Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The TPU market is projected to reach USD 4.6 billion in 2027 at a CAGR of 7.1% during the forecast period.
The increasing consumption of different types of TPU has led to the increased usage of TPU for the manufacture of products for various applications. TPU is used in the footwear industry from upper yarns, midsole/foam & cushioning, outsoles, eyelets, heel cups, logos, and shanks & toe caps in order to meet the demands for high performance.
Extrusion segment is expected to account for the second-largest share in 2021
The extrusion process is used for a wide range of products, including tubing for medical devices, automotive components, and industrial equipment; profiles for window seals, weatherstripping, and gaskets; protective films, laminates, and packaging, sheets for footwear, protective gear, and automotive components; coating for electronic components, textiles, and leather finishing. Companies such as Covestro, Lubrizol, Huntsman, and BASF are using extrusion technology to produce footwear, protective gear, automotive components, protective films, textiles, and leather finishing goods, thereby increasing its market demand.
Polyols is expected to be the second-fastest growing raw material for TPU market during the forecast period, in terms of value.
Polyols are used as a key raw material in the production of TPU, which are in high demand due to their versatility and performance benefits in various end-use industries. Additionally, the growing demand for sustainable and eco-friendly materials is also driving the demand for polyols in the TPU market.
Based on region, Asia Pacific region was the largest market for TPU in 2021, in terms of value.
Asia Pacific was the largest market for global TPU, in terms of value, in 2021. The market in Asia Pacific is driven by innovation. Industrial expansion and technological developments in the region are driving the consumption of TPU. The growth of the market is also expected to be supported by the improving global economy. China is the key market in Asia Pacific. However, India is expected to witness high growth during the forecast period because of the high use of TPU in various end-use industries in the region.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.
Market Dynamics
Drivers
- Increasing Demand from Footwear Industry
- Rising Demand from Automotive and Medical Industries
- Recovery from Impact of COVID-19 and Growing Penetration of Evs
- Replacement of Conventional Materials with TPU
Restraints
- Higher Cost of TPU Than Conventional Materials
Opportunities
- Substitute for Pvc in Medical Applications
- Emerging Market for Biobased TPU
Challenges
- Volatility in Raw Material Prices
- Environmental Concerns of TPU
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 234 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $3.2 billion |
| Forecasted Market Value (USD) by 2027 | $4.6 billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 TPU Market, by Technology
6.1 Introduction
6.2 Injection Molding
6.2.1 Versatile and Cost-Effective Process
6.3 Extrusion
6.3.1 Used for a Wide Range of Products
6.4 Blow Molding
6.4.1 Widely Used Process in Packaging Industry
6.5 Solvent Casting
6.5.1 Enables Manufacturing High-Quality and High-Performance Products
6.6 Lamination
6.6.1 TPU Laminates Have Wide Range of Properties
6.7 Others
7 TPU Market, by Raw Material
7.1 Introduction
7.2 Polyols
7.2.1 Water Solubility, Reactivity, and Compatibility Properties
7.3 Diisocyanates
7.3.1 Provide Reactivity and Curing Properties to TPU
7.4 Diols
7.4.1 Used to Make TPU Tougher
7.5 Adipic Acid
7.5.1 Helps Produce High-Quality and High-Performance Polymer
8 TPU Market, by Type
8.1 Introduction
8.2 Polyester
8.2.1 Cost-Effectiveness and High Resistance Property to Drive Market
8.3 Polyether
8.3.1 Superior Impingement Abrasion Resistance and Good Hydrolytic Stability to Boost Market
8.4 Polycaprolactone
8.4.1 Inherent Toughness and Good Abrasion Resistance to Drive Market
8.5 Polycarbonate-Based TPU
8.5.1 High Impact, Chemical, and Temperature Resistance to Drive Market
9 TPU Market, by End-Use Industry
9.1 Introduction
9.2 Footwear
9.2.1 Demand for Comfort, Performance, and Durability to Drive Market
9.2.2 Shoes
9.2.3 Soles
9.2.4 Slippers
9.3 Industrial Machinery
9.3.1 High Abrasion Resistance and Impact Strength in Demanding Situations to Drive Market
9.3.2 Seals & Gaskets
9.3.3 Wheels & Rollers
9.3.4 Hoses & Tubes
9.3.5 Belts & Profiles
9.4 Automotive & Transportation
9.4.1 High-Performance Materials Such as TPU and Cfrtp to Boost Market
9.4.2 Interior Automotive Parts
9.4.3 Exterior Automotive Parts
9.5 Electronics
9.5.1 Flame Retardant Properties of TPU to Fuel Market
9.5.2 Wires & Cables
9.5.3 Telecommunications
9.5.4 Electrical Devices
9.6 Medical
9.6.1 Resistance to Microbial Activity and Plasticizer-Free Property to Drive Market
9.6.2 Catheters
9.6.3 Medical Devices
9.6.4 Wound Care Products
9.7 Others
9.8 Limitations & Risks Associated with TPU Market
10 TPU Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Alliance Polymer and Services
- American Polyfilm, Inc.
- Avient Corporation
- Basf Se
- Coim Group
- Covestro Ag
- Epaflex Polyurethanes Spa
- Great Eastern Resins Industrial Co. Ltd.
- Hexpol Tpe
- Huntsman Corporation
- Kurmy Corporations Private Limited
- Miracll Chemicals Co. Ltd.
- Mitsui Chemicals, Inc.
- Novotex Italiana S.P.A.
- Ravago
- San Fang Chemical Industry Co. Ltd.
- Sanyo Corporation of America
- Shandong Inov Polyurethane Co. Ltd.
- Songwon Industrial Group
- Taiwan Pu Corporation
- Teknor Apex Company
- The Kuraray Group
- The Lubrizol Corporation
- Ultimaker
- Wanhua Chemical Group Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/a1w0ff
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