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Posted by smithmorgan on October 12, 2024 at 10:35am 0 Comments 0 Likes
Posted by smithmorgan on October 12, 2024 at 10:35am 0 Comments 0 Likes
Posted by smithmorgan on October 12, 2024 at 10:34am 0 Comments 0 Likes
Posted by jack452 on October 12, 2024 at 10:33am 0 Comments 0 Likes
The global Polyurethane Market size is expected to reach USD 105.29 billion by 2030, registering a CAGR of 4.4% according to a new report by Grand View Research, Inc. The market is driven by the growing need for high-performance and lightweight composites in the automotive industry. The use of thermoplastic polyurethane (TPU) in car components has significantly reduced total vehicle weight. The automobile industry's need for plastics has been driven by the need to reduce total vehicle weight in order to reduce fuel consumption and carbon emissions. As an alternative to metals, PU is frequently utilized in automobile applications such as engine encapsulation, seats, external panels, instrument panels, external panels, and cables and wires.
Automobile manufacturers have been obliged to look for new ways to reduce fuel consumption as the Corporate Average Fuel Economy (CAFE) has increased. Due to the intrinsic relationship between mass and fuel consumption, light weight is a critical issue in these standards. Additionally, the reduction in mass at unfastened locations reduces noise and vibration while also smoothing the ride. Automobile manufacturers are primarily focused on car components made of various types of plastics in order to improve vehicle performance and follow the trend of lightweight vehicles.
Plastics are increasingly being used in automobile components such as automotive interiors, exterior panels, engine cabins, and instrument panels to improve fuel efficiency. Plastics can help reduce total vehicle weight and achieve the necessary fuel economy when used instead of metal components. This tendency, together with rising vehicle production, is predicted to boost polyurethane demand in applications such as engine encapsulation, outer body panels, and interior panels.
The COVID-19 pandemic had a significant impact on vehicle production and caused disruption throughout the automotive value chain. The market for polyurethane in automotive applications is projected to be impacted by a slowdown or standstill in production activity, negative consumer sentiments, and decreased consumer demand due to COVID-19.
During the forecast period, the electronics and appliances application segment is expected to increase at a significant rate. Protective coverings, printed circuit boards, electrical housings, and other items are made of polyurethane. While delivering outstanding general performance in electrical equipment, polyurethane enables cheaper unit costs and faster manufacturing. A key reason driving polyurethane demand in electronics and appliances is the growing relevance of encapsulating electronic components like circuits and sensors.
Related Press Release@ Polyurethane Market Report
Polyurethane Market Report Highlights
List of Key Players in the Polyurethane Market
Related Reports@
Plastic Films And Sheets Market
Polyurethane Market Segmentation
Grand View Research has segmented the global polyurethane market based on product, application, and region:
Polyurethane Product Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)
Polyurethane End-Use Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)
Polyurethane Regional Outlook (Volume, Kiloton; Revenue, USD Million, 2018 - 2030)
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