Press release
Thermoplastic Polyurethane (TPU) Market Report 2023: Industry Overview, Size, Share & Growth till 2028
Thermoplastic Polyurethane Market
The global thermoplastic polyurethane (TPU) market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028. The growing utilization of TPU-based sealants and adhesives, increasing sales of biodegradable plastic, and rising need to produce automotive components represent some of the key factors driving the market.
Thermoplastic Polyurethane (TPU) is a member of the thermoplastic elastomer group and is widely recognized for its diverse range of properties, making it ideal for numerous applications. This polymer is formed by combining diisocyanates with polyols, resulting in a flexible and rubber-like material. TPU possesses remarkable elasticity, allowing it to endure repeated stretching and bending without suffering permanent deformations. Its exceptional flexibility renders it suitable for applications that demand resilience and adaptability. Additionally, TPU exhibits impressive tensile strength and excellent tear resistance, granting it durability and protection against abrasion.
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Global Thermoplastic Polyurethane (TPU) Market Trends and Drivers:
The global market for TPU is experiencing significant growth, driven by its expanding utilization in the footwear industry. TPU is increasingly being employed in various footwear components such as outsoles, midsoles, heel counters, and toe caps, offering durability, flexibility, and resistance to abrasion. This makes it particularly well-suited for athletic shoes and hiking boots. Furthermore, the automotive sector is also adopting TPU for both interior and exterior components like instrument panels, door panels, seat covers, airbags, gaskets, and seals. The market growth is further fueled by the rising sales of luxury vehicles. Additionally, TPU is finding increased applications in the manufacturing of medical devices and equipment, contributing positively to the market's advancement.
Global Thermoplastic Polyurethane (TPU) Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: American Polyfilm Inc., BASF SE, Coim Group, Covestro AG, Epaflex Polyurethanes Spa, Hexpol AB, Huntsman International LLC, Kuraray Co. Ltd., Mitsui Chemicals Inc., Sumei Chemical Co. Ltd., The Lubrizol Corporation (Berkshire Hathaway Inc.) and Wanhua Chemical Group Co. Ltd.
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The report segmented the market on the basis of region, type, raw material, application and end use industry.
Type Insights:
Polyester
Polyether
Polycaprolactone
The report has provided a detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the type. This includes polyester, polyether, and polycaprolactone. According to the report, polyester represented the largest segment.
Raw Material Insights:
Polyols
Diisocyanate
Diols
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the raw material has also been provided in the report. This includes polyols, diisocyanate, and diols. According to the report, polyols accounted for the largest market share.
Application Insights:
Extruded Products
Injection Molded Products
Adhesives
Others
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the application has also been provided in the report. This includes extruded products, injection molded products, adhesives, and others. According to the report, extruded products accounted for the largest market share.
End Use Industry Insights:
Construction
Automotive
Footwear
Medical
Electrical and Electronics
Heavy Engineering
Others
A detailed breakup and analysis of the thermoplastic polyurethane (TPU) market based on the end use industry has also been provided in the report. This includes construction, automotive, Footwear, medical, electrical and electronics, heavy engineering, and others. According to the report, footwear accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Speak to Analyst:- https://www.imarcgroup.com/request?type=report&id=5264&flag=C
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for thermoplastic polyurethane (TPU). Some of the factors driving the Asia Pacific thermoplastic polyurethane (TPU) market included the growing demand for high performance materials, increasing demand in the automotive industry, rising utilization of TPU in footwear industry, etc.
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Related reports:-
Polyamide Market:- https://www.imarcgroup.com/polyamide-market
Tungsten Carbide Market:- https://www.imarcgroup.com/tungsten-carbide-market
Contact Us:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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