Thermoplastic Polyurethane Films Market: Latest Trends,Analysis & Insights 2024

The global market for thermoplastic polyurethane (TPU) films features the dominance of few large and well-established TPU films brands and a high level of competition, observes a recent report by Transparency Market Research (TMR). Owing to the capital-intensive production process, the market has been able to keep new entrants at a bay and the situation is expected to remain unchanged in the next few years as well. Leading vendors are expected to forge partnerships through acquisitions and mergers with promising players in key regional territories as a way of expanding geographically and adding new technologies and products to their own portfolios.

Some of the leading vendors in the global thermoplastic polyurethane films market are BASF SE, Huntsman Corporation, Covestro AG, Polyol Macromolecule Polymer (Fujian) Co., Ltd, The Lubrizol Corporation, Huafon Group, Tosoh Corporation, and Wanhua Chemical Group Co., Ltd.

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Transparency Market Research estimates that the global TPU films market will exhibit a promising 6.8% CAGR over the period between 2016 and 2024, rising to a valuation of US$516.9 mn by 2024 from US$286.8 mn in 2015.

Rising Production of Automobiles in Asia Pacific to Present Vast Growth Opportunities for TPU Films Market

In terms of product variety, the report examines the market for segments such as polyester TPU, polycaprolactone TPU, and polyether TPU. Of these, the segment of polyester TPU dominated the global TPU films market in 2015, accounting for the largest share in the global market in terms of both revenue and value. Over the report’s forecast period, the segment of polycaprolactone TPU is expected to expand at the most promising pace - an estimated 7% CAGR.

From a geographical perspective, the market for TPU films in Europe is presently the leading contributor of revenue to the global market, thanks to the excellent demand from an established automotive industry. The market in Asia Pacific is expected to emerge as the one with the most promising growth opportunities owing to the increasing production of vehicles in the region.

Promising Rise in GDPs in BRICS Countries Key to Rising Global Demand for TPU Films

The significant rise in the production as well as consumption of volumes of a variety of automobiles in emerging economies such as India, Brazil, China, Russia, and South Africa is one of the key factors expected to boost the overall intake of TPU films in the next few years. The steady rise in GDPs of these countries has encouraged the rise in production units across a number of industries, a trend expected to gather strength with time due to encouraging government regulations and high demand for products in domestic markets. This trend is also expected to hold true for the automotive industry, which is a key consumer of TPU films.

The massive rise in efforts aimed at reducing the overall weight of vehicles to make them more energy efficient and better at long-term performance has compelled automakers to replace metal parts with suitable alternatives such as TPU films. Although TPU films have found vast usage across automotive parts such as seating in-fills and interior door panels, their overall promise is expected to be hampered due to the increasing availability of substitutes.

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This review of the market is based on a recent market research report published by Transparency Market Research, titled “Thermoplastic Polyurethane Films Market (Product Type - Polyester TPU, Polyether TPU, and Polycaprolactone TPU; End Use - Automotive, Building & Construction, Furniture, Aerospace, Footwear, Energy, Medical & Healthcare, Recreation, and Flexible Packaging) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”

For the study, the global thermoplastic polyurethane films market has been segmented as follows:

Thermoplastic Polyurethane Films Market – Product Analysis
Polyester TPU
Polyether TPU
Polycaprolactone TPU

Thermoplastic Polyurethane Films Market – End-user Analysis
Automotive
Building & Construction
Furniture
Aerospace
Footwear
Energy
Others (including medical & health care, flexible packaging, and recreation)

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