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(Transportation-News.com, June 29, 2024 ) The report " Thermoplastic Polyurethane (TPU) Market Raw Material (Diisocyanates, Polyols, Diols), Type (Polyester, Polyether, Polycaprolactone), End-Use Industry (Footwear, Industrial, Machinery, Automotive, Electronics, Medical), and Region - Global Forecast to 2027" The TPU market is projected to reach USD 4.6 billion by 2027, at a CAGR of 7.1% from USD 3.2 billion in 2022.
Browse in-depth TOC on "Thermoplastic Polyurethane (TPU) Market”
272 - Market Data Tables
45 - Figures
242 - Pages
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"Diisocyanate was the largest raw material for TPU market in 2021, in terms of value"
Diisocyanate accounted for the largest market share in the global TPU market, in terms of value, in 2021. The segment is also projected to grow at the highest CAGR, in terms of value, during the forecast period, as it is highly reactive with polyols, resulting in polyurethane formation, easily. MDI-based TPU exhibits excellent mechanical properties, such as high tensile strength, abrasion resistance, and elasticity, making it suitable for various applications in industries such as automotive, footwear, and industrial coatings.
"Footwear was the largest end-use industry for TPU market in 2021, in terms of value"
Footwear application accounted for the largest market share in the global TPU market, in terms of value, in 2021. However, automotive segment is projected to grow at highest CAGR, in terms of value, during the forecast period. The significant share of TPU in the footwear segment is due to its excellent properties such as abrasion resistance, durability, and flexibility. TPU is commonly used in shoe soles, heels, and toe caps, providing comfort, shock absorption, and slip resistance. Its versatility, customization options, and cost-effectiveness have also contributed to its popularity in the footwear industry.
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"Asia Pacific was the largest market for TPU in 2021, in terms of value."
Asia Pacific was the largest market for global TPU market, in terms of value, in 2021. China is the largest market in Asia Pacific. It is projected to witness second-highest growth during the forecast period considering of high usage of TPU in the region for automotive and medical application. The major players operating in Asia pacific region includes Wanhua Chemical Group Co. Ltd. (China) and Mitsui Chemicals, Inc. (Japan), among others.
Thermoplastic Polyurethane (TPU) Market Key Players
The key players in this market BASF SE (Germany), The Lubrizol Corporation (US), Covestro AG (Germany), Huntsman Corporation (US), Wanhua Chemical Group Co. Ltd. (China), American Polyfilm, Inc. (US), Epaflex Polyurethanes SpA (Italy), COIM Group (Italy), Mitsui Chemicals, Inc. (Japan), and Avient Corporation (US). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of TPU have opted for new product launches to sustain their market position.
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