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Flourishing Automotive Sector Driving Global Thermoplastic Polyurethane Films Market

Blog Description

Thermoplastic polyurethane (TPU) are a highly useful class of polyurethane plastics with properties such as transparency, elasticity, and resistance to abrasion, grease, and oil. For these properties, TPU films find applications in several industries, from automotive for instrument panels, levers, and sensors, and to footwear shoe sole. Moreover, TPU are now increasingly used in medical sector for packaging and other purposes. Furthermore, with research and development in this sector has introduced new additives to improve product specifications. For instance, bio-based raw materials are now frequently used for the production of TPU films. On the other hand, stringent environmental regulations pertaining to hazardous raw materials is restricting its usage from reaching its full potential. Agencies such as OSHA, REACH, and EPA have made registration mandatory for the vendors operating in the market.

Browse the full Global Thermoplastic Polyurethane Films Market Report:

According to a recent report by Transparency Market Research (TMR), the global thermoplastic polyurethane film market had an opportunity worth US$286.8 mn in 2015, which will rise at a significant CAGR of 6.8% during the forecast period of 2016 to 2024, reaching a valuation of US$516.9 mn by the end of 2024.

Thriving Building and Construction Industry Augmenting Demand

By end-use industries, the global TPU films market is categorized into automotive, building and construction, aerospace, footwear, furniture, energy, and others including flexible packaging, medical and healthcare, and recreation. In comparision to other plastic and elastomer materials, thermoplastic polyurethane have excellent non-thrombogenic behavior and the materials soften slightly at body temperature. This allows the products such as catheters to remain strong enough for insertion but also soft enough at the same time to be comfortable for the patient. Out of the top end-user industries, the automotive sector serves the maximum demand, but the TMR report projects the segment of building and construction to surge at a faster rate during the forecast period. This is a reflection of rapid urbanization in several emerging economies such as India, China, Malaysia, and South Korea. These economies are increasingly spending to improve infrastructure.

Apparently, Asia Pacific is the most lucrative regional segment of global thermoplastic polyurethane films market. The European thermoplastic polyurethane films market has suffered significantly from the recent economic recession, although the application of TPU films in the sports sector is favoring the market expansion. By product type, the report bifurcates the market into polyester TPU, polycaprolactone TPU, and polyether TPU. Among these, polyester TPU accounts for the maximum demand, although polycaprolactone TPU is also anticipated to exhibit strong growth rate.

Fragmented Competitive Landscape

The global thermoplastic polyurethane films market is highly fragmented in nature, with several prominent and domestic players with reasonable presence. Mergers and acquisitions is the primary strategy adopted by these players to add to their regional outreach and strengthen their supply chain. The TMR report identifies a few leading players in this market, such as Covestro AG, BASF SE, The Lubrizol Corporation, Tosoh Corporation, Huntsman Corporation, Shanghai Lejoin Polyurethane Industrial Co., Ltd., Huafon Group, and Wanhua Chemical Group Co., Ltd.

Browse the full Press Release of Global Thermoplastic Polyurethane Films Market at :

In the past, polyvinyl chloride (PVC) was the preferred materials for several purposes, but now have been successfully replaced by TPU, although environmental concerns still have not been addressed completely, which is restricting this material from attaining its full potential.