Thermoplastic Polyurethane Market Will Reach USD 5,326 Million by 2030 | P&S Intelligence

The global thermoplastic polyurethane (TPU) market is projected to be worth USD 5,326 million by 2030, growing at a CAGR of 7.0%. This growth can be ascribed to the wide utilization of TPU in numerous applications like medical devices, automobile parts, and wound care items.

In 2022, based on the end-use industry, the footwear category generated the highest revenue share, and the category is projected to be in the top spot in the future as well. This can be credited to the high demand for polyurethane in the footwear sector because of its lucrative nature and customization options. It is utilized to make heels, soles, slippers, toe caps, and insoles, which offer an improved grip on greases, oils, and slippery surfaces.

To download free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/thermoplastic-polyurethane-market/report-sample

The therapeutic sector provides numerous opportunities for thermoplastic polyurethane builders as it is a renowned material in this sector and can be utilized in many healing applications and healthcare items including wound care products, orthodontic products, medical instrument cables, dental materials, compression stockings, healthcare mattresses, catheters, and gel shoe orthotics. TPU-based items are far more flexible to temp and can be rigid at the time of pull-out and flexible once injected inside the body part. All these reasons are accountable for the development of the industry in this category.

Based on type, in 2022, the polyester category had the largest revenue share, and the category is also projected to be in the dominant position in the future as well. This is mainly because of the growing need for polyester in the automobile, construction, and textile sectors as it offers extreme transparency.

Inquire before purchase@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=thermoplastic-polyurethane-market

Further, this material is utilized mostly in the textile sector, credited to its toughness and water resistance, and its thread is quicker and simpler to join into the fabric than other natural fibers such as cotton. Worldwide, polyester was a largely accepted fiber with a size of 57 million tons, which is responsible for 52% of the fiber industry, in recent years.

In 2022, worldwide, the APAC region dominated the thermoplastic polyurethane (TPU) market with a revenue share of over 55%, and the region is also projected to remain in the top spot throughout the projection period. This is mainly because of the wide utilization of TPU in the automotive and medical sectors, the region is the world's biggest exporter of vehicles, and the majority of OEMs are using polyurethane for manufacturing parts of automobiles.

Explore more about this report@ https://www.psmarketresearch.com/market-analysis/thermoplastic-polyurethane-market

Furthermore, the existence of a huge populace base, industry expansion, fast urbanization, growing per-capita income, and fast-emerging nations in the region is growing the demand for high-performance materials and making the region an industrial hub, globally.

About P&S Intelligence
P&S Intelligence is a market research and consulting firm shaping growth strategies for enterprises with a global as well as niche presence. We specialize in both syndicate and custom market research, creating insight-laden reports that allow customers to stay ahead at every curve. Our clients range from multi-billion-dollar behemoths across industries to up and coming MSMEs and startups. Moreover, with our new offering, government, and public sector advisory services, we continue to trudge ahead in our quest for revolutionizing the way economies shape themselves in these ever-changing times.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.