Thermoplastic Polyurethane (TPU) Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth And Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 04/06/2015 -- Thermoplastic polyurethane or TPU is a classification of elastomers which is completely thermoplastic, i.e. it is melt-processable and elastic in nature. Thermoplastic polyurethane bears properties such as oil resistance, transparency, and elasticity, owing to which it is widely used in a wide range of industries. In technical terms, thermoplastic polyurethane is an elastomer made up of linear segmented block copolymers, which can be composed of hard or soft segments. Among the two segments, the hard segment can be aliphatic or aromatic.
The global thermoplastic polyurethane market was valued at US$987.2 million in 2010 and is expected to reach US$1746.9 million by the end of 2018, growing at a healthy CAGR of 5.5% between 2013 and 2018.
Extrusion Application to Fuel Global Market for Thermoplastic Polyurethane
The global market for thermoplastic polyurethane is categorized by application into injection molding, paints and coatings, adhesives and sealants, and extrusion. Among the application classification, the extrusion segment has consistently dominated the global thermoplastic polyurethane market on the basis of revenue as well as volume. According to industry estimations, the extrusion segment will grow progressively at a CAGR of 5.1% in terms of volume and 5.7% in terms of revenue during the forecast period.
Thermoplastic polyurethane (TPU) can be processed through injection molding or on extrusion. It is highly versatile in nature and offers several structural advantages such as high resilience and high resistance to abrasions and tears.
Footwear and Automotive Industries Lead Global Thermoplastic Polyurethane Market
The global thermoplastic polyurethane market has been classified on the basis of its application across end-use industries such as electronics and appliances, wire and cable, footwear, construction, hose and tubing, automotive, and others (industrial insulation, case, etc). Thermoplastic polyurethane is used in industries where structural integrity is needed; in automobile manufacturing, it enhances abrasion resistance, compression set, and low-temperature flexibility.
Get Sample Report :
The global market for thermoplastic polyurethane is driven primarily by the growing footwear and automobile industries, both of which use thermoplastic polyurethane to make their respective products sturdier. The development of bio-based substitutes, increased use by major athletic footwear manufacturing companies, and potential demand from the medical industry are the biggest opportunities for the key players in the global market. However, growing environmental concerns about the usage of thermoplastic polyurethanes and volatility in raw material prices are the major factors acting as a restraint on the growth of the global thermoplastic polyurethane market.
Asia-Pacific to Lead Global Thermoplastic Polyurethane Market
The global thermoplastic polyurethane (TPU) market has been geographically segmented broadly into four regions, which are North America, EMEA (Europe, the Middle East, and Africa), Asia Pacific, and the Rest of the World. EMEA dominates the global market for thermoplastic polyurethane and is expected to grow substantially at a CAGR of 4.9% between 2012 and 2018. However, thermoplastic polyurethane market in Asia Pacific is expecting to dominate the global market by accounting for the largest market share in the forecast period.
China is considered the most lucrative market for thermoplastic polyurethane and is anticipated to grow progressively at a CAGR of 7.8% in the forecast period. In Europe, Germany dominates the thermoplastic polyurethane market in terms of revenue as well as volume, followed by Italy and the U.K.
The global market for thermoplastic polyurethane is expecting a boost in the forecast period due to its vast application and prospering end-use industries. As a result, many companies are now entering the thermoplastic polyurethane market to expand their business horizons. Some of the prominent players operating in the market are Bayer AG, Yantai Wanhua Polyurethane Co., Ltd., Merquinsa, Dow Chemicals, BASF, Lubrizol, Huntsman Corporation, and Nippon Polyurethane.
Browse Full Global Thermoplastic Polyurethane Market Report With Complete TOC