Thermoplastic Polyurethane (TPU) Market Scope
High usage of aromatic ketone as well as fluoropolymers polymers is leading to the upsurge end-use industries demand will help to boost global Thermoplastic Polyurethane market in the forecasted period. Thermoplastic polyurethane (TPU) is a completely thermoplastic elastomer. There are various properties of Thermoplastic Polyurethane including elastic, melt-processable and can be processed on extrusion, blow, injection and compression molding equipment. It is made from highly refined petroleum, siloxanes or synthetically formulated hydrocarbons. Thermoplastic Polyurethane is mostly used for the cooling agent to avoid the device from overheating. Also, It can have viscosity higher than water.
According to AMA, the Global Thermoplastic Polyurethane (TPU) market is expected to see growth rate of 6.9% and may see market size of USD3192.5 Million by 2027.
Research Analyst at AMA estimates that United States and Chinese Vendors will contribute to the maximum growth of Global Thermoplastic Polyurethane (TPU) market throughout the predicted period.
BASF Polyurethanes (Germany), The Lubrizol Corporation (United States), Covestro AG (Germany), Huntsman Corporation (United States), Wanhua Chemical Group Co.Ltd. (China), Huafeng (China), Bangtai Polymeric New-Materials Co. Ltd (Hong Kong), Sumei Chemical Co. Ltd (Taiwan), A.P.I. Applicazioni Plastiche Industriali SPA (Italy) and Argotec (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are American Polyfilm Inc. (United States) and Suzhou Austin Novel Materials Co Ltd (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Thermoplastic Polyurethane (TPU) market by Type (Aromatic TPU and Aliphatic TPU), by Application (TPU Pipe, TPU Film and Shoes) and Region with country level break-up.
On the basis of geography, the market of Thermoplastic Polyurethane (TPU) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On June 18, 2019, The Lubrizol Corporation has formed a strategic partnership with Corbion Biotech Inc. by bringing "AlgaPur", a high stability high oleic algae oil to the personal care and cosmetics markets. Corbion is a global market leader in algae ingredients. This collaboration combines Lubrizol's formulation experience and knowledge of the personal care market with Corbion's innovative bio-based solutions and sustainable practices.
On June 6, 2019, a leading global supplier of high-performance polymer materials, "Covestro" has launched its first commercial order of polyurethane raw materials for wind blades to China. The blades, produced by Zhuzhou Times New Material Technology (TMT), one of the largest manufacturers of wind blades in China, have then been delivered to Envision, a leading global wind turbine technology company.
Market Trend
- Introduction to Thermoplastic Polyurethane Polymers with Greater Versatility and High Resistance to Tears, Abrasions, Weather and many Others
- Growing adoption of TPU enabled with Anti-Static Properties and Optical Clarity
Market Drivers
- Increasing Demand for a Wide Variety of Fabrication Methodologies
- Increasing Usability of Thermoplastic Polyurethane (TPU) due to Maximum Flexibility and Adaptability
Opportunities
- Upsurging Uses of TPUs in Automotive Industry
- Increasing Applications of Melt-Processable Polyurethanes in Manufacturing Catheters
Restraints
- Some Thermoplastic Polyurethane have minimal Shelf Life
- Significant Lead Time is required in Initial Drying
Challenges
- Lack of Cost-Effectiveness with respect to Emerging Cheaper Solutions
Key Target Audience
Thermoplastic Polyurethane (TPU) Manufacturers, Thermoplastic Polyurethane (TPU) Distributors and Traders, Upstream and Downstream Buyers, Research and Development Institutes, Government Regulators and Others