According to Acumen Research and Consulting, the global Thermoplastic Polyurethane (TPU) Films market is expected to grow at noteworthy CAGR around 5.9 % throughout the forecast period and reach around US$ 6.22 billion by 2026.
The report provides analysis of global Thermoplastic Polyurethane (TPU) Films market for the period 2016-2026, wherein 2019 to 2026 is the forecast period and 2017 is considered as the base year.
Polyurethane is an polyurethane plastics division that is created between a single or more long or short chain diols and a diisocyanate through the polyaddition reaction. Thermoplastic polyurethane films offer great abrasion resistance, incredible flexibility and outstanding tightness. These films are used in many industries, including building, aerospace, automotive and energy. The TPUs can be turned into fine strings to create lighter, extendable parts of clothing and be connected with nylon. With these methods, manufacturers can wear the foot on a wide range.
The product needs are projected to be enhanced by properties like waterproofness, high resilience, and cool temperature resistance. Increased product use is projected to be the key market driving factor in the period of forecasting. Polyurethane films for thermoplastic are versatile elastomers that can be used in various applications. In addition, they are suitable for various industrial applications by other characteristics, such as chemical, puncture, abrasion and rashes. Due to a period of stability in the automotive industry, worldwide demand for TPU films has increased in recent years. Outer applications include scratch protection, paint protection, counter stone chipping, rear bumper and cowl protection, which are important for automotive applications. It is produced from polyurethane polyether (PU) or polyester polyurethane TPU pellets.
Also used as the raw material in the manufacture of PU is methylenediphenyl diisocyanate (MDI). The use of polyether polyurethans requires low flexibility, hydraulic stability and fungal resistance to end use applications. Thermoplastic polyurethans provide a holistic approach to the production of automotive components by covering all the aspects that car manufacturers greatly prefer.
The growth of high-performance films has made it possible for automakers to significantly decrease the total weight of vehicles, which results in greater fuel efficiency. The growth of the entire market is also anticipated to boost rapid expansion of the construction industry in emerging regions such as Asia Pacific. The economic fundamentals of Asia remain stable despite economic turmoil in most other regions of the world. GDP growth is expected to reach around 7 percent per year by the turn of the decade, and over the forecast years, the region is expected to grow the fastest.
For further study on the type of polyester TPU, polyether TPU, and polycaprolacone TPU, the global thermoplastic polyurethane film market was segmented. The market consists of aerospace, construction and construction, energy, cars, furniture, footwear and others based on the user segment. This includes a large market share in the automotive industry that could be attributed to the increasing replacement of heavy metals with lightweight material to enhance automobile efficiency. In addition, as a result of increasing use of thermoplastic material in walls and insulation, the construction and building end-use segment is set to increase quickly.
The automotive segment was around 23% the highest in 2018 and is expected to expand from 2019 to 2025 at CAGR of over 6%. Growing vehicle production contributes to the growth of the segment. This product is suitable for use in airbags, acoustic panels, door panels and vibration control panels. The product is likely to replace metal and plastic components in aviation; therefore, a steady growth is also expected in the aerospace segment. In addition, as a result of technological advances and increased levels of consumer disposable revenue, expansion of the aviation sector in emerging countries will push the segment further.
TPU movies are used to make waterproof handkerchiefs and clothing, breathable socks, shoes, hats... The demand for the leisure and sport segments is expected to drive this. The growing demand for sportswear is expected to boost demand for the product. In the next few years, government support for sport and fitness will also fuel the segment growth. TPU films are highly extensible and tear-resistant, because these films are used to manufacture industrial fabrics in conjunction with textiles in the construction industry.
The increasing population is expected to boost the construction and construction application segment in developing countries, such as China and India. In medical application, their demand is driving fast expansion in the medical industry. The market is predicted to be spurred by the development of surgical and diagnostic applications for patient data management, laboratories and patient care. Another contribution to the segment is the increase in government health spending, supported by increasing populations.
The largest and quickest growing regional market is expected in Asia Pacific. The regional growth will likely be stimulated by government policies that promote different industries, combined with the expansion of the medical, automotive and construction industries in the region. Increasing levels of consumer availability are expected to contribute to the expansion of the TPU Films market.
The market is probably also boosted by government support to increase FDI flow and increase expenditure capacity in many of the developing countries. Increasing demand from industries such as railways, buildings, construction, aerospace and energy will also be driven by a focus on infrastructure development.
In 2018, North America gained a over 32 percent share in revenues. The region is characterized by the presence of aerospace and component manufacturers of medium and large size. More production of agriculture is also projected to support overall market growth in countries such as China, the US, India, Brazil, Mexico and Russia. In the next few years, emerging applications including animal identity tags will provide the global market with growth opportunities.
The market research study on “Thermoplastic Polyurethane (TPU) Films Market (By Application: Automotive, Leisure, Building & Construction, Railway, Energy, Aerospace, Furniture, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Thermoplastic Polyurethane (TPU) Films market segments with market dynamics and their impact. The report provides insights on global Thermoplastic Polyurethane (TPU) Films market by application and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Thermoplastic Polyurethane (TPU) Films segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
The Thermoplastic Polyurethane (TPU) Films market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are MH&W International Corp, Permali Gloucester Ltd., Avery Dennison, BASF SE, Nippon Polyurethane & Lubrizol. Huntsman Corporation, 3 M Company, PAR Group, MH&W International Corp. among others.
With the attendance of many small and medium-sized manufacturers, the market is fragmented. The strong presence of local manufacturers and suppliers, particularly in China, is one of the main reasons for market fragmentation. In addition, companies focus on product adaptation, strategic partnerships and new customer acquisitions to gain more market shares.
A thorough study of the global thermoplastic polyurethane film market is provided in a ARC report, while a rich analysis of the situation in the market is carried out, focusing on their drivers, opportunities, restrictions and trends. The report examines the outcome of the product in the industries and applications concerned. The global reports provide comprehensive data on procedures which current market vendors might try to gain momentum alongside an examination of new players ' entry points.