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Thermoplastic Polyurethane Films Market Demand, Trends, Analysis, Application & Type Forecast to 2024
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Asia Pacific to be Highly Lucrative Market for TPU Films
Polyester TPU was the leading product segment of the global TPU films market in 2015 in terms of value as well as volume, amounting to US$212.8 mn by 2024. On the other hand, polycaprolactone TPU is estimated to exhibit the strongest growth in the demand and revenue during the forecast period. The segment is projected to expand at a 7.0% CAGR in terms of revenue.
In terms of value, the automotive sector constituted a massive share in the global TPU films market in 2015, while the aerospace industry is likely to offer lucrative market opportunities for TPU films by 2024. Geographically, Asia Pacific is expected to represent itself as a highly attractive market in the next couple of years. In terms of volume, the demand for TPU films in this region reached 18,200.0 tons in 2015 and is expected to exhibit a 6.0% CAGR through 2024.
From the regional perspective, the report segments the global TPU films market into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Of these, the Europe market is presently the leading contributor to the revenue of the global market, thanks to the presence of some of world’s leading automobile manufacturers. Recovery of the automotive company post the recent economic slowdown in the region will again open growth avenues for the TPU films market, allowing the region to remain at the forefront of the global market in the next few years as well.
The global thermoplastic polyurethane (TPU) films market is characterized by the presence of large and well-known players, who account for over half the market. Leading manufacturers operating in the thermoplastic polyurethane films market include BASF SE, Covestro AG, The Lubrizol Corporation, Huntsman Corporation, Tosoh Corporation, Wanhua Chemical Group Co., Ltd., Huafon Group, Shanghai Lejoin Polyurethane Industrial Co., Ltd., and Polyol Macromolecule Polymer (Fujian) Co., Ltd.
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