Thermoplastic Polyurethane Sales to Top US$ 5.8 Billion by 2032; Polyester Segment Lead the Revenue Share
Global sales of thermoplastic polyurethane were projected to reach $3 billion in 2021. By the end of 2032, the market is projected to be worth US$ 5.8 billion, with a 6% CAGR between 2022 and 2032. Over the projected period (2022-2022), polyester-type thermoplastic polyurethanes are expected to earn the highest amount of income.
It is anticipated that the demand for these films will increase significantly during the forecast period due to the increase in the production of footwear and clothing as well as technological advancements that have made thermoplastic polyurethanes a more flexible and desirable material for the footwear and apparel industry.
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Why Polyester Thermoplastic Polyurethanes is projected to Witness the Fastest Growth?
Polyester is the Thermoplastic Polyurethane kind that is most frequently utilised. Currently valued at US$ 1.1 billion, the demand for thermoplastic polyurethanes through polyester is anticipated to increase at a CAGR of 7.0% to US$ 2.3 billion by 2032. With a global share of almost 40%, the polyester market also commands the revenue.
Polyester-based TPU is frequently used in applications where resistance to lubricants, fuel, and water is required. In addition, because it often provides higher transparency, polyester is frequently used in engineering and construction applications. Polyester is used to make a variety of items, including bottles, films, sails, filters, and insulating tapes. Polyester can be blended with other natural fibres to generate fabric blends that are used to make clothing.
The market will expand in the upcoming years as a result of the growing demand for polyether in the automotive sector. The market sector with the quickest growth is polycaprolactone because of its natural toughness and resistance to abrasion. TPU is frequently regarded as a potential application material for bone tissue because of its mechanical and antimicrobial qualities.
Key Companies Profiled
- BASF SE
- Covestro AG
- The Lubrizol Corporation
- Huntsman International LLC
- Wanhua Chemical Group Co. Ltd.
- COIM Group
- Kuraray Co., Ltd
- Entec Polymers
- American Polyfilm Inc
- ALPHAGAR
Thermoplastic Polyurethane market study analyses the significant issues pertinent to the sectors, assesses the developing trends, and provides crucial insights in order to assist market participants in making strategic decisions and strategically targeting both the domestic and international markets.
The research offers a macroeconomic and corporate outlook of the market for thermoplastic polyurethane. Industry experts make suggestions in this study that will prepare the market’s participants for a better future.
Key Highlights
- The study analyses the state of the latest worldwide Thermoplastic Polyurethane market.
- The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector.
- The paper examines in great detail how the world market for Thermoplastic Polyurethane is changing.
- The research examines how the worldwide Thermoplastic Polyurethane market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organisation.
- The report identifies prospects as well as the main obstacles you may face in the near future.
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A thorough analysis of the entire market is made possible by the inclusion of granular segmentation by end-use, category, function, and geographic region in the global Thermoplastic Polyurethane market report. Similarly, the existing and anticipated expansion of the Thermoplastic Polyurethane business affects the market share of publications.
Profiles of the Thermoplastic Polyurethane industry’s products, sales, returns, competitive environment, market structure, industry drivers, and significant business difficulties are also included in the study. The analysis determines the market’s present growth rate, anticipated future growth, and the major factors that will influence that growth in 2022. The study also estimates the number of products sold from 2015 to 2020 and forecasts sales for the years 2022 to 2032.
Thermoplastic Polyurethane Market: Segmentation
- By Type :
- Polyester
- Polyether
- Polycaprolactone
- By End-Use :
- TPU for Footwear
- TPU for Industrial Machinery
- TPU for Automotive
- TPU for Electronics
- TPU for Other End-Uses
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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The key business strategies discussed in this market research revolve around-
- How key players in the Thermoplastic Polyurethane market are maintaining their competitive advantage in the wake of globalization?
- What changing dynamics in the Thermoplastic Polyurethane industry specify about the future opportunities for manufacturers?
- How Covid-19 pandemic affected sales in the Thermoplastic Polyurethane market and what strategies are expected to recover from its impact?
- What business tactics are gaining attention and influencing Thermoplastic Polyurethane market rivalry?
- What is the current Thermoplastic Polyurethane market share?
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