The bio-based polyurethane market will touch a value of USD 63.3 million by 2030, at a compound annual growth rate of 6.9% in the years to come. The growth of the industry is because of the numerous uses of this polymer, like in footwear, packaging, biomedical and transportation industry.

Bio-based polyurethane coatings are widely replacing petrochemical coatings as they do not pose much damage to the environment and are affordable, easily accessible and recyclable.

The largest share, more than 50%, was held by the flexible foam category, and rigid foam and coatings, adhesives, & sealants followed it.

Flexible foam made with bio-based polyurethane is strong, light and comfortable. The material is put to use for cushioning for a large number of consumer and commercial products, for example automotive interiors, carpet underlay, packaging, furniture, seating, mattresses, and specialty items. The acceptance of this material is because of its ability to be highly firm or soft and viscoelastic.

The packaging category will grow significantly at a rate of about 9%. Snack food bags, shopping bags, and printed films use one-component polyurethane adhesives largely.

Moreover, a custom-made two-component polyurethane adhesive is used to apply polyvinyl chloride to aluminum sheets for medical uses. Furthermore, hot-melt polyurethane is extremely appropriate for wrapping applications because of its low viscosity and low temperature.

Green buildings are getting popular as they are environment-friendly and help save on the costs of operations. Numerous government agencies have recognized and incentivized green buildings, such as the World Green Building Council, Ministry of Skill Development & Entrepreneurship, SIDBI and the GSA in the U.S.; in addition to municipal bodies and state governments across nations.

The automotive busbar market is estimated to generate USD 41,266.0 thousand in 2023, which will touch USD 168,858.1 thousand, propelling at a 21.4% compound annual growth rate, by 2030.

The progression of this industry is primarily because of the mounting advancement as well as acceptance of EVs, coupled with the operational advantages and low cost of busbars over cables.

Moreover, with the electrification of vehicles, power & inverter modules have been experiencing advancements and modifications in terms of their manufacturing, design, and integration with additional systems.

The low category, on the basis of power rating, is leading the industry, with approximately 84% share, in 2023. This can be because low-power busbars are extensively being employed in electric vehicles' battery components and pack interconnectedness and in electric vehicle charging stations.

In addition, as the usage of these busbars to the aforementioned extents is more than DC/AC converters as well as powertrain inverters, where high-power busbars are usually utilized, thus, the category is leading.

The copper category, on the basis of conductor, is leading the automotive busbar market, with an 84% share, in 2023. This will be because copper busbars have lower voltage drop, electrical resistance, and energy loss, as well as a greater ampacity than their aluminum counterpart.

Likewise, copper is utilized more generally for electronic cables, building wires, and various other products that need high conductivity.

The aluminum category, on the basis of conductor, will progress at a higher rate, of approximately 24%, in the years to come. This is because aluminum is more inexpensive and lighter as compared to copper, and it provides less electric conductivity than copper.

Moreover, as electric vehicle makers are trying to reduce the prices of vehicles without harming their quality, aluminum busbars are replacing the copper alternatives increasingly.

North America is likely to propel at a significant rate in the years to come. This is primarily because of the government's initiatives to reduce carbon emissions as well as the increase in the acceptance of EVs in this region.

It is because of the mounting development as well as acceptance of EVs, the automotive busbar industry will continue to grow in the years to come.