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Future automobiles will almost certainly be electric, whether they are driverless or manually operated, privately owned or shared. Fully electric vehicles don’t use any hydrocarbon fuel, of course, but they still require a lot more high-end chemicals, resins, and polymers to make them than conventional vehicles do.
In the parts of the motor and drivetrain, a higher power density is on the rise. To achieve increased torque and speed, we need motors with superior winding wire characteristics, smaller motors with the same power and cheaper cost through simple design.
The electrical and insulating qualities of the current standard wire coatings are lost when exposed to heat, high voltage, and motor frequency. The next generation of materials with the perfect characteristics for these applications are thought to be new classes of fluoropolymers.
The US EV Chemicals Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
In order to create a supply chain for essential battery materials in North America, POSCO Chemical and General Motors (GM) will form a joint venture to produce cathode materials.
As part of the Joint Venture, the two businesses intend to invest millions of dollars in the initial construction of a sizable joint facility that will create high-nickel cathode materials for GM’s electric car batteries.
Construction on the property will provide the potential for future development as GM grows its electric car business. In terms of investment, manufacturing technology, raw material availability, and environmental friendliness, North America is the best region for the cathode active material industry.
It benefits from logistics facilities close to mines, an abundance of hydropower, renewable energy sources, etc.
