Thermoplastic Polyurethanes(TPU) Market at a CAGR of 5.27%
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The Global TPU Market has been estimated at USD 1.921 billion in 2015 and is projected to reach USD XX.XX billion by 2020, at a CAGR of 5.27% during the forecast period. The market is mainly driven by the huge demand from the end-user industries and the properties such as low temperature properties which no other elastomers can provide. The TPUs can also be subdivided into Aromatic and Aliphatic based on the applications they will be used for.
TPU, owing to their high tensile strength, good hydrolytic stability, high abrasion resistance, and resistance to chemicals, oils and UV light, is becoming an integral part of various commercial and industrial sectors. In the TPU market report, we have taken the following major end-user sectors into consideration: Construction, Automobile, Footwear, Medical, Electrical & Electronics, Heavy Engineering, and others. The Automobile Industry is the fastest growing segment owing to the better performance as compared to the metals used in the vehicles, growing at a CAGR of XX.XX%.
This market is driven by a number of factors, such as Extensive demand from Automobile Industry growing automotive industry Newer Applications in Medical Industry, and recyclability. However, this market faces certain drawbacks, such as Higher Manufacturing Cost, Production Constraints and Lack of Awareness in Emerging Economies. These factors may act as a roadblock to the growth of the market.
The Global TPU market, on the basis of application can be broadly segmented into Extrusion, Injection Molding, Paints and Coatings, and Adhesives and Sealants. The market has also been divided according to the product type into Polyester, Polyether and Polycaprolactone.
The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and MEA. In terms of consumption in 2015, APAC led the market with a share of more than 50%.
It was followed by Europe and North America. With the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is accelerating the demand for automobiles and buildings in the Asia-Pacific region, thereby TPUs are extensively being used as a replacement for PVC in the Medical Industry. However, the dearth of stringent norms regarding VOC emission from paints, coatings, and adhesives in the developing country in this region has considerably hindered the growth of this market.
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Furthermore, the technological advancements and the shift towards bio-based products will open up opportunities in the Global TPU market. Some of the major companies dominating this market for its products, services, and continuous product developments are BASF Polyurethanes, Huntsman, Lubrizol Corp., Shin Etsu Polymer, Wanhua Chemical Group Co. Ltd., and Covestro.
Key Deliverables in the Study
Market analysis for the Global TPU Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global TPU market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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