Global thermoplastic polyurethane market will increase from USD 1.93 Billion in 2016 to USD 2.84 Billion by 2022, growing at a CAGR of 6.7% between 2017 and 2022.
The report covers forecast and analysis for the thermoplastic polyurethane market on a global and regional level. The study provides historic data of 2014 to 2016 along with a forecast from 2017 to 2022 based on both volume (Kilo Tons) and revenue (USD Billion). The study includes drivers and restraints for the thermoplastic polyurethane market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the thermoplastic polyurethane market on a global level.
In order to give the users of this report a comprehensive view on the thermoplastic polyurethane market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the thermoplastic polyurethane market has also been included. The study encompasses a market attractiveness analysis, wherein segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view on the thermoplastic polyurethane market by segmenting the market based on applications and end-users. Based on applications, the global thermoplastic polyurethane market is segmented into injection molding, extrusion, adhesives & sealants, and paints & coatings. The end-user segments included in this report are automotive, construction, engineering, footwear, hose & tube, medical and wire & cable. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2022. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global thermoplastic polyurethane market. Key players profiled in the report include API Plastics, BASF SE, Bayer Material Science Ag, COIM, Headway Polyurethane Co. Ltd., Hexpol AB, Huntsman Corporation, Lubrizol Corporation, Miracll Chemical Co. Ltd. and Polyone Corporation.
Global Thermoplastic Polyurethane Market: Application Segment Analysis
Global Thermoplastic Polyurethane Market: End-User Segment Analysis
Global Thermoplastic Polyurethane Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Thermoplastic Polyurethane market. Zion Research has collected and analyzed key data belong to the global Thermoplastic Polyurethane market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Thermoplastic Polyurethane across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Thermoplastic Polyurethane industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Thermoplastic Polyurethane market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Thermoplastic polyurethane market is a rapidly growing industry with demand from various regions of the world owing to its wide range of applications in various end-user industries. Polyurethanes are one of the most adaptable plastic materials. The nature of the chemistry permits polyurethanes to be molded into different shapes and to enhance industrial and consumer products. Its properties include elasticity, transparency, and resistance to oil, grease, and abrasion.
The global thermoplastic polyurethane (TPU) market is expected to witness significant growth owing to increasing demand from the automotive sector. Increasing application in footwear is also expected to propel the growth of the global thermoplastic polyurethane market within the forecast period. The leading market players have been adopting thermoplastic polyurethanes in their product to enhance the comfort of the footwear. In addition, application of thermoplastic polyurethanes in medical is also expected to boost the growth of the TPU market in the coming years. However, the growing environmental concerns with the manufacture and usage of thermoplastic polyurethanes are expected to be major restraints for the global thermoplastic polyurethane market. Furthermore, instability in the prices of raw materials could also hinder the growth of the thermoplastic polyurethane market. However, development of bio-based alternatives is expected to create more opportunities in the thermoplastic polyurethanes market in the coming years.
The global thermoplastic polyurethane market can be segmented based on their applications and end-users. Based on their applications, they are segmented into injection molding, extrusion, adhesives & sealants, and paints & coatings. The extrusion segment dominated the market in 2016 and is expected to witness significant growth within the forecast period. Injection molding and sealants & adhesives accounted for the second and third highest share respectively of the global thermoplastic polyurethanes market in 2016.
On the basis of end-users, the global thermoplastic polyurethanes market is further segmented into automotive, construction, engineering, footwear, hose & tube, medical and wire & cable. The automotive segment accounted for the largest market share among the end-users in 2016 and is expected to witness significant growth owing to the development and growth of the automotive industry across the globe. Key market players in the industry have been investing in research & development to explore more applications of thermoplastic polyurethanes. Footwear segment is also expected to grow at a significant pace owing to the adoption of TPU’s in footwear by the leading market players. For example, Adidas has begun to use thermoplastic polyurethanes in their “boost” range of products in order to improve comfort and durability. The medical end-user segment is also expected to witness significant growth within the forecast period owing to the replacement of PVC with TPU.
Asia Pacific accounted for most of the global market share and is expected to grow in light of rising demand from the emerging economies in the region. The cost effectiveness factor also plays a major role in global key players setting up their facilities in this region. Europe accounted for the second largest share of the global thermoplastic polyurethanes market and is expected to grow in light of demand from the automotive sector in the region.
The key players in this industry are API Plastics, BASF SE, Bayer Material Science Ag, COIM, Headway Polyurethane Co. Ltd., Hexpol AB, Huntsman Corporation, Lubrizol Corporation, Miracll Chemical Co. Ltd., Polyone Corporation, Taiwan Sheen Soon and Wanhua Chemical Group Co. Ltd. among others.