PUNE, India, March 16, 2017 /PRNewswire/ --
The Report "Thermoplastic Polyurethane Market by Type (Polyester, Polyether, and Polycaprolactone), End-Use Industry (Automotive, Footwear, Engineering, Building & Construction, Wires & Cables, Hose & Tubing, and Medical), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from USD 1.79 Billion in 2016 to USD 2.48 Billion by 2021, at a CAGR of 6.8% between 2016 and 2021.
Browse 81 Tables and 37 Figures spread through 133 Pages and an in-depth TOC on "Thermoplastic Polyurethane Market"
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The growth of the market is driven by replacement of conventional materials by thermoplastic polyurethane in applications demanding high dimensional stability and increased abrasion resistance.
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The Asia-Pacific region is the largest market for thermoplastic polyurethanes.
The Asia-Pacific region is currently the largest market for thermoplastic polyurethanes due to increasing demand for thermoplastic polyurethane from emerging economies, such as India and China. China is the largest market for thermoplastic polyurethanes in the Asia-Pacific region.
Forces driving the market for thermoplastic polyurethane in the Asia-Pacific region are:
- Presence of major manufacturers of thermoplastic polyurethane in the region
- Growing end-use industries, such as footwear, engineering, automotive, and building & construction in major countries, such as China, India, and Japan of the region.
Among end-use industries, the footwear segment led the thermoplastic polyurethane market in 2016, in terms of volume.
Thermoplastic polyurethane is used in various end-use industries, such as footwear, engineering, building & construction, automotive, hose & tubing, wires & cables, and medical. These are the main end-use industries that have been considered in this report on the thermoplastic polyurethane (TPU) market. In terms of volume, the footwear end-use industry segment led the thermoplastic polyurethane (TPU) market in 2016. It was followed by the engineering, wires & cables, automotive, building & construction, hose & tubing, and medical segments. The footwear end-use industry is largely influenced by consumer trends and fashions. Rising demand for fancy and trendy comfortable footwear among all age groups is a key factor driving the growth of the footwear industry across the globe, which, in turn, is driving the thermoplastic polyurethane (TPU) market. The medical end-use industry segment of the thermoplastic polyurethane (TPU) market is projected to grow at the highest CAGR between 2016 and 2021, in terms of both, value as well as volume.
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Among types, the polyester segment led the thermoplastic polyurethane market in 2016.
On the basis of type, the Thermoplastic Polyurethane (TPU) Market has been classified into polyester, polyether, and polycaprolactone. The polyester type segment led the thermoplastic polyurethane (TPU) market in 2016, in terms of value as well as volume. It was followed by the polyether and polycaprolactone type segments. Polyester-based thermoplastic polyurethane (TPU) possesses stronger cut and tear resistance combined with better oil and heat resistance properties than polyether-based thermoplastic polyurethane (TPU). In addition, cost of polyester-based thermoplastic polyurethane (TPU) is lower in comparison to polyether-based thermoplastic polyurethane (TPU). All these factors are expected to drive the growth of the polyester type segment of the thermoplastic polyurethane (TPU) market between 2016 and 2021.
The key players in the thermoplastic polyurethane (TPU) market are BASF Polyurethanes (Germany), The Lubrizol Corporation (U.S.), Covestro AG (Germany), Huntsman Corporation (U.S.), and Wanhua Chemical Group Co., Ltd. (China), among others.
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