In 2018, the global market for thermoplastic polyurethane film was worth USD 361.8million. It is expected to grow at 6.1% CAGR between 2019 and 2025. Product demand is expected to rise due to its waterproofness, high resilience and cool temperature resistance. The key driver of the market is expected to be increased use of the product for automotive applications. Thermoplastic polyurethane film is a versatile elastomer that can be used for many applications. They are also ideal for industrial applications due to their chemical, puncture and tear resistance.
Due to stability in the automotive industry, the global demand for TPU film has been on the rise over the past few years. The exterior uses of TPU films include paint protection, scratch protection, anti-stone chipsping, rear bumper protection and cowl protection. This product is made from TPU pellets and manufactured with polyether Polyurethanes or polyester polyurethanes.
Methylene Diphenyl Diisocyanate is used to make PU. End-use applications that require low temperature flexibility, hydraulic stability, fungal resistance, or low-temperature flexibility for polyether polyurethanes will be able to use them. Thermoplastic Polyurethanes offer a holistic approach to manufacturing auto parts. They cover all aspects of manufacturing, which is why they are preferred by automobile manufacturers over other materials.
High-performance films have allowed auto makers to reduce the vehicle's overall weight, which has resulted in higher fuel efficiency. The market is expected to grow due to the rapid expansion of the construction sector in emerging markets like Asia Pacific. The economic fundamentals of Asia are strong, despite the turmoil in many other regions. The region will be the fastest growing region in the future, with an estimated GDP growth of 7% through the end decade.
Automotive segment was responsible for 22.7% of the total revenue in 2018, and it is expected to grow at 6.1% CAGR between 2019-2025. Segment growth is being driven by an increase in vehicle production. It can be used in anti-vibration panels, door panels and acoustic panels. This product can replace metal and plastic parts in aircraft, thus ensuring steady growth for the aerospace sector. The segment will also be driven by technological advances and rising consumer disposable income.
TPU films can be used to make waterproof gloves, costumes, socks, shoes, and hats. Their demand is expected to rise in the leisure and sport segment. Product demand is expected to rise due to increased demand for sportswear. The segment is expected to grow due to government support for sports and fitness in the future. These films can be combined with textiles to make industrial fabric for the construction industry. They are extremely extensible and tear-resistant.
Due to increasing populations, the growing construction sector in developing countries like India and China is expected to increase the demand for building & construction applications. Their demand for medical applications is increasing rapidly due to the rapid expansion of the medical sector. Market growth is expected to be fueled by the development of diagnostics and surgical applications that allow for patient data management, laboratory testing, and patient care. This segment is also supported by an increasing government spending on healthcare and a growing population.
Asia Pacific will be the fastest-growing region market. The region's growth will be driven by government policies that favor different industries and the expansion of the construction, medical, and automotive sectors. The market growth of TPU Films is also expected to be driven by an increase in disposable income.
The market will also benefit from government support to increase FDI flow and rising spending capacity in many developing countries. In addition, infrastructure development will increase demand from the following industries: railway, building & Construction, energy, and aerospace.
In 2018, North America accounted for 32.24% of the total revenue. This region is home to large and small-scale aerospace and component companies. The overall market growth is expected to be supported by the increased production of agriculture in countries like China, U.S.A, India, Brazil and Mexico. The global market will also benefit from emerging applications such as animal identification tags in the future.
Globally, the market is extremely competitive. Companies are now focusing on developing bio-based films to provide sustainable solutions. Huntsman Corporation is one of the major players in this market. Bayer Material Science and 3M Company are also among the top companies. Permali Gloucester Ltd., Avery Dennison (BASF SE), Nippon Polyurethane and Lubrizol are all other key players.
With the presence of many small- and medium-sized manufacturers, the market is fragmented. The strong presence of local suppliers and manufacturers, especially in China, is one of the main reasons for market fragmentation. To increase market share, companies are focusing on customizing products and strategic partnerships.
This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014-2025. Grand View Research has divided the global Thermoplastic polyurethane (TPU), films market report based on application and region.
Application Outlook (Volume and Tons; Revenue USD Millions, 2014-2025)
Building & Construction
Regional Outlook (Volume and Tons; Revenue USD Millions, 2014-2025)
Central & South America
Middle East & Africa
Up Market Research published a new report titled “Thermoplastic Polyurethane Films Market research report which is segmented by Application (Automotive, Leisure, Railway, Energy, Aerospace, Furniture), By Players/Companies PAR Group, MH&W International Corp, Avery Dennison, Permali Gloucester Ltd, Lubrizol, 3M Company, BASF SE, Nippon Polyurethane, Huntsman Corporation, Bayer Material Science”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Thermoplastic Polyurethane Films Market Research Report|
|By Application||Automotive, Leisure, Railway, Energy, Aerospace, Furniture|
|By Companies||PAR Group, MH&W International Corp, Avery Dennison, Permali Gloucester Ltd, Lubrizol, 3M Company, BASF SE, Nippon Polyurethane, Huntsman Corporation, Bayer Material Science|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||214|
|Number of Tables & Figures||150|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Automotive, Leisure, Railway, Energy, Aerospace, Furniture).
Thermoplastic Polyurethane Films Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Thermoplastic Polyurethane Films Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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