The global thermoplastic polyurethane (TPU) market size reached US$ 2.7 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028. The growing utilization of TPU-based sealants and adhesives, increasing sales of biodegradable plastic, and rising need to produce automotive components represent some of the key factors driving the market.
Thermoplastic polyurethane (TPU) refers to a melt-processable thermoplastic elastomer that is manufactured by extrusion, injection, blow and compression molding equipment. It is widely available as polyester, polyether, and polycaprolactone and has good tensile strength and high load bearing capacity. It is lightweight, transparent, flexible, highly durable, non-toxic, and resistant to oil, grease, abrasion, high-energy radiation, ultraviolet (UV) rays, weather. It is environmentally friendly, recyclable, and can be soft as a rubber or hard as rigid plastic. It is capable of providing many combinations due to its physical properties and flexibility. It can be easily washed, sterilized, welded, painted, and die-cut while having high damping capacity. As a result, thermoplastic polyurethane (TPU) is employed in the automotive, construction, medical, textiles, and electrical and electronics industries across the globe.
Thermoplastic polyurethane (TPU) refers to a melt-processable thermoplastic elastomer that is manufactured by extrusion, injection, blow and compression molding equipment. It is widely available as polyester, polyether, and polycaprolactone and has good tensile strength and high load bearing capacity. It is lightweight, transparent, flexible, highly durable, non-toxic, and resistant to oil, grease, abrasion, high-energy radiation, ultraviolet (UV) rays, weather. It is environmentally friendly, recyclable, and can be soft as a rubber or hard as rigid plastic. It is capable of providing many combinations due to its physical properties and flexibility. It can be easily washed, sterilized, welded, painted, and die-cut while having high damping capacity. As a result, thermoplastic polyurethane (TPU) is employed in the automotive, construction, medical, textiles, and electrical and electronics industries across the globe.
Thermoplastic Polyurethane (TPU) Market Trends:
Presently, the rising adoption of TPU in the automotive industry to produce various automobile components, such as airbags, doors, bumper, seats, vehicle wiring and antivibration panels, and attachment clips, represents one of the key factors strengthening the growth of the market. Besides this, the growing utilization of TPU in the footwear industry to manufacture anti-slip and abrasion-resistance soles is positively influencing the market. In addition, the increasing demand for biodegradable and eco-friendly plastics is offering lucrative growth opportunities to industry investors. Apart from this, the rising adoption of TPU as a substitute for PVC in various medical applications, such as mattresses, dental materials, and gel shoe orthotics, is impelling the growth of the market. Moreover, governing agencies of various countries are encouraging the adoption of environmentally friendly products that do not harm the environment and decrease carbon footprint, which is offering a positive market outlook. This, coupled with the increasing employment of TPU to manufacture conveyor belts, electrical wires, power cable sheathing, equipment connectors, and drive belts, is supporting the growth of the market. In addition to this, the rising utilization of TPU-based sealants and adhesives in several industries due to high green strength is contributing to the growth of the market. Furthermore, the increasing adoption of TPU in textile products to produce heat-sealable fabrics is strengthening the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global thermoplastic polyurethane (TPU) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, raw material, application and end use industry.Type Insights:
- Polyester
- Polyether
- Polycaprolactone
Raw Material Insights:
- Polyols
- Diisocyanate
- Diols
Application Insights:
- Extruded Products
- Injection Molded Products
- Adhesives
- Others
End Use Industry Insights:
- Construction
- Automotive
- Footwear
- Medical
- Electrical and Electronics
- Heavy Engineering
- Others
Regional Insights:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global thermoplastic polyurethane (TPU) market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include American Polyfilm Inc., BASF SE, Coim Group, Covestro AG, Epaflex Polyurethanes Spa, Hexpol AB, Huntsman International LLC, Kuraray Co. Ltd., Mitsui Chemicals Inc., Sumei Chemical Co. Ltd., The Lubrizol Corporation (Berkshire Hathaway Inc.), Wanhua Chemical Group Co. Ltd.., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global thermoplastic polyurethane (TPU) market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global thermoplastic polyurethane (TPU) market?
- What is the impact of each driver, restraint, and opportunity on the global thermoplastic polyurethane (TPU) market?
- What are the key regional markets?
- Which countries represent the most attractive thermoplastic polyurethane (TPU) market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the thermoplastic polyurethane (TPU) market?
- What is the breakup of the market based on the raw material?
- Which is the most attractive raw material in the thermoplastic polyurethane (TPU) market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the thermoplastic polyurethane (TPU) market?
- What is the breakup of the market based on the end use industry?
- Which is the most attractive end use industry raw material in the thermoplastic polyurethane (TPU) market?
- What is the competitive structure of the global thermoplastic polyurethane (TPU) market?
- Who are the key players/companies in the global thermoplastic polyurethane (TPU) market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Thermoplastic Polyurethane (TPU) Market
6 Market Breakup by Type
7 Market Breakup by Raw Material
8 Market Breakup by Application
9 Market Breakup by End Use Industry
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- American Polyfilm Inc.
- BASF SE
- Coim Group
- Covestro AG
- Epaflex Polyurethanes Spa
- Hexpol AB
- Huntsman International LLC
- Kuraray Co. Ltd.
- Mitsui Chemicals Inc.
- Sumei Chemical Co. Ltd.
- The Lubrizol Corporation (Berkshire Hathaway Inc.)
- Wanhua Chemical Group Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2.7 Billion |
| Forecasted Market Value ( USD | $ 3.9 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
