Thermoplastic Polyurethane Market Is Projected To Reach A Valuation Of US$ 5.8 Billion By 2032

The Thermoplastic Polyurethanes Market revenues were estimated at US$ 3 Bn in 2021 and is anticipated to grow at a CAGR of 6% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 5.8 Billion.

The key type for Thermoplastic Polyurethanes includes Polyester where the Demand growth of Thermoplastic Polyurethanes was recorded at 6.2% during 2017 - 2021, while it is expected to grow at a CAGR of 7% during 2022 -2023. Polyester-based TPU is frequently used in applications where resistance to lubricants, fuel, and water is required.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7868?PJ

𝐑𝐞𝐜𝐞𝐧𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬

Bio-based and Recycled TPUs: Manufacturers are investing in research and development to produce bio-based TPUs derived from renewable resources, reducing reliance on fossil fuels. Additionally, recycling TPUs is gaining traction as part of circular economy initiatives.

Advanced TPU Blends: Companies are developing innovative TPU blends with other materials like thermoplastics and thermosets to enhance specific properties, such as flame resistance or improved elasticity.

3D Printing: TPU has become a popular material for 3D printing due to its flexibility and durability. This trend is particularly significant in the production of customized products and prototypes.

Lightweighting in Automotive: As automakers focus on lightweighting vehicles to improve fuel efficiency, TPU finds use in reducing weight while maintaining durability, especially in interior components and sealing systems.

Medical Grade TPUs: The demand for medical-grade TPUs continues to rise, driven by the need for biocompatible and sterilizable materials for medical devices.

Additionally, since it generally provides exceptional transparency, polyester is commonly used in engineering and construction applications.

Polyester is used to make a variety of products, including bottles, films, sails, filters, and insulating tapes. In order to create fabric blends that are used to make clothing, polyester can be combined with other natural fibers.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗦𝘁𝘂𝗱𝘆

Thermoplastic Polyurethane Market was valued at US$ 3 Bn in 2021. According to Fact.MR,
Thermoplastic Polyurethanes Market revenue would increase 1.9X between 2022 and 2032, reaching roughly US$ 5.8 Bn in 2032.

In terms of type, the revenue through polyester is projected to account for the highest projected CAGR of over 7.0%.

In terms of end-use, revenue through footwear is expected to account for the highest CAGR of 6% during 2017-21.

U.S. leads Thermoplastic Polyurethanes Market with an absolute dollar opportunity of over US$ 692 Mn.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Thermoplastic Polyurethane Market are focused on alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their Thermoplastic Polyurethane Market share.

Some of the recent developments in the Thermoplastic Polyurethane Market are:

In September 2021, KPX Chemical, a key producer of polyols for polyurethanes in South Korea partnered with Huntsman Corporation to create KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO. LTD (KHPUA). The joint venture will develop and offer cutting-edge polyurethane system solutions to the Korean automakers.

In May 2019, ASF announced that by 2022 it is planning to expand the Verbund factory in Zhanjiang, China's production of THERMOPLASTIC POLYURETHANES and technical plastics. With the expansion, the overall manufacturing capacity for these items in APAC will increase to 290,000 MTPA with this development. This growth would enable the business to better serve clients in APAC who have urgent demands.

𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱

BASF SE
Covestro AG
The Lubrizol Corporation
Huntsman International LLC
Wanhua Chemical Group Co. Ltd.
COIM Group
Kuraray Co., Ltd
Entec Polymers
American Polyfilm Inc
ALPHAGAR

𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗧𝗣𝗨

Thermoplastic polyurethane has a wide range of applications across various industries:

Automotive: TPU is used in automotive interiors, exterior parts, and under-the-hood components for its durability, flexibility, and resistance to chemicals and UV radiation.

Footwear: TPU is a preferred material for shoe soles and midsoles, providing cushioning, durability, and wear resistance.

Medical Devices: TPUs are used in medical tubing, catheters, and wound dressings due to their biocompatibility, sterilizability, and flexibility.

Consumer Electronics: TPU is used in protective cases, gaskets, and connectors in consumer electronic devices, offering impact resistance and durability.

Sporting Goods: Sporting equipment, such as ski boots, bike saddles, and inflatable structures, benefit from TPU's flexibility and durability.

𝗧𝗵𝗲𝗿𝗺𝗼𝗽𝗹𝗮𝘀𝘁𝗶𝗰 𝗣𝗼𝗹𝘆𝘂𝗿𝗲𝘁𝗵𝗮𝗻𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻

𝗕𝘆 𝗧𝘆𝗽𝗲:
Polyester
Polyether
Polycaprolactone

𝗕𝘆 𝗘𝗻𝗱-𝗨𝘀𝗲 :
TPU for Footwear
TPU for Industrial Machinery
TPU for Automotive
TPU for Electronics
TPU for Other End-Uses

𝗕𝘆 𝗥𝗲𝗴𝗶𝗼𝗻 :
North America
Latin America
Europe
APAC
MEA

The thermoplastic polyurethane (TPU) market continues to grow as this versatile polymer finds applications in a wide range of industries, driven by its flexibility, durability, and resistance to various environmental factors. The automotive, footwear, medical, consumer electronics, and sporting goods sectors are among the key contributors to the increasing demand for TPU. Recent industry trends, including the development of bio-based and recycled TPUs, advanced TPU blends, and the adoption of TPU in 3D printing, highlight the dynamic nature of this market. As sustainability and performance requirements evolve, TPU manufacturers are innovating to meet the changing demands of consumers and industries.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 :
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7868?PJ

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