Thermoplastic Polyurethane (TPU) Films Market: Snapshot
The global market for thermoplastic polyurethane (TPU) films is primarily fueled by their rising usage across the automotive and construction industries. Thermoplastic polyurethane is the class of elastomers that are entirely thermoplastic in nature, exhibiting properties such as excellent elasticity, low weight and resistance to degrading factors such as abrasion, chemicals, oil, and moisture. Owing to their excellent structural integrity, TPU films find extensive usage across several industry verticals and are expected to continue to fetch demand at a promising rate in the next few years.
The thriving automotive and construction industries, two of the most lucrative end-use sectors for TPU films, will have a significant impact on the future development of the market. Transparency Market Research estimates that the market will exhibit a promising 6.8% CAGR over the period between 2016 and 2024, rising from a valuation of US$286.8 mn in 2015 to US$516.9 mn by 2024.
Rising Demand for Lightweight Vehicles to Remain Key to Market Growth
The lightweight and excellent structural integrity allows TPU films to be used across a large set of application areas in a number of industries such as automotive, building and construction, furniture, footwear, energy, aerospace, medical and healthcare, and flexible packaging. Of these, the automotive and construction industries have contributed the dominant share in revenue to the global TPU films market consistently over the past few years. The automotive industry, especially, is emerging as one of the leading consumers of TPU films to manufacture lightweight body parts and components. The automotive sector led the market in terms of volume in 2015, followed by the construction sector.
Owing to the excellent moisture, chemicals, oils, abrasion, and tear resistance properties of TPU films, they also find extensive usage in the construction industries. The thriving growth of the industry, especially in developing economies owing to the rapid rate of urbanization and construction of new buildings and public infrastructure is the key factor to have led the excellent demand for TPU films in the construction sector over the past years. The trend is expected to remain strong in the near future as well.
Europe Market to Continue to Account for Massive Chunk in Revenue
From the regional perspective, the report segments the global TPU films market into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Of these, the Europe market is presently the leading contributor to the revenue of the global market, thanks to the presence of some of world’s leading automobile manufacturers. Recovery of the automotive company post the recent economic slowdown in the region will again open growth avenues for the TPU films market, allowing the region to remain at the forefront of the global market in the next few years as well.
The Asia Pacific market is also expected to embark upon high-growth path in the next few years, chiefly owing to the burgeoning construction sector in developing economies and rising production of vehicles in China, Japan, and South Korea. The Asia Pacific market for TPU films held a significant 35% of the global market in 2015 and is expected to see a sizeable gain by 2024. Within the Asia Pacific region, China is by far the most lucrative market for TPU films, in terms of both revenue and volume.
The global TPU films market features a largely fragmented vendor landscape owing to the presence of a large number of small and large players. Some of the market’s leading players are The Lubrizol Corporation, Huntsman Corporation, BASF SE, Wanhua Chemical Group Co., Ltd., Shanghai Lejoin Polyurethane Industrial Co., Huafon Group, Ltd., Tosoh Corporation, Polyol Macromolecule Polymer (Fujian) Co., Ltd., and Covestro AG.
TPU Films Market: Scope of the Study
The report estimates and forecasts the thermoplastic polyurethane (TPU) films market on the global, regional, and country levels. The study provides forecast between 2016 and 2024 based on volume (tons) and revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the thermoplastic polyurethane films market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the thermoplastic polyurethane films market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitutes of TPU films. It also provides the global average price trend analysis.
The report includes Porter’s Five Forces Model to determine the degree of competition in the thermoplastic polyurethane films market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for TPU films between 2016 and 2024.
TPU Films Market: Segmentation
The study provides a comprehensive view of the TPU films market by dividing it into product segments, end-user and geography. The TPU films market has been segmented into polyester TPU, polyether TPU and polycaprolactone TPU. The end-user segment include automotive, building & construction, furniture, aerospace, footwear, energy and others. Product & End-user segments have been analyzed based on historic, present, and future trends, and the market has been estimated in terms of volume (tons) and revenue (US$ Mn) between 2016 and 2024.
Regional segmentation includes the current and forecast demand for TPU films in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Key countries such as the U.S., Germany, France, the U.K., Spain, Italy, India, China, South Africa, Mexico, and Brazil have been included in the study.
TPU Films Market: Competitive Landscape
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include BASF SE, Covestro AG, The Lubrizol Corporation, Huntsman Corporation, and Polyol Macromolecule Polymer (Fujian) Co., Ltd. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
TPU Films Market: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The thermoplastic polyurethane films market has been divided into the following segments:
Thermoplastic Polyurethane Films Market – Product Analysis
- Polyester TPU
- Polyether TPU
- Polycaprolactone TPU
Thermoplastic Polyurethane Films Market – End-user Analysis
- Building & Construction
- Others (including medical & health care, flexible packaging, and recreation)
Thermoplastic Polyurethane Films Market – Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America