Global Thermoplastic Polyurethane (TPU) Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Thermoplastic Polyurethane (TPU) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Thermoplastic Polyurethane (TPU) market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global thermoplastic polyurethane (TPU) market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group 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) falls within the thermoplastic elastomer category and is a polymer known for its versatility in applications due to its unique combination of characteristics. The process of combining diisocyanates with polyols forms this flexible and rubber-like polymer, highly elastic and capable of enduring repetitive stretching and bending without permanent deformation. TPU offers exceptional flexibility, making it a prime choice for applications demanding resilience and pliability. Moreover, it boasts high tensile strength and impressive tear resistance, ensuring durability and resilience against abrasion.
Global Thermoplastic Polyurethane (TPU) Market Trends and Drivers:
The escalating utilization of Thermoplastic Polyurethane (TPU) in the footwear sector for various components like outsoles, midsoles, heel counters, and toe caps is enhancing market growth globally. This adoption is primarily attributed to TPU’s ability to offer durability, flexibility, and resistance to abrasion, making it ideal for athletic shoes and hiking boots. Additionally, TPU finds wide-ranging applications in the automotive industry, encompassing both interior and exterior components such as instrument panels, door panels, seat covers, airbags, gaskets, and seals. The market growth is further propelled by the increasing sales of luxury vehicles. Moreover, the burgeoning use of TPU in the fabrication of medical devices and equipment is positively impacting the market.
Global Thermoplastic Polyurethane (TPU) Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report segmented the market on the basis of region, type, raw material, application and end use industry.
Type Insights:
- Polyester
- Polyether
- Polycaprolactone
The report has provided a detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the type. This includes polyester, polyether, and polycaprolactone. According to the report, polyester represented the largest segment.
Raw Material Insights:
- Polyols
- Diisocyanate
- Diols
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the raw material has also been provided in the report. This includes polyols, diisocyanate, and diols. According to the report, polyols accounted for the largest market share.
Application Insights:
- Extruded Products
- Injection Molded Products
- Adhesives
- Others
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the application has also been provided in the report. This includes extruded products, injection molded products, adhesives, and others. According to the report, extruded products accounted for the largest market share.
End Use Industry Insights:
- Construction
- Automotive
- Footwear
- Medical
- Electrical and Electronics
- Heavy Engineering
- Others
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the end use industry has also been provided in the report. This includes construction, automotive, Footwear, medical, electrical and electronics, heavy engineering, and others. According to the report, footwear accounted for the largest market share.
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
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for thermoplastic polyurethane (TPU). Some of the factors driving the Asia Pacific thermoplastic polyurethane (TPU) market included the growing demand for high performance materials, increasing demand in the automotive industry, rising utilization of TPU in footwear industry, etc.
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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