Asia-Pacific Thermoplastic Polyurethane Market, By Raw Material (Diisocyanate, Polyols, Diols, Others), Type (Polyester, Polyether, Polycaprolactone), End-User (Building and Construction, Textile, Sports and Leisure, Consumer Goods, Footwear, Industrial Machinery, Automotive, Medical, Electronics, Heavy Engineering, Others) – Industry Trends and Forecast to 2030.
Asia–Pacific Thermoplastic Polyurethane Market Analysis and Size
The region is the biggest supplier of products through e-commerce due to the high availability of manufacturing units. Asia-Pacific region is dominating due to the population of the countries like China and Japan is huge which boosts the demand for Thermoplastic polyurethane (TPU). The growing awareness of the product among the population is another reason for the increasing demand for thermoplastic polyurethane (TPU).
Data Bridge Market Research analyses that the thermoplastic polyurethane market, which was USD 2,598.95 million in 2022, would rocket up to USD 3,457.92 million by 2030 and is expected to undergo a CAGR of 7.4% during the forecast period.
The polyester of thermoplastic polyurethane (TPU) products is the leading segment in the automotive sector Thermoplastic polyurethane market owing to growing demand in paint and coatings. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Asia–Pacific Thermoplastic Polyurethane Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2014-2019) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
Raw Material (Diisocyanate, Polyols, Diols, Others), Type (Polyester, Polyether, Polycaprolactone), End-User (Building and Construction, Textile, Sports and Leisure, Consumer Goods, Footwear, Industrial Machinery, Automotive, Medical, Electronics, Heavy Engineering, Others) |
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Countries Covered |
Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific |
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Market Players Covered |
HEXPOL AB (Sweden), AVERY DENNISON CORPORATION (U.S.), Huntsman International LLC (U.S.), Avient Corporation (U.S.), Tosoh Corporation (Japan), BASF SE (Germany), Coim Group (Italy), Covestro AG (Germany), Kolon Industries, Inc. (South Korea), KURARAY CO.,LTD. (Japan), Mitsui Chemicals, Inc. (Japan), Novotex Italiana S.p.A. (Italy), SONGWON (South Korea), Taiwan PU Corporation (Taiwan), The Lubrizol Corporation (A subsidiary of Berkshire Hathaway Inc.) (U.S.), and Wanhua Chemical Group Co., Ltd (China) among other players |
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Market Opportunities |
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Market Definition.
Thermoplastic polyurethane (TPU) is a low-priced commercial thermoplastic elastomer. They are block copolymers consisting of alternating hard and soft segments produced by diisocyanate interacting with polyester or polyether diols. The features of rubber are paired with thermoplastic manufacturing advantages. These are melt-processed, such as regular thermoplastics, and can be sprayed, bowed, and compressed. Such translucent elastomers have strong tensile strength, impact resistance, and decent stability at high elasticity and low temperature. Abrasion, oxidation, aliphatic solvents, oil-based liquids, and fats are all particularly immune.
TPU is elastic and melt-processable, like other thermoplastic elastomers. In addition, extrusion and infusion, blast, and compression machines may be handled. This may be vacuum-shaped or solution-coated and is ideal for various processing methods. Several processes may also color the TPU. Yet TPU can offer many physical property combinations more than any other thermoplastic elastomer and can be used as an extremely flexible substrate for hundreds of applications.
Asia–Pacific Thermoplastic Polyurethane Market Dynamics
Drivers
- Rising consumption of TPU in automotive
The automobile industry is one of the best applications for polyurethane materials. Almost all polyurethane types are used in vehicles. Every light vehicle ends with 62 livres of polyurethane materials, growing continuously, and accounting for 18.1% of all light-duty plastics/composites. Acrylic materials are lighter in weight than alternative materials, and polyurethanes play a significant part when working towards better fuel consumption. Therefore, the rising consumption of TPU in automotive is expected to drive the Asia-Plastic thermoplastic polyurethane (TPU) market growth during the forecast period.
- Shift from PVC in the medical industry
Thermoplastic Polyurethane (TPU) is well known and stipulated in the healthcare profession for sophisticated healthcare provider product lines due to the high technical specifications. Due to its mechanical properties, durability, and opposition to oils and chemicals, TPU is highly desirable for medical applications. Since TPU does not include plasticizers, it provides an environmentally safe PVC alternative to the medical industry without losing versatility.
Therefore, the shift from PVC in the medical industry will drive the growth of the Asia-Plastic thermoplastic polyurethane (TPU) market shortly.
Opportunities
- Increasing demand for bio-based polymer products
Bio-based polymer products are being preferred by more and more consumers to reduce their dependence on non-renewable energy, such as oil, and to promote sustainable growth in the polymer material industry. Organic thermoplastic elastomers are a material produced out of biomass monomers with rather renewable supplies, as their monomers come from animals in nature. This growing demand and developments in bio-based polymers such as TPU can create an opportunity to expand their market.
Restraints/Challenges
The drying temperature is important since hygroscopic materials like TPU will shape intermolecular bonds between water molecules. If this happens, the intermolecular bonds must be dissolved by the sun. Excess heat may cause oxidation, premature yellowing, and/or thermal decrease as the resin dries more rapidly at higher temperatures. The dew point air in the drying machinery, in addition to moisture, defines the degree of dryness of the resin. The dew point is the temperature to be changed to achieve the relative humidity level of 100% (dew droplets). This Hygroscopic nature can create some challenges in the manufacturing process so it may restrain the growth of the Asia-Pacific TFU market in the forecast period of 2023-2030.
This thermoplastic polyurethane market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the thermoplastic polyurethane market, contact Data Bridge Market Research for an Analyst Brief, and our team will help you make an informed market decision to achieve market growth.
Recent Development
- In August 2022, BASF launched RODIM, a thermoplastic polyurethane paint protection film that offers improved protection for car paints. BASF launched the product due to surging demand in China and to broaden their product portfolio.
Asia-Pacific Thermoplastic Polyurethane Market Scope
The thermoplastic polyurethane market is segmented based on type, price range, application, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.
Raw Material
- DIISOCYANATE
- POLYOLS
- DIOLS
- OTHERS
Type
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
End-User
- BUILDING AND CONSTRUCTION
- BUILDING AND CONSTRUCTION TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
TEXTILE
- TEXTILE, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
SPORTS AND LEISURE
- SPORTS AND LEISURE, BY END-USER
- IN-LINE SKATES
- SKI BOOTS
- OTHERS
SPORTS AND LEISURE, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
CONSUMER GOODS
- CONSUMER GOODS, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
FOOTWEAR
- FOOTWEAR, BY END-USER
- SHOE
- SOLE
- SLIPPER
- OTHERS
- FOOTWEAR, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
INDUSTRIAL MACHINERY
- INDUSTRIAL MACHINERY, BY END-USER
- SEALS AND GASKETS
- BELTS AND PROFILES
- WHEELS AND ROLLERS
- HOSES AND TUBING
- OTHERS
- INDUSTRIAL MACHINERY, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
AUTOMOTIVE
- AUTOMOTIVE, BY END-USER
- INTERIOR PARTS
- EXTERIOR PARTS
- AUTOMOTIVE, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
MEDICAL
- MEDICAL, BY END-USER
- CATHETERS
- MEDICAL DEVICE HOUSING
- WOUND CARE PRODUCTS
- OTHERS
- MEDICAL, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
ELECTRONICS
- ELECTRONICS, BY END-USER
- WIRES AND CABLES
- ELECTRONIC DEVICES
- OTHERS
ELECTRONICS, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
HEAVY ENGINEERING
- HEAVY ENGINEERING, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
- OTHERS
OTHERS, TYPE
- POLYESTER
- POLYETHER
- POLYCAPROLACTONE
Asia-Pacific Thermoplastic Polyurethane Market Regional Analysis/Insights
The thermoplastic polyurethane market is analyzed, and market size insights and trends are provided by country, type, and application, as referenced above.
The countries covered in Asia-Pacific thermoplastic polyurethane (TPU) market report are Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines, and the rest of Asia-Pacific.
Japan in the Asia-Pacific thermoplastic polyurethane (TPU) market is dominating the market due to increasing sales of online products which boosts the demand for thermoplastic polyurethane (TPU) in the region.
The country section of the report also provides individual market-impacting factors and domestic regulation changes that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Plastic brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Thermoplastic Polyurethane Market Share Analysis
The thermoplastic polyurethane market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Plastic presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points only relate to the companies focus on the market.
Some of the major players operating in the thermoplastic polyurethane market are:
- HEXPOL AB (Sweden)
- AVERY DENNISON CORPORATION (U.S.)
- Huntsman International LLC (U.S.)
- Avient Corporation (U.S.)
- Tosoh Corporation (Japan)
- BASF SE (Germany)
- Coim Group (Italy)
- Covestro AG (Germany)
- Kolon Industries Inc. (South Korea)
- KURARAY CO. LTD. (Japan)
- Mitsui Chemicals Inc. (Japan)
- Novotex Italiana S.p.A. (Italy)
- SONGWON (South Korea)
- Taiwan PU Corporation (Taiwan)
- The Lubrizol Corporation (A subsidiary of Berkshire Hathaway Inc.) (U.S.)
- Wanhua Chemical Group Co. Ltd (China)
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