Thermoplastic Polyurethane Films Market
Thermoplastic Polyurethane Films Market (Product Type - Polyester TPU, Polyether TPU, and Polycaprolactone TPU; End Use - Automotive, Building & Construction, Furniture, Aerospace, Footwear, Energy, Medical & Healthcare, Recreation, and Flexible Packaging) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
The demand within the global thermoplastic polyurethane films market is set to rise at a sturdy pace in the years to follow. It is expected that advancements in the chemical industry have played a crucial role in creating a seamless sector for market growth and maturity. Chemical research experiments have played a defining role in imparting core knowledge to researchers. The splendid properties of thermoplastic polyurethane has led to its usage across a multitude of manufacturing industries. From automobiles to apparels, thermoplastic polyurethane comes in handy for manufacturing hard boxes, footwear, and other similar products. Therefore, the revenue index of the global thermoplastic polyurethane films market is projected to improve in the years to follow.
- The packaging industry has gained traction from several other industries. The importance of packaging for all major manufacturing units has given rise to the trend of package testing. Under this practice, packaging of items and goods is tested before being loaded on to the supply trucks. The use of thermoplastic polyurethane films for adding a layer of strength to the packaging of goods has given a thrust to market growth. Furthermore, long and disruptive supply chains have also emerged as a reason behind the use of resistive materials such as thermoplastic polyurethane films within packaging.
- Use of thermoplastic polyurethane films as extruded films has also created fresh opportunities for market growth and maturity. In the contemporary times, thermoplastic polyurethane films are also being used for packaging differentiation. These films are available in various colours, and this has helped manufacturers in better positioning their products. The growing focus of various companies towards improving the packaging standards and aesthetics of their products has driven sales across the global market. As new packaging technologies emerge in the market, the thermoplastic polyurethane films market shall tread along a lucrative path.
Global Thermoplastic Polyurethane Films Market: Overview
Thermoplastic polyurethane is a division of polyurethane plastics that is created by a polyaddition reaction between a single or multiple long- or short chain diols and a diisocyanate. Thermoplastic polyurethane films feature a great resistance to abrasion, amazing flexibility, and excellent toughness. The films are used in a multitude of industries such as construction, aerospace, automotive, and energy. TPUs can be made into fine strings, and can be joined with nylon to make more lightweight, stretchable pieces of clothing. In view of these methods, producers can make a wide scope of foot wear. Different evaluations of thermoplastic polyurethane can give a scope of hardness to convey the required measure of flexibility and friction. Attributable to enhanced biocompatibility, hydrolytic solidness, biostability, versatility, elasticity, high rigidity and abrasion resistance, thermoplastic polyurethane is utilized in various other medical and therapeutic applications. On account of the multitude of applications that TPF offer, the global thermoplastic polyurethane films market is expected to grow substantially over the coming years.
The market intelligence report provides an in-depth study of the global thermoplastic polyurethane films market while providing a rich analysis of the market situation, with detailed focus on its drivers, opportunities, restraints and trends. The report delves into the resultant of the product in associated industries and application areas. The global reports provides exhaustive information on the procedures that current vendors in the market could attempt so as to pick up momentum in the business, alongside an examination on entry points for new players. The market intelligence study represents an intensive guide on the global market for thermoplastic polyurethane films over the duration of forecast.
Automotive, Construction to Account for Key Market Shares
The global thermoplastic polyurethane films market has been segmented for further study in terms of type into polyester TPU, polyether TPU and polycaprolactone TPU. Based on the end-user segment the market comprises of aerospace, building and construction, energy, automotive, furniture, footwear, and others. Among these, the automotive segment hold a significant market share which could be attributed to the increasing replacement of heavy metals by lightweight materials for improved efficiency of automobiles. Furthermore, the end-use segment of construction and buildings segment is slated to rise at a rapid rate on account of rising adoption of thermoplastic materials in walls, insulation, and flooring. Aerospace is likely to emerge as a swiftly growing application area in the forthcoming years.
Europe to Remain Prominent Regional Market
The report analyzes the global thermoplastic polyurethane market in terms of geography by dividing it into- Asia Pacific, Europe, North America, South America, and the Middle East and Africa. The market in Europe currently dominates the global thermoplastic polyurethane market in terms of revenue, benefitted by the presence leading automobile vendors across the globe. The steady recovery of the automotive industry post the recent economic slowdown in the region is expected to offer lucrative growth opportunities to market vendors.
Due to growing expansion of existing facilities by established market players coupled with emergence of favorable government policies regarding textile trades, Asia Pacific is prognosticated to hold immense market potential. Additionally, growing infrastructure industries along with the rising disposable over forecast period in the region.
The global TPU films market is currently fragmented due to strong presence of local manufacturers and suppliers in various regions, particularly in China.
Leading vendors operating in the global thermoplastic polyurethane films market are BASF SE, Shanghai Lejoin Polyurethane Industrial Co., The Lubrizol Corporation, Tosoh Corporation, Wanhua Chemical Group Co., Ltd., and Huntsman Corporation.