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Global Thermoplastic Polyurethane (TPU) Market Size, Share and Forecast to 2025

Apr 3rd 2020 at 2:11 AM

The global thermoplastic polyurethane (TPU) market is estimated to exhibit a CAGR of around 7% during the forecast period. Increasing use of TPU in a wide range of end-user industries such as electronics, footwear, industrial machinery, medical, and others has been a major driving factor for the growth of the global TPU industry. Increasing demand for TPU in the manufacturing of automotive interior components such as door panel and instrumental panel tends to further expand the global TPU market size in the near future.

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Increasing preference of consumers for high performance and lightweight passenger cars has been driving plastics innovation in automotive manufacturing. These factors have resulted in an increased consumption of thermoplastics in the automotive industry. Thermoplastics possess superior physical and chemical properties as compared to that of thermoset plastics, and thus,are widely preferred in terms of applications. The high substitution rate of TPU as an alternative to ethylene propylene diene monomer in construction materials further tends to complement the global demand of TPU during the forecast period.

A Full Report of Global Thermoplastic Polyurethane (TPU) Market is Available at: https://www.omrglobal.com/industry-reports/thermoplastic-polyurethane-tpu-market

The footwear industry is a major application for TPU and TPU-based adhesive is widely used for shoes joining purpose in the footwear industry. There is an increasing demand for footwear incountries, such as China, and India, which in turn drives the growth of the TPU market. Moreover, owing to the increasing demand for fancy, trendy, and comfortable footwear among all age groups tend to increase the demand for TPU-based adhesive in the footwear industry and hence tend to drive the growth of the overall market.

Apart from footwear, automotive, industrial machinery, electronics, medical, and other industries in which TPU find applications include furniture and textile. In the furniture industry, adhesives and sealants manufactured from TPU are widely adopted in the lamination of plastic films onto kitchen or bathroom furniture applications. The demand for TPU-based adhesives in this industry is owing to the good bonding provided by it to wood and plastics, such as PVC. TPU-based adhesives are also used in the textile industry for making heat-sealable fabrics.

Global TPU Market-Segmentation

By Raw Material

  • Polyol
  • Diisocyanate
  • Diols

By Application

  • Footwear
  • Industrial Machinery
  • Automotive
  • Electronics
  • Medical
  • Others

Global TPU Market– Segment by Region

North America

  • US
  • Canada

Europe

  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

Rest of the World

  • Latin America
  • The Middle East and Africa

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/thermoplastic-polyurethane-tpu-market

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com 
Contact no: +1 646-755-7667, +91 780-304-0404

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