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Pulished Date April, 2021
ID: 8415
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Thermoplastic Polyurethane Market by Type (Polyester, Polyether and Polycaprolactone), End-Use Industry (Automotive, Footwear, Engineering, Building & Construction, Wire & Cables, Hose & Tubing and Medical) and Geography (North America, Latin America, Europe,Asia Pacific, Middle East & Africa) - Forecast Report from 2021 to 2026

Pulished: April, 2021
ID: 8415
Pages: 170

Thermoplastic Polyurethane (TPU) Market Size, Share & Forecast (2021 - 2026)

The global Thermoplastic Polyurethane (TPU) Market size was estimated to be $ 3.8 billion in 2021 and is predicted to reach $ 5.1 billion in 2026, with a CAGR of 9.8%.

Thermoplastic polyurethane can be defined as any liquid and gas manufactured for the transmission of heat from one unit to another. It is produced from highly refined petroleum, siloxanes or synthetic hydrocarbons. It is mainly employed as a coolant to prevent the device from overheating. It may have a higher viscosity than that of water. Provides low maintenance, safety and a long service life. Thermoplastic Polyurethane refers to a very versatile elastomer that exhibits unique characteristics that provide processing flexibility and superior performance. It is considered an ideal polymer for use in a wide variety of applications in various end use segments, including specialty mouldings, films and sheets, footwear, adhesives, wire and cable and composites. Thermoplastic Polyurethane has provided various benefits to various end users, manufacturers and designers for over 60 years.

The growing call for the product is likely to drive the worldwide thermoplastic polyurethane market in the coming years. Due to the expansion of end use industries, it is predicted to drive call for thermoplastic polyurethane throughout the forecast period. In addition, the steady expansion of the medical and healthcare industry owing to the increase in population, income levels and awareness coupled with technological advancements is predicted to further drive the expansion of the Thermoplastic Polyurethane market over the course of the forecast period. Thermoplastic polyurethane is extensively employed in automotive, construction, aerospace and medical industries for multiple applications due to its properties such as elasticity, transparency, and resistance to oil, grease and grease abrasion. In addition, thermoplastic polyurethane is biodegradable, environmentally friendly and fully recyclable, making it a suitable alternative to PVC and other polymers. This is predicted to be one of the major expansion factors of the market throughout the forecast period.

Recent Developments 

  • Lubrizol Corporation's Engineering Polymers business has released two latest thermoplastic polyurethane (TPU) resins for hot melt adhesives (HMA). These recent developments relate to the flexible polymer solutions of the Pearlbond 300 TPU series without plasticizers, which are distinguished by their low activation temperature and excellent bonding properties to various substrates.

  • In August 2018, BASF SE launched an advanced grade of thermoplastic polyurethane (TPU), Elastollan®, which is anticipated to develop the production of decorative shoe parts and cleats in high performance footwear while maintaining superior mechanical properties such as strength to UV.

Thermoplastic Polyurethane Market Drivers

The strong expansion of the automotive industry, driven by escalating disposable income per capita, rapid urbanization and economic expansion in the world, is predicted to be the main driver for the expansion of the worldwide thermoplastic polyurethanes market. In cars, thermoplastic polyurethane is employed as an alternative to metal to improve fuel efficiency by reducing the weight of the car. Thermoplastic Polyurethane, due to its properties such as toughness, abrasion resistance and FST compliance, is widely employed to manufacture various aircraft components and interior components such as electronic housings, armrests, seat covers high seat and contact surfaces.

Therefore, due to the strong expansion of the aerospace industry in the world, increase in air passenger traffic, the expansion of the travel and tourism industry and the increase in the population easy, the call for thermoplastic polyurethane in the aerospace industry is likely to expand. High disposable income and growing awareness of fitness are driving the call for athletic shoes around the world. Rising economic spending in developing countries along with the presence of large population are boosting the call for footwear which is predicted to contribute to the expansion of the global thermoplastic polyurethane (TPU) market throughout the forecast period. Due to its properties such as good flexibility, light weight, and ease of processing, TPU is preferred by several major shoe manufacturers. In addition to this, the growing attention to style, status and image is boosting sales of worldwide footwear brands, which bodes well for market expansion in the years to come.

Opportunities in the Thermoplastic Polyurethane Market

However, technological advancements in manufacturing various grades of TPU with latest properties supply expansion chances for TPU manufacturers. The change in focus towards the development of bio-based products and the increase in R&D activities are likely to create opportunities for the market in the years to come.

Challenges in the Thermoplastic Polyurethane Market

Price instability of raw materials is another challenge for the expansion of the global thermoplastic polyurethane market.

Thermoplastic Polyurethane Market Segmentation as per the research report until 2026.

Thermoplastic Polyurethane Market - By Raw Material

  • Polyols
  • Diisocyanate
  • Diols

Thermoplastic Polyurethane Market - By Type

  • Polyester
  • Polyether
  • Polycaprolactone

Thermoplastic Polyurethane Market - By End-use 

  • Footwear
  • Industrial Machinery
  • Automotive
  • Electronics
  • Medical

The footwear segment was the largest consumer of TPU in 2020, whereas, the automotive industry is projected to be the fastest-growing end-use industry throughout the forecast period.

Thermoplastic Polyurethane Market - By Region

The Thermoplastic Polyurethane Report includes the segmentation of Regions with their respective Countries.

  • North America Thermoplastic Polyurethane Industry includes U.S, Canada.

  • Europe Thermoplastic Polyurethane Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Thermoplastic Polyurethane Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Thermoplastic Polyurethane Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • Middle East & Africa Thermoplastic Polyurethane Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

APAC is predicted to record the highest expansion in the global TPU market throughout the forecast period. Call for TPU is high in developing economies like China and India. The expansion of the TPU market in the APAC region is mainly due to the escalating call for high performance materials. The increase in population and the expansion of end-use industries have led to innovation and development, making APAC a major industrial centre on a worldwide scale. Strong expansion and innovation, along with industry consolidations, are predicted to lead to rapid market expansion in the area. Asia-Pacific has dominated the worldwide thermoplastic polyurethane market and is predicted to maintain its dominance throughout the forecast period and experience strong expansion. This strong expansion in the thermoplastic polyurethane market is attributed to escalated automotive production, escalated construction spending, and the expansion of the electrical and electronics industry in countries like China, India, Japan and Indonesia.

The thermoplastic polyurethane market in North America is predicted to experience healthy expansion due to escalating application in the aerospace industry and escalated automotive production. Moreover, the resumption of expansion in the construction industry in the United States is predicted to support the market expansion throughout the forecast period. In addition, the trend in light vehicle manufacturing to improve fuel efficiency and strict environmental regulations are predicted to drive the expansion of the thermoplastic polyurethane market due to its light weight, high strength, and biodegradability. The Middle East, Africa and Latin America are predicted to experience significant expansion throughout the forecast period.

Some of the leading players in the global thermoplastic polyurethane market are BASF SE (Germany), Huntsman International LLC (US), Amco Polymers (US), Covestro AG (Germany), The Lubrizol Corporation (US), 3M (US), Permali Gloucester Limited (UK), Wanhua Chemical Group Co., Ltd. (China), American Polyfilm Inc. (US), Hexpol AB (Sweden), PolyOne Corporation (US), API Plastics (Italy), and Kuraray Co., Ltd. (Japan).

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Polyester 

                                5.1.3 Polyether

                                5.1.4 Polycaprolactone 

                                5.1.5  Y-o-Y Growth Analysis, By Type    

                                5.1.6  Market Attractiveness Analysis, By Type  

                                5.1.7  Market Share Analysis, By Type    

                5.2 End-Use Industry                     

                                5.2.1 Introduction           

                                5.2.2 Automotive            

                                5.2.3 Footwear 

                                5.2.4 Engineering            

                                5.2.5 Building & Construction     

                                5.2.6 Wire & Cables        

                                5.2.7 Hose & Tubing       

                                5.2.8 Medical    

                                5.2.9 Y-o-Y Growth Analysis, By End-Use Industry            

                                5.2.10 Market Attractiveness Analysis, By End-Use Industry        

                                5.2.11 Market Share Analysis, By End-Use Industry         

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By End-Use Indusrty

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By End-Use Indusrty

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By End-Use Indusrty

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 BASF Polyurethanes                               

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 The Lubrizol Corporation                      

                8.3 Covestro AG                              

                8.4 Huntsman Corporation                          

                8.5 Wanhua Chemical Group Co. Ltd.                     

                8.6 American Polyfilm Inc.                           

                8.7 Hexpol AB                   

                8.8 Kuraray Co. Ltd.                        

                8.9 API Plastics                 

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by end use,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Thermoplastic Polyurethane  Market By Region, From 2021-2026( USD Billion )

  2. Global Thermoplastic Polyurethane  Market By Type, From 2021-2026( USD Billion )

  3. Global Polyester Market By Region, From 2021-2026( USD Billion )

  4. Global Polyether Market By Region, From 2021-2026( USD Billion )

  5. Global Polycarpolactone Market By Region, From 2021-2026( USD Billion )

  6. Global Thermoplastic Polyurethane  Market By End-Use Industry, From 2021-2026( USD Billion )

  7. Global Automotive Market By Region, From 2021-2026( USD Billion )

  8. Global Footwear Market By Region, From 2021-2026( USD Billion )

  9. Global Engineering Market By Region, From 2021-2026( USD Billion )

  10. Global Building & Construction Market By Region, From 2021-2026( USD Billion )

  11. Global Wire & Cables Market By Region, From 2021-2026( USD Billion )

  12. Global Hose & Tubing Market By Region, From 2021-2026( USD Billion )

  13. Global Medical Market By Region, From 2021-2026( USD Billion )

  14. Global Thermoplastic Polyurethane  Market By Region, From 2021-2026( USD Billion )

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