Market Research Future (MRFR) Announces the Publication of its Research Report – Global Thermoplastic Polyurethane Market 2017-2023. Global Thermoplastic Polyurethane Market is expected to grow at CAGR of 6.53%.
Thermoplastic Polyurethane Market is expected to grow at a rapid phase owing to rising demand from various regions and it vast application in various end-use industries. Thermoplastic Polyurethane has good properties such as elasticity, transparency, and resistance to oil, grease, and abrasion due to this the application of Thermoplastic polyurethane has been expanding. Globally, the thermoplastic polyurethane market is expected to witness significant growth owing to rising demand from the automotive sector. In addition, thermoplastic polyurethanes applications in medical are also expected to boost the growth of the TPU market in the coming years. However, the growing environmental concerns with the manufacture and usage of thermoplastic polyurethanes are expected to hinder the growth of the market.
In addition, growth of automotive and construction industry are the major industries for consumption of thermoplastic polyurethane especially in APAC region by contributing the major countries such as China, India, Thailand, and South Korea. It is expecting thatduring 2016-2023 the Global Thermoplastic Polyurethane Market will grow with the CAGR of 6.53%.
Key Players and Competitive Analysis:
Key players of the Global Thermoplastic Polyurethane Market are API Plastics, BASF SE, Bayer Material Science Ag, COIM, Headway Polyurethane Co. Ltd., Hexpol AB, Huntsman Corporation, Lubrizol Corporation, Miracll Chemical Co. Ltd., Wanhua Chemical Group Co. Ltd and others.
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Expansion and new product development are the key strategies followed by major industry players for growth of thermoplastic polyurethane market for instance BASF thermoplastic polyurethane (Elastollan®) is expanded at the Ludwigshafen headquarters, using an innovative procedure. In-addition major companies are investing in Research and development in order to innovative in TPUs and major applications of TPUs.
The Global Thermoplastic Polyurethane Market is majorly segmented on the basis of garde, types, application, and region. Based on grade, of thermoplastic polyurethane the market is segmented into Flame Retardant, Antistatic, Reinforced & Others. Based on types of thermoplastic polyurethane the market is segmented into polyester, polyether, and polycaprolactone. Furthermore, based on application of Thermoplastic Polyurethane the market is segmented into as Automotive, Construction, Engineering, Medical and Others
Based on type, of thermoplastic polyurethane the market is segmented into polyester, polyether, and polycaprolactone. The market for polyester is expected to grow at healthy CAGR, the properties of polyester TPU allows compatible with PVC and other polar plastics and are unaffected by oils and chemicals it provides excellent abrasion resistance and good balance of physical properties that are used in polybends. The polyether they are slightly lower in specific gravity than polyester and polycarprolactone, it provides low temperature flexibility and good abrasion and tear resilience. Polycarprolactone TPU are second largest market they inherent toughness and resistance of polyester based TPUs, they are ideal raw material for hydraulic and pneumatic seals.
Furthermore, based on application of Thermoplastic Polyurethane the market is segmented into as Automotive, Construction, Engineering, Medical and Others. The automotive segment accounted for the largest market share among application in 2016 and is expected to witness significant growth owing to the developments in automotive industry. Key market players have been investing in R&D in order to innovate or develop THUs and increase its applications. Medical sector is also expected to grow at significant pace owing to medical device housing, wound care products by the leading market players.
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In geographical terms, Asia Pacific is the largest market of thermoplastic polyurethane due to demand in various industry such as automotive, construction, engineering, medical and others, in China region followed by India. Increasing demand for automotive industry in the China, India, Taiwan, and South Korea has made Asia Pacific largest consumer of the global thermoplastic polyurethane market followed by increasing in the consumption of thermoplastic polyurethane market in Europe region. In Europe region, thermoplastic polyurethane market is mainly drive by engineering sector. In addition, the third largest market of thermoplastic polyurethane is North America region due to large consumption in automotive and construction industry. Latin America and Middle East also witnessed in growth of thermoplastic polyurethane market due to various applications.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
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