Thermoplastic Polyurethane (TPU) Market 2022-2030: Report, Size, Growth, Opportunity and Forecast
The market is expected to attain a global CAGR of 7.1% and hence, reach a market value worth USD 3.5 billion by the end of the forecast period in 2028
Argotec, LLC, one of the leading manufacturers of thermoplastic polyurethane film announced that the company acquired Stevens Urethane, a U.S.-based organization. With this integration, the company had the necessary technical and manufacturing resource to meet the rapidly rising demand for thermoplastic polyurethane film.
Thermoplastic Polyurethane Films Market Overview
Thermoplastic Polyurethane Films are predominantly utilized in various end-use applications such as building & construction, railways, automotive, aerospace, energy, furniture, and others. The Thermoplastic Polyurethane Films market is expected to witness robust growth on account of rising demand from the building & construction sector along with continuous growth of the automotive as well as aerospace industries across the globe. Moreover, among the type segment polyester accounted for the largest market share in 2016 on account of their unique properties such as moisture and oil resistance and protection from abrasion. Polycaprolactone is predicted to register strong growth due to their biodegradable nature. Among the application segment, automotive holds the largest market share due to increasing automotive production and sales across the globe.
Geographically, Asia Pacific emerged as the largest market for Thermoplastic Polyurethane Film followed by North America and Europe. The Asia Pacific Thermoplastic Polyurethane Films Market is estimated to witness tremendous growth with a significant CAGR over the assessment years owing to rising demand from building & construction as well as the automotive sector. In addition, the demand for Thermoplastic Polyurethane Films is estimated to surge in various countries of Asia Pacific such as China, India, Thailand, and South Korea on account of growing construction activities along with high adoption rates from various end-use industries.
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Moreover, rising investment by dominating market players in their innovation and research & development activities and shifting of Thermoplastic Polyurethane Films production facilities as well as tremendous growing base of numerous end use industries in this region is estimated to fuel the Thermoplastic Polyurethane Films regional market growth. North American market is estimated to witness strong growth owing to increasing demand for paint protection and wrap films which is made from Thermoplastic Polyurethane Films. North American market is further categorized into U.S. and Canada, among them U.S. accounted for the major contributor in the regional market growth on account of strong growth of automotive and aerospace sector. European market is predicted to witness moderate growth owing to growing awareness regarding the benefits associated with the product as well as growing utilization in automobile and furniture industries. Moreover, emerging economies of Latin America and the Middle East & Africa such as Turkey, the United Arab Emirates, Iran, Israel, Brazil, and Mexico are expected to witness above average growth due to rising disposable income combined with strong consumer base for automotive and railways sector.
Competitive Landscape:
The Thermoplastic Polyurethane Films report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The Global Thermoplastic Polyurethane Films Market includes numerous manufacturers operating in the market which is comprised of large scale and medium-scale producers. Some of the prominent market players operating in the Global Thermoplastic Polyurethane Films Industry has shifted their focus towards growth association specifically by Asia Pacific as moderate-level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Along with this, the key manufacturers are focusing on expanding their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are escalating their manufacturing capacity of Thermoplastic Polyurethane Films to meet the rising demand for thermoplastic polyurethane films. Apart from this, many key players has launched a series of product to solidify their position in the market.
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