The global thermoplastic polyurethane (TPU) market reached a value of US$ 2.47 billion in 2021. Looking forward, the market is projected to reach a value of US$ 3.67 billion by 2027, exhibiting a CAGR of 6.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Thermoplastic polyurethane (TPU) refers to a unique type of plastic that bridges the gap between rubbers and plastics. It is a transparent, melt-processable and highly elastic thermoplastic elastomer produced through a polyaddition reaction. It is widely used in specialty molded parts, footwear, adhesives, hose, tubes, film, sheets and wire and cable jacketing. TPU exhibits transparency, high elasticity, resistance to high-energy radiation, abrasion, solvents, oil and grease, string mechanical properties and can be as soft as rubber or as hard as rigid plastics. As compared to polyvinyl chloride (PVC), TPU is more environment-friendly, biodegradable and fully recyclable. Consequently, it finds extensive application across the automotive, construction, medical, electrical and electronics industries.
Rapid expansion in the automotive industry across the globe is creating a positive outlook for the market. TPU is widely used in automobile components, such as instrument panels, seats, airbags, doors, attachment clips, vehicle wiring and anti-vibration panels. Additionally, the widespread product adoption by footwear manufacturers to produce soles for safety shoes due to their slip, abrasion resistance and aesthetic properties are favoring the market growth. Moreover, the introduction of new extrusion technology that includes a new downstream system for inline cutting and curing of TPU medical tubes and reducing the post-extrusion shrinkage are providing an impetus to the market growth. In line with this, the increasing product employment in conveyor belts, drive belts, electrical wires, power cable sheathing, equipment connectors and medical disposables due to their superior structural integrity, is positively impacting the market growth. Other factors, including the development of bio-based products and the implementation of various government initiatives to switch to eco-friendly plastics, are anticipated to drive the market further.
This report provides an analysis of the key trends in each sub-segment of the global thermoplastic polyurethane (TPU) market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on type, raw material, application and End-use industry.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.) and Wanhua Chemical Group Co. Ltd.
Thermoplastic polyurethane (TPU) refers to a unique type of plastic that bridges the gap between rubbers and plastics. It is a transparent, melt-processable and highly elastic thermoplastic elastomer produced through a polyaddition reaction. It is widely used in specialty molded parts, footwear, adhesives, hose, tubes, film, sheets and wire and cable jacketing. TPU exhibits transparency, high elasticity, resistance to high-energy radiation, abrasion, solvents, oil and grease, string mechanical properties and can be as soft as rubber or as hard as rigid plastics. As compared to polyvinyl chloride (PVC), TPU is more environment-friendly, biodegradable and fully recyclable. Consequently, it finds extensive application across the automotive, construction, medical, electrical and electronics industries.
Thermoplastic Polyurethane (TPU) Market Trends
Rapid expansion in the automotive industry across the globe is creating a positive outlook for the market. TPU is widely used in automobile components, such as instrument panels, seats, airbags, doors, attachment clips, vehicle wiring and anti-vibration panels. Additionally, the widespread product adoption by footwear manufacturers to produce soles for safety shoes due to their slip, abrasion resistance and aesthetic properties are favoring the market growth. Moreover, the introduction of new extrusion technology that includes a new downstream system for inline cutting and curing of TPU medical tubes and reducing the post-extrusion shrinkage are providing an impetus to the market growth. In line with this, the increasing product employment in conveyor belts, drive belts, electrical wires, power cable sheathing, equipment connectors and medical disposables due to their superior structural integrity, is positively impacting the market growth. Other factors, including the development of bio-based products and the implementation of various government initiatives to switch to eco-friendly plastics, are anticipated to drive the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global thermoplastic polyurethane (TPU) market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on type, raw material, application and End-use industry.
Breakup by Type:
- Polyester
- Polyether
- Polycaprolactone
Breakup by Raw Material:
- Polyols
- Diisocyanate
- Diols
Breakup by Application:
- Extruded Products
- Injection Molded Products
- Adhesives
- Others
Breakup by End-use Industry:
- Construction
- Automotive
- Footwear
- Medical
- Electrical and Electronics
- Heavy Engineering
- Others
Breakup by Region:
- 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 competitive landscape of the industry has also been examined along with the profiles of the key players being 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.) and Wanhua Chemical Group Co. Ltd.
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 has been the impact of COVID-19 on the global thermoplastic polyurethane (TPU) market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the raw material?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the End-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global thermoplastic polyurethane (TPU) market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Thermoplastic Polyurethane (TPU) Market
What is the estimated value of the Global Thermoplastic Polyurethane (TPU) Market?
What is the growth rate of the Global Thermoplastic Polyurethane (TPU) Market?
What is the forecasted size of the Global Thermoplastic Polyurethane (TPU) Market?
Who are the key companies in the Global Thermoplastic Polyurethane (TPU) Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 2.47 Billion |
| Forecasted Market Value ( USD | $ 3.67 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
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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