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Dublin, June 28, 2021 (Global News Agency) – “The global passenger car automotive plastic market by product type (PP, PU, PVC, PA), application (internal, external, under the hood), vehicle type (traditional car, electric car), and geography-by 2026 prediction” Report has been added to ResearchAndMarkets.com provide.
The global passenger car plastics market in 2021 is estimated to be 21.1 billion U.S. dollars and is expected to reach 30.8 billion U.S. dollars by 2026, with a compound annual growth rate of 7.9% during the forecast period from 2021 to 2026.
Increasing disposable incomes, lifestyle changes and population growth in emerging economies are some of the growth drivers for the passenger car plastics market.
The under-hood application segment is expected to grow at the highest compound annual growth rate during the forecast period
Based on applications, under-hood applications are the fastest growing segment of the passenger car automotive plastics market. As the demand for passenger cars increases, the demand for plastic powertrain components such as housings and motor housings may increase.
In addition, other factors driving market growth include battery thermal management systems that require high-quality polymer housings and the deployment of lightweight components for electric motors. New plastic innovations in electric powertrains, such as the use of polymers in the cooling concept of electric motor housing materials, may lead to the growth of advanced plastics used in under-hood components.
The PU product type segment is the largest market in 2020
PU is the largest product type segment in the passenger car automotive plastics market. PU is a strong and lightweight material that helps designers and manufacturers design seats and other components that can be assembled, disassembled, and recycled.
They have a variety of stiffness, hardness and density, and can be used for seats, steering wheels, car suspension bushings, carpet backing, seat coverings, headrests and armrests, airbag covers, sound insulation materials and…
The full story on Benzinga.com
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