Press release
Thermoplastic Polyurethane Market Demand for Automotive Sector by Latest Trend, Share Analysis, Growth Application and Global Forecast to 2025
Thermoplastic Polyurethane Market – Industry Trends and Forecast to 2025
Global Thermoplastic Polyurethane Market is expected to reach 2,607.35 thousand tonnes by 2025 from 1,630.00 thousand tonnes in 2017, at a CAGR of 6.2% in the forecast period 2018 to 2025.
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The key market players for Global Thermoplastic polyurethanes Market are listed below:
• Covestro AG
• Huntsman International LLC
• BASF SE
• American Polyfilm, Inc.
• API (Trinseo)
• Hexpol AB
• Kuraray Co. Ltd
• Ensinger
• The Lubrizol Corporation
• Polyone
• Wanhua Chemical Group Co., Ltd.
• Coim Group
• Headway Group
• Miracll Chemicals Co., Ltd
Key Drivers: Global Thermoplastic Polyurethane Market
Some of the major factors driving the market for global thermoplastic polyurethane market are growing demand of thermoplastic polyurethane in automotive sector, scope of TPU innovation in footwear sector, growing application in medical sector.
Unstable raw material prices may hinder the market growth Many companies are increasingly focusing on technological advancement of thermoplastic polyurethane in order to strengthen their product portfolios in the thermoplastic polyurethane market.
Key Points: Global Thermoplastic Polyurethane Market
Covestro AGis going to dominate the global thermoplastic polyurethane market following with Huntsman International LLC and BASF SE Some of the major players operating in this market are American Polyfilm, Inc., API (Trinseo), Hexpol AB, Kuraray Co. Ltd, The Lubrizol Corporation, Polyone, Wanhua Chemical Group Co., Ltd., Coim Group, Headway Group, Miracll Chemicals Co., Ltd among others.
The global thermoplastic Polyurethane market is expected to reach 35 thousand tonnes by 2025 from USD 1,630.00 million in 2017, at a CAGR of 6.2% in the forecast period 2018 to 2025.
The footwear is expected to dominate the thermoplastic polyurethane market with 33.1% market share, growing at a CAGR 7.1% in the forecast period 2018 to 2025.
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The market is further segmented into:
• Product type
• Raw Material
• End-user
• Geography
The global thermoplastic polyurethane market is segmented on the basis of product type, raw material end-user and geography. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.
On the basis of product type, the global thermoplastic polyurethane market is segmented into Polyester, Polyether, Polycaprolactone. Global thermoplastic polyurethane market is dominated by polyester with 59.9% market share in 2018, growing at a CAGR of 6.2% in the forecast period.
On the basis of end users, the global thermoplastic polyurethane market is classified into footwear, engineering, automotive, hose and tubing, building and construction, wires and cables and medical. Among these, in 2018 footwear segment dominated the market and the trend is expected to remain the same till 2025. Footwear is further sub segmented into shoes & soles and slippers. Engineering is further sub segmented into electronic devices and machinery parts. Automotive is further sub segmented into interior body parts and exterior body parts.
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