Thermoplastic Polyurethane Films Market Size Is Predicted To Value USD 724.6 Million By 2020: Grand View Research, Inc.

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According to report published by Grand View Research, the global thermoplastic polyurethane (TPU) films market is expected to reach USD 724.6 million by 2020. Growing adoption of TPU films as raw material in fashion and footwear industries is expected to further augment the growth of the global market.

According to a research report by Grand View Research, Inc., the global Thermoplastic Polyurethane (TPU) films market is projected to value USD 724.6 million by 2020. Growing requirement for a raw material that can replace plastic in various end-use industries is anticipate to propel the demand for TPU films during the forecast period (2012 to 2020). Thermoplastic polyurethane films offer exceptional properties such as transparency, high elasticity, and resistance from abrasion, oil, and grease. In addition, high gas permeability offered by TPU films can also fuel their demand in the manufacturing of leisure sports products. Growing adoption of TPU films as raw material in fashion and footwear industries is expected to further augment the growth of the global market.

Increasing use of polyether-based TPU films in the production of medical devices & equipment on account of reusability and hygiene concerns can fuel market growth in the forthcoming years. Growing adoption of high-performance material TPU film offering properties of both polymers and rubber over conventional steel and plastic materials in automobile manufacturing is also likely to have a positive impact on the growth of this market over the next few years. The global thermoplastic polyurethane films market is segregated on the basis of application and region. On the basis of application, the market can be categorized into leisure & sports, energy, furniture, aerospace, railway, automotive, building & construction, and others.

Full Research Report On TPU Films Market Analysis:

Asia Pacific TPU film market volume by application, 2012-2020 (Tons)

Aerospace is anticipated to be the fastest-growing segment with a CAGR of 6.6 % by 2020. Growth of aviation sector in various developing economies as a result of rising disposable income of consumers is anticipated to boost the market growth. In aircrafts, TPU films can be used to make seat cushions, masks, armrest surfaces, and aircraft wire & cable jacketing. It can also replace metal components and traditional plastics in aircraft. In addition, energy segment is also expected to witness a healthy expansion during the next few years. Growing adoption of renewable energy generation practices is said to be the key factor driving the segment development. In addition, high demand for solar panel applications and windmill blades on account of increasing wind power and solar power installations can also stimulate the segment growth in the coming years.

The automotive segment dominated the industry in the past and accounted for 24 % of the overall market share in terms of volume. In automobiles, TPU films are used to manufacture door panels, airbags, acoustic panels, instrument panels, and seats. The segment is projected to expand further on account of high demand for lightweight and fuel-efficient vehicles among consumers due to increased awareness regarding environmental pollution. Furthermore, favorable government initiatives in several regions are also estimated to augment the segment demand. Regional segmentation includes Europe, North America, Asia Pacific, Japan, and rest of the world (ROW).

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Global TPU films market share in automotive, by region, 2015 (%)

In 2015, Asia Pacific was the dominant regional market for thermoplastic polyurethane films and accounted for 34 % of the overall market share. Supportive government policies regarding textile trade activities across China is likely to have a positive influence on the growth of this region. Several other initiatives in the region such as Make in India and Smart Cities focusing on the infrastructural development would propel the demand for high-quality plastic products in the next few years. This, in turn, is estimated to drive the TPU films market in Asia Pacific. In addition, expansion of the existing facilities by key market players is also anticipated to spur the market growth in this region. Furthermore, improving living standards coupled with rapid infrastructural development can fuel the market demand in the region during the forecast period.

The Europe thermoplastic polyurethane films market is driven by the growing scope of sports and leisure applications in the region. However, recent economic recessions in Europe has slowed down the development of the major end-use sectors, which may hinder the market growth in this region. Some of the leading companies offering thermoplastic polyurethane films are 3M Company; MH&W International Corp.; Bayer Material Science; Huntsman Corporation; and PAR Group.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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