Thermoplastic Polyurethanes (TPU) Market Outlook 2022

Thermoplastic Polyurethane Market Statistics 2028

The global Thermoplastic Polyurethanes (TPU) market was valued at USD 2315.9 million in 2020 and it is expected to reach USD 3740.5 million by the end of 2027, growing at a CAGR of 6.0% during 2021-2027.

Thermoplastic polyurethane (TPU) refers to any of a group of polyurethane polymers that include flexibility, transparency, and resistance to abrasion, grease, and other liquids. They are technically thermoplastic elastomers made of linear block copolymers with hard and soft segments.

Thermoplastic polyurethane

Thermoplastic polyurethane (TPU) is any of a class of polyurethane plastics with many properties, including elasticity, transparency, and resistance to oil, grease and abrasion. Technically, they are thermoplastic elastomers consisting of linear segmented block copolymers composed of hard and soft segments.

The Thermoplastic Polyurethanes (TPU) market covers Polyester-based TPU, Polyether-based TPU, etc. The typical players include Lubrizol, BASF, Covestro, Wanhua Chemical, etc.

Thermoplastic Polyurethane Market Trends

The rising demand from the automotive industry is one of the major reasons boosting the market for thermoplastic polyurethanes (TPU). TPU is widely utilized in automobile applications, including wire and cable coatings, instrument panels, airbags, and interior parts. Globally, the automobile industry is expanding due to reasons including increased vehicle production, a focus on lightweight materials for greater fuel economy, and consumer demand for vehicles with superior looks and performance. TPU is a great material for automotive applications because of its high mechanical qualities, toughness, flexibility, and resistance to abrasion, chemicals, and weathering.

The market for TPU is also significantly influenced by the rising consumer goods sector. TPU is frequently utilized in consumer goods applications including shoes, sporting goods, cases for electronics, and inflatable goods. The use of TPU is driven by the rising customer desire for excellent, long-lasting, and visually beautiful goods. Manufacturers of consumer products choose it due to its adaptability, superior tear resistance, elasticity, and resistance to oils and greases.

The market for TPU is expanding significantly thanks in large part to the medical and healthcare industry. TPU is widely utilized in healthcare items and medical equipment, including catheters, tubing, bandages, and medication administration systems. The use of TPU in the medical industry is driven by the rising demand for cutting-edge medical equipment, an aging population, and the requirement for biocompatible and sterilizable materials. TPU is appropriate for a variety of medical applications because of its great flexibility, biocompatibility, and resistance to sterilization procedures.

The need for TPU is being fueled by the expansion of the building sector. TPU is utilized in a variety of construction products, including pipes, sealants, cable insulation, and roofing membranes. There is a demand for materials that are strong, resistant to the elements, and energy-efficient due to the growing construction industry, which is fueled by urbanization and infrastructure development projects. TPU is frequently used in construction applications because of its superior tensile strength, flexibility, and durability in adverse weather conditions.

Thermoplastic polyurethane Market Share Analysis

Geographically, the polyurethane elastomer market is dominated by Europe, Asia-Pacific, and the United States. Asia-Pacific is also the largest and fastest-growing regional market in the globe, with China playing a more significant role globally. The largest market share, at more than 55% in value, was held by APAC.

TPU may be broadly categorized into three groups according to the type of material they are made of: TPU based on polyester, TPU based on polyether, and TPU based on polycaprolactone. With more than 58% of market consumption, polyester had the highest market share out of the three product type groups.

TPU has a wide range of applications, including those in the automotive, footwear, medical, industrial, transportation/automotive, wire and cable solutions, and sports goods and footwear, which account for the largest market share.

Lubrizol, BASF, Covestro, Huntsman, Miracll Chemicals Co., Ltd, Wanhua Chemical, Trinseo, Hexpol, COIM Group, Epaflex, and others are among the major Thermoplastic Polyurethanes (TPU) producers in the world. The top 5 accounted for around 66% of market value.

Thermoplastic polyurethane Market Segment Analysis

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Thermoplastic polyurethane Market Segment By Type

• Polyester-based TPU
• Polyether-based TPU
• Polycaprolactone-based TPU

Thermoplastic polyurethane Market Segment By Application

• Sports Goods & Footwear
• Industrial Applications
• Transportation/Automotive
• Wire and Cable Solutions
• Construction Materials
• Medical
• Others

By Company

• Lubrizol
• BASF
• Covestro
• Wanhua Chemical
• Huntsman
• Trinseo
• Hexpol
• Kuraray
• COIM Group
• Avient
• Epaflex
• Miracll Chemicals

Production By Region

• North America
• Europe
• China
• Japan

Consumption By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Taiwan
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• U.A.E

Scope of the Thermoplastic Polyurethane Market Report