Thermoplastic Polyurethane Market Trend with Global Foresight 2023 and Leading Players - API Plastics, BASF SE, Bayer Material Science AG, COIM, Headway Polyurethane, Hexpol AB, Huntsman, Lubrizol, Miracll Chemical, Wanhua Chemical Group

Thermoplastic Polyurethane Market – Overview

Thermoplastic Polyurethane find application in numerous end use industries such as engineering, construction, automotive, medical, and others. The TPU market is expected to witness significant growth owing to their unique properties along with excellent usage in various end use industries specifically in building & construction, medical, and others. Among the end use industries segment, building & construction is estimated to grow tremendously followed by automotive. The factors attributed to the segmental growth are rapid urbanization in emerging economies and high adoption rate in various end use industries. Moreover, rising automotive production base in emerging countries coupled with burgeoning need for high quality Thermoplastic Polyurethane Market is anticipated to fuel the growth of the market over the forecast period.

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Geographically, Asia Pacific accounted for the largest market share for Thermoplastic Polyurethane in 2016, followed by Europe which is further trailed by North America. In North America the Thermoplastic Polyurethane Market is predicted to exhibit steady growth over the assessment period due to substantial growth of medical sector in this region. Asia Pacific is expected to witness significant growth over the forecast period in Thermoplastic Polyurethane Market due to rising application of TPU in footwear, medical, automotive & transportation industries. In Europe, thermoplastic polyurethane market is estimated to register medium growth owing to shifting consumer preference towards the Thermoplastic Polyurethane based products along with high adoption rate in building & construction, automotive & transportation, and medical specifically in Poland, Spain, France, Italy, Germany, Belgium, UK, and Russia. Moreover, numerous countries of Latin America and the Middle East & Africa are expected to witness significant growth in Thermoplastic Polyurethane on account of rising per capita disposable income coupled with sales of Thermoplastic Polyurethane based product specifically in Chile, Guatemala, Peru, Argentina, Brazil, Mexico, and Venezuela coupled with expanding transportation manufacturing hubs and building & construction sector specifically in Qatar, Kuwait, Oman, Israel, UAE, Saudi Arabia, and Turkey.

Industry/ Innovation/ Related News:

February 2018- Huntsman Corporation announced launched a wide range of thermoplastic polyurethanes for footwear industry. With this product launch the company is able to meet the increasing demand for TPU from footwear manufacturers.

October 2017- Covestro announced to enhance their production capacity of TPU in North America by 25% at their West Virginia production unit. This capacity expansion will help company to strengthen their position among the thermoplastic polyurethane manufacturers.

November 2017- BASF India planned to expand their manufacturing capacity for Cellasto, a thermoplastic polyurethane elastomers at their production facility in Dahej, Gujarat. This strategic move will help company to meet the growing demand for thermoplastic polyurethane across the Asia Pacific region.

September 2017- Covestro AG announced to raise their thermoplastic polyurethane (TPU) capacity at their Taiwan based facility. The TPU production capacity is estimated to raise from 18,000 ton/year to 23,000 ton/year. This will help company to meet the increasing demand for TPU across the globe.

October 2017- Songwon Industrial Co. Ltd., announced to add 5,000 metric tons of thermoplastic polyurethane capacity at their South Korean based facility. This capacity expansion will help company to meet the rising demand for thermoplastic polyurethane across the globe.

October 2017- Songwon Industrial Co. Ltd., announced to add 5,000 metric tons of thermoplastic polyurethane capacity at their South Korean based facility. This capacity expansion will help company to meet the rising demand for thermoplastic polyurethane across the globe.

October 2016- Huntsman announced to launch new TPU grades for food contact application. the product met the Food contact material health standard and is expected to give a new momentum to the growth of the TPU market.

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Competitive Landscape

The Thermoplastic Polyurethane Report has analysed the level of competition among the key operating players in Thermoplastic Polyurethane Market as well as sector growth and market scenario. The Global Thermoplastic Polyurethane Market comprises of broad range of suppliers operating in the market which includes large scale and medium scale manufacturers. The key operating players of Thermoplastic Polyurethane and mid-level manufacturers which has strong hold in the market have shifted their focus towards growth association with the medium level and high level suppliers belongs to Asia Pacific specifically from China, South Korea, the Philippines, Japan, Australia, Taiwan, Malaysia, India, and Thailand. In addition, key operating players in this market is observed to follow numerous strategic plans to improve their product portfolio such as distribution agreements, strategic acquisition, joint ventures, product launches, and mergers, and exclusive agreements.
Main operating players in this market are anticipated to enhance their production capacity of Thermoplastic Polyurethane to meet the growing demand for Thermoplastic Polyurethane worldwide.

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