열가소성 폴리우레탄 시장 규모, 점유율, 예측 및 동향 분석 : 유형별, 가공 방법별, 분야별, 지역별 - 세계 예측(-2031년)

Thermoplastic Polyurethane (TPU) Market by Type (Polyether, Polyester, Polycaprolactone, Others), Processing Method (Injection Molding, Extrusion, Others), Sector (Footwear, Medical Devices, Automotive, Others), Geography-Forecast to 2031

The research report titled, 'Thermoplastic Polyurethane (TPU) Market by Type (Polyether, Polyester, Polycaprolactone, Others), Processing Method (Injection Molding, Extrusion, Others), Sector (Footwear, Medical Devices, Automotive, Others), Geography-Forecast to 2031, provides an in-depth analysis of the thermoplastic polyurethane market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The thermoplastic polyurethane market is projected to reach $5.3 billion by 2031, at a CAGR of 7.3% from 2024 to 2031.

By 2031, Thermoplastic Polyurethane Consumption is Expected to Reach 1519 K Tons

The growth of this market is driven by the rising use of thermoplastic polyurethane in the automotive sector, the increasing demand for TPU from the footwear sector, and the growing demand for biodegradable plastic to reduce environmental pollution. In addition, the rising utilization of TPU in the industrial sector is expected to create market growth opportunities. However, the higher cost of TPU compared to conventional plastics may restrain market growth. Additionally, the volatility of raw material prices poses a challenge to the market's growth.

The thermoplastic polyurethane market is segmented based on type (polyether, polyester, polycaprolactone, and other thermoplastic polyurethane types), processing method (injection molding, extrusion, blow molding, and other processing methods), sector (footwear, industrial machinery, automotive, electronics, medical devices, consumer goods, sports & leisure, building & construction, and other sectors). The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the thermoplastic polyurethane market is segmented into polyether, polyester, polycaprolactone, and other thermoplastic polyurethane types. In 2024, the polyester segment is expected to account for the largest share of over 48.0% of the thermoplastic polyurethane market. This segment's large market share can be attributed to its properties, including high tensile strength, puncture resistance, superior durability in abrasive environments, and excellent chemical resistance, making them well-suited for use in environments where contact with fuels and solvents is common. Additionally, the growing preference for polyester in construction, automotive, and footwear applications contributes to the significant market share of this segment. In response to the increasing demand, market players are launching new solutions. For instance, in September 2023, Trinseo (U.S.), a specialty materials solutions provider, launched a new transparent thermoplastic elastomer (TPE) grade tailored for footwear applications. The APILON 52 XB-75A CRISTALLO marks Trinseo's first ester-based transparent thermoplastic polyurethane (TPU), representing a significant addition to the company's growing portfolio of solutions for the fashion & footwear industry.

However, the polycaprolactone segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the excellent properties of polycaprolactone, including high resistance to hydrolysis, exceptional durability, resistance to cuts and chips, low-temperature flexibility and toughness, and chemical resistance. Furthermore, the increasing utilization of this TPU in the production of pneumatic and hydraulic seals, as well as conveyor belts, contributes to its increased demand. Additionally, polycaprolactone-based TPUs have a lower melting point and are easily processable, making them suitable for a diverse range of applications, such as medical devices, automotive components, and coatings.

Based on processing method, the thermoplastic polyurethane market is segmented into injection molding, extrusion, blow molding, and other processing methods. In 2024, the injection molding segment is expected to account for the largest share of the thermoplastic polyurethane market. Injection molding is a method used to produce molded products by injecting molten plastic materials into a mold, which then cools and solidifies the material. This segment's large market share can be attributed to the increasing utilization of injection molding processes across various sectors, including automotive, medical, aerospace, consumer electronics, packaging, and construction.

However, the blow molding segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the robust physical and mechanical properties of blow-molded products, including excellent processibility, high extrusion stability, and resistance to both cold and heat. Additionally, the increasing utilization of blow molding processes for the production of thin film, ultra-thin film, air cushions, and pipes further drives the growth of this segment.

Based on sector, the thermoplastic polyurethane market is segmented into footwear, industrial machinery, automotive, electronics, medical devices, consumer goods, sports & leisure, building & construction, and other sectors. In 2024, the footwear segment is expected to account for the largest share of over 35.0% of the thermoplastic polyurethane market. This segment's large market share can be attributed to the increasing demand for durable and comfortable shoes and growing consumer expenditure on footwear. Additionally, footwear manufacturers are increasingly utilizing thermoplastic polyurethane in footwear production. For instance, in September 2021, BASF SE (Germany) collaborated with Hotter (U.K.), a leading shoe manufacturing company, to introduce its first expanded thermoplastic polyurethane (E-TPU) product called Infinergy (E-TPU) for shoe manufacturing. Infinergy (E-TPU) offers exceptional cushioning, contributing to enhanced comfort and performance in footwear.

However, the medical devices segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of medical-grade thermoplastic polyurethane (TPU) in various applications such as cardiology, urology, vascular, wound care, and others. Additionally, the rising utilization of thermoplastic polyurethane (TPU) as a raw material for extracorporeal and implantable blood-contacting medical devices, including blood pockets, catheters, vascular grafts, and arteriovenous shunts, is anticipated to drive the segment's growth.

Based on geography, the thermoplastic polyurethane market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 56.0% of the thermoplastic polyurethane market. Asia-Pacific's significant market share can be attributed to the increasing demand for thermoplastic polyurethane across various sectors, including automotive, construction, and consumer goods. This trend is further fueled by rising infrastructure developments, rising disposable incomes, growing urbanization, and expanding footwear and apparel production in the region.

Moreover, the market in Asia-Pacific is projected to register the highest CAGR of over 8.5% during the forecast period. The increasing focus of market players on expanding their presence in Asia-Pacific is expected to drive the growth of this regional market. For instance, in February 2023, Covestro AG (Germany) announced plans to construct its largest thermoplastic polyurethane manufacturing plant in Zhuhai, South China. Upon completion, the plant will have a total manufacturing capacity of 20,000 tons of TPU per year. Furthermore, in August 2022, The Lubrizol Corporation (U.S.) announced the establishment of a new TPU line at the Shanghai Songjiang Site. The new production line was aimed at enhancing the company's TPU production capacity and strengthening its business in Asia-Pacific.

Key Players:

The key players operating in the thermoplastic polyurethane market are BASF SE (Germany), The Lubrizol Corporation (U.S.), Covestro AG (Germany), Taiwan PU Corporation (Taiwan), AMERICAN POLYFILM, INC. (U.S.), Coim Group (Italy), Mitsui Chemicals, Inc. (Japan), Sanyo Corporation of America (U.S.), Huntsman International LLC (U.S.), Wanhua Chemical Group Co., Ltd. (China), Avient Corporation (U.S.), HEXPOL AB (Sweden), SONGWON (South Korea), Tosoh Corporation (Japan), and Kolon Industries, Inc (South Korea).

Key questions answered in the report:

• Which are the high-growth segments in the thermoplastic polyurethane market based on type, processing method, and sector?
• What was the historical market for thermoplastic polyurethane?
• What are the market forecasts and estimates for the period 2024-2031?
• What are the major drivers, restraints, and opportunities in the thermoplastic polyurethane market?
• Who are the major players, and what shares do they hold in the thermoplastic polyurethane market?
• What is the competitive landscape like?
• What are the recent developments in the thermoplastic polyurethane market?
• What are the different strategies adopted by the major players in the thermoplastic polyurethane market?
• What are the key geographic trends, and which are the high-growth countries in the thermoplastic polyurethane market?
• Who are the local emerging players in the thermoplastic polyurethane market, and how do they compete with the other players?

Scope of the report:

Thermoplastic Polyurethane Market Assessment-by Type

• Polyether
• Polyester
• Polycaprolactone
• Other Thermoplastic Polyurethane Types

Thermoplastic Polyurethane Market Assessment-by Processing Method

• Injection Molding
• Extrusion
• Blow Molding
• Other Processing Methods

Thermoplastic Polyurethane Market Assessment-by Sector

• Footwear
• Industrial Machinery
• Automotive
• Electronics
• Medical Devices
• Consumer Goods
• Sports & Leisure
• Building & Construction
• Other Sectors

Thermoplastic Polyurethane Market Assessment-by Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Switzerland
  • Netherlands
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Israel
  • Rest of Middle East & Africa

TABLE OF CONTENTS

1. Introduction

• 1.1 Market Definition
• 1.2 Currency & Limitations
  • 1.2.1 Currency
  • 1.2.2 Limitations

2. Research Methodology

• 2.1 Research Approach
• 2.2 Process of Data Collection and Validation
  • 2.2.1 Secondary Research
  • 2.2.2 Primary Research/Interviews with Key Opinion Leaders of the Industry
• 2.3 Market Sizing and Forecast
  • 2.3.1 Market Size Estimation Approach
  • 2.3.2 Growth Forecast Approach
• 2.4 Assumption for the Study

3. Executive Summary

• 3.1 Market Overview
• 3.2 Market Analysis, by Type
• 3.3 Market Analysis, by Processing Method
• 3.4 Market Analysis, by Sector
• 3.5 Market Analysis, by Geography
• 3.6 Competitive Analysis

4. Market Insights

• 4.1 Overview
• 4.2 Factors Affecting Market Growth
  • 4.2.1 Drivers
    • 4.2.1.1 Rising Use of Thermoplastic Polyurethane in the Automotive Sector
    • 4.2.1.2 Increasing Demand for TPU From the Footwear Sector
    • 4.2.1.3 Growing Demand for Biodegradable Plastic to Reduce Environmental Pollution
  • 4.2.2 Restraints
    • 4.2.2.1 Higher Cost of TPU Compared to Conventional Plastics
  • 4.2.3 Opportunities
    • 4.2.3.1 Rising Utilization of TPU in the Industrial Sector
  • 4.2.4 Challenges
    • 4.2.4.1 Volatility of Raw Material Prices
• 4.3 Trends
• 4.4 Vendor Selection Criteria/Factors Affecting Buying Decision
• 4.5 Porter's Five Forces Analysis
• 4.6 Supply Chain Analysis

5. Thermoplastic Polyurethane Market Assessment-by Type

• 5.1 Overview
• 5.2 Polyether
• 5.3 Polyester
• 5.4 Polycaprolactone
• 5.5 Other Thermoplastic Polyurethane Types

6. Thermoplastic Polyurethane Market Assessment-by Processing Method

• 6.1 Overview
• 6.2 Injection Molding
• 6.3 Extrusion
• 6.4 Blow Molding
• 6.5 Other Processing Methods

7. Thermoplastic Polyurethane Market Assessment-by Sector

• 7.1 Overview
• 7.2 Footwear
• 7.3 Industrial Machinery
• 7.4 Automotive
• 7.5 Electronics
• 7.6 Medical Devices
• 7.7 Consumer Goods
• 7.8 Sports & Leisure
• 7.9 Building & Construction
• 7.10 Other Sectors

8. Thermoplastic Polyurethane Market Assessment-by Geography

• 8.1 North America
  • 8.1.1 U.S.
  • 8.1.2 Canada
• 8.2 Europe
  • 8.2.1 Germany
  • 8.2.2 U.K.
  • 8.2.3 France
  • 8.2.4 Italy
  • 8.2.5 Spain
  • 8.2.6 Switzerland
  • 8.2.7 Netherlands
  • 8.2.8 Rest of Europe
• 8.3 Asia-Pacific
  • 8.3.1 Japan
  • 8.3.2 China
  • 8.3.3 India
  • 8.3.4 South Korea
  • 8.3.5 Singapore
  • 8.3.6 Malaysia
  • 8.3.7 Rest of Asia-Pacific
• 8.4 Latin America
  • 8.4.1 Mexico
  • 8.4.2 Brazil
  • 8.4.3 Rest of Latin America
• 8.5 Middle East & Africa
  • 8.5.1 UAE
  • 8.5.2 Israel
  • 8.5.3 Rest of Middle East & Africa

9. Thermoplastic Polyurethane Market Assessment-Competitive Analysis

• 9.1 Overview
• 9.2 Key Growth Strategies
• 9.3 Competitive Dashboard
  • 9.3.1 Industry Leaders
  • 9.3.2 Market differentiators
  • 9.3.3 Vanguards
  • 9.3.4 Contemporary Stalwarts
• 9.4 Vendor Market Positioning
• 9.5 Market Share/Ranking, by Key Players

10. Company Profiles

• 10.1 BASF SE
• 10.2 The Lubrizol Corporation
• 10.3 Covestro AG
• 10.4 Taiwan PU Corporation
• 10.5 AMERICAN POLYFILM, INC.
• 10.6 Coim Group
• 10.7 Mitsui Chemicals, Inc.
• 10.8 Sanyo Corporation of America
• 10.9 Huntsman International LLC
• 10.10 Wanhua Chemical Group Co., Ltd.
• 10.11 Avient Corporation
• 10.12 HEXPOL AB
• 10.13 SONGWON
• 10.14 Tosoh Corporation
• 10.15 Kolon Industries, Inc

11. Appendix

• 11.1 Available Customizations
• 11.2 Related Reports