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.
Transparency Market Research has observed that key players are
forming partnerships and acquiring regional players to expand the
production of TPU and its raw materials. This is estimated to
intensify the market rivalry during the forecast period. The
capital-intensive nature of the market and the presence of
well-established TPU film brands in the global market is likely to
create significant barriers for new entrants.
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Exhibiting a steady CAGR of 6.8% from 2016 to 2024, the global
thermoplastic polyurethane films market is expected to expand from a
value of US$286.8 mn in 2015 to reach US$516.9 mn by 2024. The global
demand for TPU films is expected to reach 79,361.8 tons by the end of
the forecast period.
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.
Surge in GDP Growth in BRICS to Act as Key Growth Booster
The increase in automobile sales is projected to fuel the demand for
TPU films in emerging economies from 2016 to 2024, predicts TMR.
“Emerging economies such as BRICS (Brazil, Russia, India, China,
and South Africa) are expected to witness an increase in GDP growth
in the coming years and thus, manufacturing activities of various
industries are anticipated to rise in the near future. This also
holds true for the automotive sector, which is the primary end user
of TPU films,” the author of the study points out.
TPU films are used in the automotive industry reduce the overall
weight of auto parts and components and to improve overall
performance and efficiency. These films are used in the engineering
and designing of noise and vibration absorbing automotive parts, such
as interior door panels, seating in-fills, and thermal insulation
covers for engine bays.
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Contrary to this, the ever-rising prices of raw materials and the
growing presence of substitutes are some of the prominent deterrents
to the growth of the TPU films market.
This review is based on the findings of a TMR report titled
“Thermoplastic Polyurethane (TPU) 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.”
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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