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Thermoplastic Polyurethane Market by Raw Material, Type, End-use industry, Region - Global Forecast to 2024

Thermoplastic Polyurethane Market by Raw Material, Type, End-use industry, Region - Global Forecast to 2024

  • November 2019
  • 163 pages
  • ID: 4784298
  • Format: PDF
  • By MarketsandMarkets

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The TPU market is projected to register a CAGR of 7.1%, in terms of value, between 2019 and 2024.
The market size of TPU is estimated at USD 2.5 billion in 2019 and is projected to reach USD 3.5 billion by 2024, at a CAGR of 7.1%. The growth of this market is attributed to increasing consumer spending and demand for high-performance materials. There is an increased demand for TPU in automotive and medical applications along with the increased consumer spending in emerging countries of APAC such as China, India, Indonesia, South Korea, and others. However, the high cost of TPU when compared to other conventional materials is restraining the growth of the TPU market. Technological advancements in the manufacturing of different grades of TPU with new properties are, however, providing growth opportunities for TPU manufacturers.

Footwear industry to be the largest consumer of TPU.

Footwear was the largest end-use industry of TPU in 2018. TPU is used to form various parts of footwear, such as upper yarns, midsoles/foam & cushioning, outsoles, eyelets, heel cups, logos, shanks & toe caps. Growing demands for comfort, performance, and durability, are driving the market in the footwear industry

APAC is projected to be the largest TPU market during the forecast period.
The APAC TPU market is projected to register the highest CAGR during the forecast period.The footwear market in APAC is driven by increased consumer spending, strong economic growth, greater disposable incomes, growing awareness of healthy lifestyles, popularity of sports footwear, and a growing sports-driven consumer base.

The footwear market in APAC remains strong with the presence of Nike and Adidas in Japan, South Korea, and Taiwan.

This study was validated through primary interviews conducted with various industry experts worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.
• By Company Type – Tier 1: 25%, Tier 2: 50%, and Tier 3: 25%
• By Designation - C Level: 35%, Director Level: 25%, and Others: 40%
• By Region - APAC: 30%, Europe: 25%, North America: 20%, South America: 15%, and the Middle East & Africa: 10%

The report profiles several leading players of the TPU market such as BASF SE (Germany), Lubrizol Corporation (US), Covestro AG (Germany), Huntsman Corporation (US), Wanhua Industrial Group (China), COIM Group (Italy), American Polyfilm Inc. (US), Kuraray Co., Ltd (Japan), and Polyone Corporation (US). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the TPU market.

Research Coverage:
The report offers insights into the TPU market in the key regions.It aims at estimating the size of the TPU market during the forecast period and projects future growth of the market across various segments based on raw material, type, end-use industry, and region.

The report also includes an in-depth competitive analysis of the key players in the TPU market, along with company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help leaders/new entrants in the TPU market by providing them with the closest approximations of revenues for the overall market and its various sub-segments.This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.

The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the TPU market.

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