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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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.
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.
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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.
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.
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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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