Thermoplastic Polyurethane Market

The market is expected to attain a global CAGR of 7.1% and hence, reach a market value worth USD 3.8 billion by the end of the forecast period in 2030

The growth for the thermoplastic polyurethane (TPU) market is expected at a rapid phase owing due to its rising demand from various regions and its vast application in various end-use industries. Market Research Future (MRFR) has published a research report regarding the global thermoplastic polyurethane market that estimates progress for this market with 7.1% CAGR (Compound Annual Growth Rate) between 2023 and 2030. In terms of cash, this market is expected to be worth US $ 3.8 bn during the forecast period.

Analyzing the market structure, this report offers insights into factors affecting the market growth. Evaluating market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R D), and strategic alliances. The factors leading to the growth of the global thermoplastic polyurethane market include rising demand from the automotive sector and medical sector. However, the market growth can be stunted due to the price of raw materials, growing environmental concerns with the manufacturing, and usage of thermoplastic polyurethanes.

The global thermoplastic polyurethane market has been segmented on the basis of application, grade, type, and region. Based on the application, this market has been segmented automotive, construction, engineering, medical and others. The grade-based segmentation segments the market into antistatic, flame retardant, reinforced and others. By type, the market is polycaprolactone, polyester, and polyether.

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The regional segmentation of the global thermoplastic polyurethane market segments the market into continent-based regional markets known as North America, Asia Pacific, Europe, Latin America, and Middle East Africa (MEA). Asia Pacific region is the largest regional market due to demand in the various industrial sector in China, followed by India. Other crucial country-specific markets in this region are Australia, Japan, New Zealand, South Korea, and Taiwan followed by the rest of the Asia Pacific region. Here, the market is primarily growing due to high demand in the automotive sector in China, India, South Korea, and Taiwan.

Europe is the second largest regional market. In Europe, the market for thermoplastic polyurethane is rising due to the huge demand from the construction industry. In this region, the significant country-specific markets are France, Germany, Italy, Spain, and the United Kingdom (UK). North America is the third largest regional market. In North America, the growing consumption of Thermoplastic polyurethane film is maximum in the engineering and medical industry. Technological advancement and available facilities for mass production in this region also aid market growth. 

During the forecast period, market growth in Latin America and the MEA region is also expected. In Latin America, the strong economies that can be ideal markets are Argentina and Brazil, followed by the rest of Latin America. In the MEA region, the primary country-specific markets are Bahrain, Israel, Kuwait, North Africa, Oman, Turkey, Saudi Arabia, and the United Arab Emirates (UAE), followed by the rest of the MEA region.

Key Players

The key players in the global thermoplastic polyurethane market include API Plastics (USA), BASF SE (Germany), Bayer Material Science AG (Germany), Coim (Italy), Headway Polyurethane Co. Ltd. (Taiwan), Hexpol AB (Sweden), Huntsman Corporation (USA), Lubrizol Corporation (USA), Miracll Chemical Co. Ltd. (China), and Wanhua Chemical Group Co. Ltd (China).

Latest Industry News

· Sinterit has launched a soft thermoplastic polyurethane powder designed for its Lisa series of Selective Laser Sintering (SLS) printers. 

· The Lubrizol Corporation has launched its Engineered Polymers business, showcasing innovative TPU solutions from its new Estane® 3DP TPU portfolio.

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