PU films find numerous applications in the industries such as healthcare, automotive, aerospace, and others. Over the past decade, there has been a tremendous rise in the demand for luxury cars. This has significantly helped the PU films market expand its global footprints. Moreover, growing purchasing power and a rise in disposable income have given a thrust to the market’s growth.
Below are a few notable developments in the global PU films market:
Prominent players in the global PU films market include SWM International, Avery Dennison, DingZing Advanced Materials, RTP Company, Covestro, and MH&W International.
PU films offer excellent tensile strength and low-temperature flexibility making them suitable for a variety of applications. This is a key factor boosting the growth of the global PU films market. Moreover, they are highly cost-efficient and easy to process, leading to high demand from the textile and leisure industry. This may also contribute to an upswing of the market.
Recent technological developments have led to the development of high-performance films that help in reducing the overall weight of the vehicles. Consequently, there is a high demand for PU films from the automobile sector, thereby expediting its growth. Moreover, PU films are an apt substitute for metal components in aircraft which has further presented lucrative growth opportunities for the global PU films market.
Furthermore, PU films find numerous applications in the construction industry owing to their high tensile strength. Along with this, they offer microbial resistance which led to tremendous demand from the diagnostics sector. PU films are extensively used for patient care, in surgical applications, and laboratories. This has impacted the global PU films market favorably, thus stimulating its growth.
On the regional front, Asia Pacific leads the global PU films market owing to an expansion of the automotive and construction industries. Rising disposable income has also contributed to the market’s expansion in this region. North America is also expected to emerge as a key region for the PU films market. The growth in this region can be attributed to high investment in infrastructure and expanding aerospace sector. Moreover, the rising popularity of luxury vehicles has spiked the market’s growth in this region.