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2023 Global Thermoplastic Polyurethane Market Size, Share, Report, Growth And Industry Forecast 2032
Thermoplastic Polyurethane Market Report
Thermoplastic Polyurethane Market Size, Growth Rate, And Forecast:
The global thermoplastic polyurethane market size grew from $2.54 billion in 2022 to $2.77 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The thermoplastic polyurethane market size is expected to grow to $3.65 billion in 2027 at a CAGR of 7.2%.
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Thermoplastic Polyurethane Market Drivers:
Increasing product demand from the footwear industry is expected to propel the growth of the thermoplastic polyurethane market going forward. The footwear industry comprises companies that design, manufacture, and sell shoes. Footwear is intended to protect feet from physical hazards such as sharp or falling objects, extreme heat, and cold, wet, and slippery surfaces. Footwear industries are incorporating thermoplastic polyurethane into the soles of shoes to enhance their footwear's durability, mechanical strength, abrasion resistance, and slip resistance. For instance, according to Invest India's report on the non-leather footwear sector in India, in 2020, India was the world's second-largest consumer and manufacturer of footwear, and the footwear industry is expected to grow eightfold by 2030. Also, according to RunRepeat, a US-based shoe review site, in 2022, the footwear industry by volume is projected to grow by 16.2% and is expected to produce 2,360 million pairs by 2025. Therefore, increasing product demand from the footwear industry will drive the thermoplastic polyurethane market.
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Thermoplastic Polyurethane Market Segments
•By Type: Polyester, Polyether, Polycaprolactone, Other Types
•By Raw Material: Diisocyanate, Polyols, Diols, Other Raw Materials
•By Application: Automotive, Construction, Engineering, Footwear, Hose And Tubing, Wire And Cable, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Thermoplastic Polyurethane market.
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Thermoplastic Polyurethane Market Key Players:
Major competitors in the thermoplastic polyurethane market include Badische Anilin- und SodaFabrik, Lubrizol Corporation, Covestro AG, Huntsman Corporation, Wanhua Industrial Group Co Ltd.
The Business Research Company's "Global Thermoplastic Polyurethane Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Thermoplastic Polyurethane Market Include:
1. Executive Summary
2. Thermoplastic Polyurethane Market Characteristics
3. Thermoplastic Polyurethane Market Trends And Strategies
4. Thermoplastic Polyurethane Market - Macro Economic Scenario
5. Thermoplastic Polyurethane Market Size And Growth
......
26. Africa Thermoplastic Polyurethane Market
27. Thermoplastic Polyurethane Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Thermoplastic Polyurethane Market
29. Thermoplastic Polyurethane Market Future Outlook and Potential Analysis
30. Appendix
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