Global Thermoplastic Polyurethane market expected to record a CAGR of ~7% during the forecast period (2017-2028): Ken Research
What Is The Size Of Global Thermoplastic Polyurethane Industry?
Global Thermoplastic Polyurethane market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
Global Thermoplastic Polyurethane market is largely driven by the increasing usage of Thermoplastic Polyurethane in footwear, automotive, construction, and other industries.
Rising demand for flexible and biodegradable plastics in the footwear industry is one of the key factors responsible for the growth of the market. The widespread adoption of thermoplastic polyurethane by footwear manufacturers for producing soles for safety shoes due to their abrasion resistance, slip, and aesthetic properties accelerate the market growth.
Furthermore, the rise in the expansion of the automotive industry across the globe acts as one of the major factors driving the growth of the thermoplastic polyurethane market. The product is widely utilized in automobile components, such as seats, doors, vehicle wiring, attachment clips, and airbags, among others.
The major challenge faced by the market is the volatile prices of the raw materials used for making Thermoplastic Polyurethane. The high cost associated with TPU when compared to other conventional materials obstructs market growth.
COVID-19 had a negative influence on the Thermoplastic Polyurethane market growth and demand, owing to a worldwide halt in manufacturing operations.
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Global Thermoplastic Polyurethane Market By Type
The Global Thermoplastic Polyurethane market is segmented by Type into Polyester Polyether, Polycaprolactone.
The Polyester segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to its wide area of application in the engineering and construction sectors.
Polyester-based thermoplastic polyurethane provides resistance to oils, fuels, and water, due to which it is widely used in the building and construction industry.
Polycaprolactone segment is expected to grow with the highest CAGR, owing to its abrasion resistance with inherent toughness. The product is widely used in engineering applications due to its antimicrobial and mechanical properties.
Global Thermoplastic Polyurethane Market By Raw Material
The Global Thermoplastic Polyurethane Market is segmented by Raw Material into Polyols, Diisocyanate, Diols.
The diisocyanates segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to its wide applications in various end-use industries such as automotive, building & construction, healthcare, and aerospace.
Diisocyanates are a family of versatile building blocks that are used in the development of multiple polyurethane products such as bike helmets, vehicle impact-absorbing foam panels, and others.
Diisocyanates are reacted with natural oil polyols derived from vegetable oils for the development of polyurethane products containing functional diversification and renewable resource content.
Global Thermoplastic Polyurethane Market By Region
The Global Thermoplastic Polyurethane market is segmented by Region into North America, Europe, Asia- pacific and LAMEA.
The increasing demand from automotive, textile, and footwear manufacturers, thermoplastic polyurethane adhesives, and sealants are expected to witness growth in the region.
Rapid growth of the construction industry mainly in China and India on account of growing disposable income in the nation is expected to be a key factor driving the demand for polyurethane products in the region.
Global Thermoplastic Polyurethane Market By Application
The Global Thermoplastic Polyurethane market is segmented by Application into Extruded Products, Injection Molded Products, Adhesives, Others.
The extruded products segment held the largest market share in the global thermoplastic polyurethane market in 2021, as the extrusion process enhances the properties of TPU material and makes it suitable to be used in end-use industries.
TPU is a melt-processable and highly elastic thermoplastic elastomer. It is transparent and easily colored. Therefore, it is widely used for extruded products application.
Compounded TPUs are used in a wide range of applications where superior structural integrity is required, such as for hoses and tubes, conveyor belts, electrical wires, medical disposables, and Office Automation equipment connectors.
Global Thermoplastic Polyurethane Market By End-User
The Global Thermoplastic Polyurethane market is segmented by End-User into Footwear, Automotive, Construction, Aerospace, Energy & Power, Medical, Others.
The footwear segment held the largest market share in the global thermoplastic polyurethane market in 2021, owing to the rising demand for comfortable and durable shoes.
The Thermoplastic Polyurethane (TPU) sole is highly resistant to abrasion, and has a longer life and better resilience property than rubber soles, which makes this material most preferred among other polymers.
The automotive segment is expected to grow with the highest CAGR, owing to its wide applications in instrument panels, seats, airbags, doors, attachment clips, vehicle wiring, and anti-vibration panels.
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Key Topics Covered in the Report
- Snapshot of Global Thermoplastic Polyurethane Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Thermoplastic Polyurethane Market
- Historic Growth of Overall Global Thermoplastic Polyurethane Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Thermoplastic Polyurethane Industry
- Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Thermoplastic Polyurethane Market
- Future Market Forecast and Growth Rates of the Total Global Thermoplastic Polyurethane Market and Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Thermoplastic Polyurethane Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Major Companies Mentioned in the Report
- 3M
- BASF SE
- Coim Group
- Covestro AG
- Huntsman International LLC
- KURARAY CO., LTD.
- Tosoh Corporation
- Sumei Chemical Co. Ltd
- The Lubrizol Corporation
- Epaflex Polyurethanes Spa
Notable Emerging Companies Mentioned in the Report
- Omni Technologies
- Foster Polymer Distribution
- H.B. Fuller Company
- Kent Elastomer Products
- SHANDONG INOV POLYURETHANE CO., LTD.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Thermoplastic Polyurethane Manufacturers
- Thermoplastic Polyurethane Suppliers
- Polyurethane Manufacturers
- Polyols Suppliers
- Diisocyanate Suppliers
- Diols Suppliers
- Thermoplastic Polyurethane Distributors
- Emerging and Startup Thermoplastic Polyurethane Companies in the Market
- Different Types of Thermoplastic Polyurethane Institutes
- Government Ministries and Departments of Chemicals and Polymers
- Importers and Distributors of Thermoplastic Polyurethane
- Environmental Regulatory Authorities
- Investment Banks and PE Firms focused on Chemicals Sector
- Potential Entrants into Thermoplastic Polyurethane Industry
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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