Global Thermoplastic Polyurethane Market to Exceed USD 2.84 Billion by 2022
Zion Market Research added a new report “Thermoplastic Polyurethane Market by Injection Molding, Extrusion, Adhesives & Sealants and Paints & Coatings Applications for Automotive, Construction, Engineering, Footwear, Hose & Tube, Medical and Wire & Cable End-Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022.” in its database.
Sarasota, FL -- (SBWire) -- 01/16/2018 --Zion Market Research has published a new report titled "Thermoplastic Polyurethane Market by Injection Molding, Extrusion, Adhesives & Sealants and Paints & Coatings Applications for Automotive, Construction, Engineering, Footwear, Hose & Tube, Medical and Wire & Cable End-Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022". According to the report, the global thermoplastic polyurethane market accounted for USD 1.93 Billion in 2016 and is expected to reach USD 2.84 Billion by 2022, growing at a CAGR of around 6.7% between 2017 and 2022.
Thermoplastic polyurethane market is a rapidly growing industry with demand from various regions of the world owing to its wide range of applications in various end-user industries. Polyurethanes are one of the most adaptable plastic materials owing to its properties such as elasticity, transparency, and resistance to oil, grease, and abrasion.
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The global thermoplastic polyurethane (TPU) market is expected to witness significant growth owing to increasing 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 curb the growth of the global thermoplastic polyurethane market. Furthermore, instability in the prices of raw materials could also hinder the growth of the thermoplastic polyurethane market. The development of bio-based alternatives is expected to create more opportunities in the thermoplastic polyurethanes market in the coming years.
The global thermoplastic polyurethane market can be segmented based on their applications and end-users. Based on their applications, they are segmented into injection molding, extrusion, adhesives & sealants, and paints & coatings. On the basis of end-users, the global thermoplastic polyurethanes market is further segmented into automotive, construction, engineering, footwear, hose & tube, medical and wire & cable. Among the application segments, the extrusion segment dominated the market in 2016 and is expected to witness significant growth within the forecast period. Injection molding and sealants & adhesives accounted for the second and third largest share respectively of the global thermoplastic polyurethanes market in 2016.
The automotive segment accounted for the largest market share among the end-users in 2016 and is expected to witness significant growth owing to the development and growth of the automotive industry across the globe. Key market players in the industry have been investing in research & development to explore more applications of thermoplastic polyurethanes. Footwear segment is also expected to grow at a significant pace owing to the adoption of TPU's in footwear by the leading market players.
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Asia Pacific accounted for most of the global market share and is expected to grow in light of rising demand from the emerging economies in the region. Europe accounted for the second largest share of the global thermoplastic polyurethanes market and is expected to grow in light of demand from the automotive sector in the region.
The key players operating in 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., Polyone Corporation, Taiwan Sheen Soon and Wanhua Chemical Group Co. Ltd. among others.
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This report segments the global thermoplastic polyurethane market as follows:
Global Thermoplastic Polyurethane Market: Application Segment Analysis
Adhesives & Sealants
Paints & Coatings
Global Thermoplastic Polyurethane Market: End-User Segment Analysis
Hose & Tube
Wire & Cable
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Global Thermoplastic Polyurethane Market: Regional Segment Analysis
The Middle East and Africa
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