Thermoplastic Polyurethane Market is Forecasted to Reach US$ 4.51 billion in 2028, Says Stratview Research

The global thermoplastic polyurethane market is projected to witness a growth rate of 8.06% annually from 2023 to 2028, with an anticipated size of US$ 4.51 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global thermoplastic polyurethane market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 4.51 billion
Growth (CAGR): 8.06% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Thermoplastic Polyurethane Market:

The global thermoplastic polyurethane market is segmented based on raw material type, type, end-use industry type, and region.

Based on type - Based on the type, the market is segmented as polyester, polyether, and polycaprolactone. The polyester segment had a considerable share in the market in 2022, owing to its extensive use in various end-use industries, such as building & construction, automotive, and engineering, among others. The polycaprolactone segment is estimated to register the highest growth in the coming five years. The growth is attributed to its extensive application in various end-use industries.

Based on end-use industry type - Based on the end-use industry type, the market is segmented as footwear, engineering, building & construction, automotive, hose & tubing, wires & cables, and medical. The footwear segment led the market in 2022 in terms of volume, which was subsequently followed by the wires & cables, and the engineering segments. Further, the medical end-use industry segment is estimated to depict the highest growth during the forecast period.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/609/thermoplastic-polyurethane-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to dominate the thermoplastic polyurethane market in the coming five years, in terms of both value and volume. This growth outlook is majorly attributed to the following-

• It is also estimated to depict the highest growth during the forecast period. China and India are the growth engines of the region.
• The market is driven by the growing demand for thermoplastic polyurethane in various end-use industries.
• North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Thermoplastic Polyurethane Market Drivers:

Some of the key drivers listed in the report are given below.
The market has witnessed modest growth in the current years, which is anticipated to continue during the forecast period as well. Thermoplastic polyurethane bears properties such as remarkable abrasion resistance, outstanding low-temperature suppleness, and high oil resistance, owing to which it is used in various end-use industries, such as medical, automotive, wires & cables, hose & tubing, engineering, building & construction, and footwear.

Top Companies in the Thermoplastic Polyurethane Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• American Polyfilm, Inc.
• BASF Polyurethanes GmbH (BASF SE)
• Covestro AG
• Hexpol AB
• Huntsman Corporation
• Kuraray Co., Ltd.
• The Lubrizol Corporation
• Polyone Corporation
• Wanhua Chemical Group Co., Ltd.
• Headway Polyurethane Co. Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Thermoplastic Polyurethane Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Related Reports:
• PU Sole (Footwear Polyurethane) Market: https://www.stratviewresearch.com/580/pu-sole-market.html

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This release was published on openPR.