Global Thermoplastic Polyurethane Market, By Raw Material (Diisocyanate, Polyols, Diols, Others), Type (Polyester, Polyether, Polycaprolactone), End-User (Footwear, Industrial Machinery, Automotive, Electronics, Medical, Consumer Goods, Sports and Leisure, Building and Construction, Textile, Heavy Engineering, Others) - Industry Trends and Forecast to 2030.
Thermoplastic Polyurethane Market Analysis and Size
Thermoplastic polyurethane is a versatile synthetic material with a wide range of applications across various industries. It is known for its unique combination of properties, making it a popular choice for manufacturing products that require flexibility, durability, and resistance to abrasion, chemicals, and weather conditions. It is commonly used in the manufacturing of footwear, including shoe soles and flexible components, due to its excellent abrasion resistance and flexibility, providing comfort and long-lasting wear. It is also utilized in the production of phone cases, protective sportswear, and medical devices, where its softness and resistance to body fluids make it a suitable material. One of the key advantages of the polymer is its thermoplastic nature, allowing for easy processing through methods like injection molding and extrusion. Due to mention above all the reason it is considered that there will be an upsurge in the global thermoplastic polyurethane market in the forecast period of 2023 to 2030.
Data Bridge Market Research analyses that the global thermoplastic polyurethane market which was USD 3.08 billion in 2022, is expected to reach USD 5.54 billion by 2030, and is expected to undergo a CAGR of 7.60% during the forecast period of 2023 to 2030. “Polyester” dominates the type segment of the global thermoplastic polyurethane market due to its excellent balance of strength, flexibility, and chemical resistance. 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
Thermoplastic Polyurethane Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Raw Material (Diisocyanate, Polyols, Diols, Others), Type (Polyester, Polyether, Polycaprolactone), End-User (Footwear, Industrial Machinery, Automotive, Electronics, Medical, Consumer Goods, Sports and Leisure, Building and Construction, Textile, Heavy Engineering, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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KURARAY CO., LTD. (Japan), BASF SE (Germany), The Lubrizol Corporation (U.S.), Covestro AG (Germany), Taiwan PU Corporation (Taiwan), Novotex Italiana S.p.A. (Italy), AMERICAN POLYFILM, INC. (U.S.), Coim Group (Italy), Mitsui Chemicals, Inc. (Japan), Sanyo Corporation of America (U.S.), Huntsman International LLC (U.S.), Wanhua Chemical Group Co., Ltd. (China), Avient Corporation (U.S.), HEXPOL AB (Sweden), SONGWON (South Korea), AVERY DENNISON CORPORATION (U.S.), Tosoh Corporation (Japan), and Kolon Industries, Inc (South Korea)
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Market Opportunities
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Market Definition
Thermoplastic polyurethane is extensively used across construction, automotive, aerospace and medical industry for numerous applications due to its properties such as transparency, elasticity, and resistance to oil, grease, and abrasion. Moreover, thermoplastic polyurethane is environment-friendly, biodegradable and fully recyclable, that makes it a suitable alternative to PVC and various other polymers.
Global Thermoplastic Polyurethane Market Dynamics
Drivers
- Expansion in the Automotive Industry
The rise in the expansion in the automotive industry across the globe acts as one of the major factors driving the growth of global thermoplastic polyurethane market. The product is widely being utilized in automobile components, such as seats, doors, vehicle wiring, attachment clips, and airbags, among others.
- Adoption by Footwear Manufacturers
The widespread adoption of thermoplastic polyurethane by footwear manufacturers for producing soles for safety shoes due to their abrasion resistance, slip, and aesthetic properties accelerate the market growth. The increase in the demand for TPU in automotive and medical industries has a positive impact on the market.
Opportunity
- Immense Potential in 3D Printing
Thermoplastic polyurethane is increasingly used in 3D printing due to its unique properties. Thermoplastic polyurethane filaments, known for their flexibility and elasticity, enable the creation of flexible and durable 3D printed objects. This makes thermoplastic polyurethane a preferred material for producing items like phone cases, shoe soles, gaskets, and custom-fit wearables. As 3D printing technology continues to advance, thermoplastic polyurethane role in creating functional, customized, and innovative products is expected to expand further.
Restraint/Challenge
- Volatility of Raw Material Prices
Thermoplastic polyurethane is derived from petrochemical feedstocks, primarily isocyanates and polyols, and its price can be influenced by fluctuations in the cost of these key ingredients. Factors such as changes in oil prices, global supply and demand dynamics, and geopolitical events can all impact the pricing of thermoplastic polyurethane raw materials.
This global 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 global thermoplastic polyurethane market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In February 2023, Covestro is set to construct its largest Thermoplastic Polyurethanes facility in Zhuhai, China. The project, located in the Zhuhai Gaolan Port Economic Development Zone, will be developed in three phases, with the first phase scheduled for completion by late 2025, achieving a production capacity of approximately 30,000 tons per year. The entire site, anticipated to be completed by 2033, will encompass 45,000 square meters, producing nearly 120,000 tons of polymer annually
Global Thermoplastic Polyurethane Market Scope
The global thermoplastic polyurethane market is segmented on the basis of raw material, type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
- Diisocyanate
- Polyols
- Diols
- Others
Type
- Polyester
- Polyether
- Polycaprolactone
End-User
- Footwear
- Industrial Machinery
- Automotive
- Electronics
- Medical
- Consumer Goods
- Sports and Leisure
- Building and Construction
- Textile
- Heavy Engineering
- Others
Global Thermoplastic Polyurethane Market Regional Analysis/Insights
The global thermoplastic polyurethane market is analysed and market size insights and trends are provided by raw material, type and end-user are referenced above. The countries covered in the thermoplastic polyurethane market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America region is dominating the thermoplastic polyurethane market due to the rise in the workover and completion and production sector applications and rise in the usage and demand for shale gas from the various industry verticals within the region.
Asia-Pacific region had the highest growth rate in the thermoplastic polyurethane market due to the rise in the usage and demand from the various industry verticals, increase in the levels of urbanization and population within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global 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 Global Thermoplastic Polyurethane Market Share Analysis
The global thermoplastic polyurethane market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global thermoplastic polyurethane market.
Some of the major players operating in the global thermoplastic polyurethane market are:
- KURARAY CO., LTD. (Japan)
- BASF SE (Germany)
- The Lubrizol Corporation (U.S.)
- Covestro AG (Germany)
- Taiwan PU Corporation (Taiwan)
- Novotex Italiana S.p.A. (Italy)
- AMERICAN POLYFILM, INC. (U.S.)
- Coim Group (Italy)
- Mitsui Chemicals, Inc. (Japan)
- Sanyo Corporation of America (U.S.)
- Huntsman International LLC (U.S.)
- Wanhua Chemical Group Co., Ltd. (China)
- Avient Corporation (U.S.)
- HEXPOL AB (Sweden)
- SONGWON (South Korea)
- AVERY DENNISON CORPORATION (U.S.)
- Tosoh Corporation (Japan)
- Kolon Industries, Inc. (South Korea)
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