicles and the Growing Significance of Adhesives and Sealants for Battery Assembly
Adhesives, sealants, and heat transfer materials used in battery assembly operations will find myriad opportunities in the exciting electric vehicle market.
Electric vehicles (EVs) have been rapidly adopted in recent years, and the rate of market growth has shown to be significantly higher than that of the fuel-injected automotive market. Indeed, the global stock of electric cars surpassed five million in 2018. Conservative estimates expect global EV sales to reach 23 million by 2030, according to the International Energy Agency, with aggressive estimates putting that number at 43 million.1
As a result of this tremendous shift, it comes as no surprise that major automotive OEMs are ready to invest significant resources into the development of their EV product lines. For example, Ford has announced plans to launch 40 new electric and hybrid car models worldwide by 2022, and Volkswagen is targeting the global release of 70 new electric models by 2030. Similar announcements have come from many other major automotive OEMs as well, including Daimler, Toyota, BMW, and General Motors.