"Driven by diverse applications ranging from building and construction sectors to intricate footwear designs, the polyurethane (PU) film market is poised for significant growth. This report offers valuable insights that will empower your decision-making in this burgeoning market. Capitalize on the rising demand from various end-user applications and potential opportunities linked to the advent of bio-based TPU.
Designed specifically for top-level decision-makers, this report addresses key detriments and contributors to market growth. Understanding the impact of raw materials pricing, or the increasing usage in the footwear and apparel industry, could spell the difference between trailing and leading. With the Asia-Pacific region positioned as the forefront player in this market, this report provides a clear view of how to best strategize and navigate through this dynamic marketplace. Look beyond the horizon and identify the promising opportunities manifested in the current Polyurethane Film Market trends."
The COVID-19 outbreak across the globe severely impacted the polyurethane (PU) Film market in various sectors. Stoppage or slowdown of projects, restrictions on movements, production halts, and labor shortages to contain the COVID-19 outbreak have led to a decline in the polyurethane market growth. However, it recovered significantly in 2021, owing to rising consumption from various end-use applications, including building and construction and other end-user industries.
- Over the short term, increasing usage in the footwear and apparel industry is a significant factor driving the market's growth.
- However, the rising prices of raw materials are a key factor anticipated to restrain the target industry growth over the forecast period.
- Nevertheless, the potential for bio-based TPU is likely to create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region is expected to dominate the polyurethane (PU) films market and is also likely to witness the highest CAGR during the forecast period.
Polyurethane Film Market Trends
Footwear and Apparel Segment to Dominate the Market
- TPUs (thermoplastic polyurethanes) are incredibly durable and flexible plastics. The abrasion resistance, shock absorption, grip on slick surfaces, and low weight of this high-quality material are unrivalled.
- Foamed TPU film is ideal for use as a non-slip, wear-resistant protective covering for the shoe outside, including safety shoes, alpine boots, and hiking boots.
- TPU keeps its unique qualities even when wet, making it a popular material for orthopaedic insoles.
- According to World Footwear, the quantity of footwear produced worldwide reached 22.2 billion pairs and registered growth compared to 20.5 billion pairs in 2020.
- As per the Federal Customs Service of Russia, the import footwear volume in Russia reached 310.85 thousand pairs and registered growth compared to 256.08 thousand pairs in 2020.
- Reebok and Addidas are some of the top brands in the footwear market. According to Addidas, net sales of the Reebok brand worldwide were valued at EUR 1,767 million (USD 1,878.75 million) in 2021.
- The footwear industry is growing at a moderate level across the world. Many major footwear companies are shifting their manufacturing facilities to Asia due to cheap labor availability and the increasing demand in developing countries of the Asia-Pacific.
- All the above factors are expected to drive the market for wood-based panels in the coming years.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region holds a significant share of the PU film market globally and is expected to dominate during the forecast period.
- Asia-Pacific includes the most extensive construction market, which India, China, and Southeast Asian countries lead.
- According to the National Bureau of Statistics of China, the market value of China's construction industry was valued at USD 1,117.42 billion in 2021 and registered a growth rate of 6.5% compared to USD 1,049.19 billion in 2020.
- China dominates the global footwear industry and is the world's largest manufacturer and exporter. China exported nearly 7.9 billion pairs of shoes and boots in the first 11 months of 2021. The footwear industry faced a significant decline in the past years. However, the industry is projected to grow faster during the forecast period.
- India's textile sector is one of the oldest industries in the Indian economy. The industry is highly varied and consists of hand-spun and hand-woven textiles sectors and capital-intensive sophisticated mills.
- The exports of textiles stood at USD 22.89 billion between April 2021 and October 2021. According to India Brand Equity Foundation (IBEF), the textile industry in the country is expected to reach USD 209 billion over the next six years.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.
Polyurethane Film Market Competitor AnalysisThe polyurethane (PU) film market is consolidated. Some of the players in the market include Covestro AG, SWM, Gerlinger Industries GmbH, DingZing Advanced Materials Inc., and Okura Industrial Co. Ltd.
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Table of Contents1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Usage in the Footwear and Apparel Industry
4.1.2 Other Drivers
4.2.1 The Rising Prices of Raw Materials
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Chemical Class
5.2 End-user Industry
5.2.1 Footwear and Apparel
5.2.2 Medical Supplies
5.2.3 Sports Equipment
5.2.4 Building and Construction
5.2.5 Other End-user Industries
18.104.22.168 South Korea
22.214.171.124 ASEAN Countries
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 American Polyfilm Inc.
6.4.3 Avery Dennison Corporation
6.4.4 Covestro AG
6.4.5 Ding Zing Advanced Materials Inc.
6.4.6 Gerlinger Industries GmbH
6.4.7 Huntsman International LLC
6.4.8 Okura Industries Co. Ltd
6.4.9 Permali Gloucester Ltd
6.4.10 Schweitzer-Mauduit International Inc.
6.4.11 The Lubrizol Corporation
6.4.12 Wiman Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential for Bio-based TPU
A selection of companies mentioned in this report includes:
- American Polyfilm Inc.
- Avery Dennison Corporation
- Covestro AG
- Ding Zing Advanced Materials Inc.
- Gerlinger Industries GmbH
- Huntsman International LLC
- Okura Industries Co. Ltd
- Permali Gloucester Ltd
- Schweitzer-Mauduit International Inc.
- The Lubrizol Corporation
- Wiman Corporation