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Thermoplastic Polyurethane Market - Global Industry Analysis

Thermoplastic Polyurethane Market By Injection Molding, Extrusion, Adhesives & Sealants And Paints & Coatings Applications For Automotive, Construction, Engineering, Footwear, Hose & Tube, Medical And Wire & Cable End-Users: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 23-Aug-2021 Category: Chemical & Materials Report Format : PDF Pages: 167 Report Code: ZMR-1284 Status : Published

The global Thermoplastic Polyurethane market accounted for USD 2.5 Billion in 2020 and is expected to reach USD 3.8 Billion by 2028, growing at a CAGR of around 4.9% between 2021 and 2028.

Description

Market Overview     

The global Thermoplastic Polyurethane market accounted for USD 2.5 Billion in 2020 and is expected to reach USD 3.8 Billion by 2028, growing at a CAGR of around 4.9% between 2021 and 2028.      

Burgeoning demand from the automotive, construction, and medical sectors will boost the expansion of the thermoplastic polyurethane market within the years ahead. Aside from this, massive product applications witnessed in extrusion, paints & coatings, injection molding, and adhesives & sealants will further augment the business sphere over the subsequent few years. Escalating global concerns associated with ecological damage as a result of the merchandise manufacture & use is predicted to obstruct the thermoplastic polyurethane market surge over the forthcoming years. Also, fluctuations within the staple costs can hamper the profitability of the business within the ensuing years. Nevertheless, the assembly of bio-based products is forecast to supply new growth opportunities for the thermoplastic polyurethane market within the near future, thereby normalizing the impact of hindrances on the market, reports the thermoplastic polyurethane market study.

Global Thermoplastic Polyurethane Market Size

COVID-19 Impact Analysis  

At the start of 2021, COVID-19 disease began to spread around the world, many people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and strike orders. COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period.

Growth Factors

The growing demand for TPU in the automotive and Hose & Tube industries is boosting the market. Polyester TPU is widely used in major industries owing to its properties, such as high tensile strength, good shock absorption, and resistance to cut, solvent, and microbial activity. Moreover,  urbanization and lifestyle, environment awareness, and consumer preferences towards a good range of quality products are the other secondary factors driving the thermoplastic polyurethane market.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

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. The footwear segment was the largest consumer of TPU in 2019, whereas, the automotive industry is projected to be the fastest-growing end-use industry during the forecast period.

Global Thermoplastic Polyurethane Market Share

Regional Analysis Preview  

Regionally, Asia Pacific has been leading the worldwide thermoplastic polyurethane market and is anticipated to continue on the dominant position within the years to return. Increase demand for the merchandise from the developing countries within the region and the flourishing automotive sector is that the main factor behind the dominance of the Asia Pacific thermoplastic polyurethane market. The high number of market players being headquartered in the Asia Pacific is another significant factor that's supporting the expansion of this regional thermoplastic polyurethane market.

Global Thermoplastic Polyurethane Market Regional Analysis

Key Market Players& Competitive Landscape

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.

The global Thermoplastic Polyurethane Market is segmented as follows:

By Application

  • Injection Molding
  • Extrusion
  • Adhesives & Sealants
  • Paints & Coatings

By End User

  • Automotive
  • Construction
  • Engineering
  • Footwear
  • Hose & Tube
  • Medical
  • Wire & Cable
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By End User
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Thermoplastic Pulyurethane Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Thermoplastic Pulyurethane Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Injection Mulding
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Extrusion
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Adhesives & Sealants
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Paints & Coatings
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Thermoplastic Pulyurethane Market – End-User Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End User, 2020 & 2028
    • 5.2. Automotive
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Construction
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Engineering
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Footwear
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Hose & Tube
      • 5.6.1. Market Size and Forecast, By Region (USD Billion)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.7. Medical
      • 5.7.1. Market Size and Forecast, By Region (USD Billion)
      • 5.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.8. Wire & Cable
      • 5.8.1. Market Size and Forecast, By Region (USD Billion)
      • 5.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.9. Others
      • 5.9.1. Market Size and Forecast, By Region (USD Billion)
      • 5.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.9.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Thermoplastic Pulyurethane Market – Regional Segment Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End User, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Application, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By End User, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Application, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By End User, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Application, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By End User, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End User, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Application, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By End User, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Application, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By End User, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Application, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By End User, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Application, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By End User, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Application, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By End User, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By End User, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End User, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Application, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By End User, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Application, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By End User, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Application, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By End User, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Application, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By End User, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Application, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By End User, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By End User, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End User, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Application, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By End User, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Application, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By End User, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Application, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By End User, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Application, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By End User, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Application, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By End User, 2016 – 2028
  • Chapter No. 7: Thermoplastic Pulyurethane Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Thermoplastic Pulyurethane Market: Company Market Share, 2019
      • 8.1.2. Global Thermoplastic Pulyurethane Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Thermoplastic Pulyurethane Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Thermoplastic Pulyurethane Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. API Plastics
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. BASF SE
    • 9.3. Bayer Material Science Ag
    • 9.4. Headway Pulyurethane Co. Ltd.
    • 9.5. Hexpul AB
    • 9.6. Huntsman Corporation
    • 9.7. Lubrizul Corporation
    • 9.8. Miracll Chemical Co. Ltd.
    • 9.9. Pulyone Corporation
    • 9.10. Economy Pulymers & Chemicals
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Methodology

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.   

Primary Research

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:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

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.

Models

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:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

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.

Thermoplastic-Polyurethane-Market

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.


Frequently Asked Questions

The global Thermoplastic Polyurethane Market was valued at USD 2.5 billion in 2020.

The global Thermoplastic Polyurethane Market is expected to reach USD 3.8 billion by 2028, growing at a CAGR of 4.9% between 2021 to 2028.

Some of the key factors driving the global thermoplastic polyurethane market growth are environmentally friendly properties, high consumer acceptance, high tensile strength, good shock absorption, and resistance to cut, solvent, and microbial activity.

APAC is projected to register the highest growth in the global TPU market during the forecast period. The demand for TPU is high in developing economies such as China and India. 

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.

 

 

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