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세계의 열가소성 폴리우레탄(TPU) 시장 : 용도별, 최종 이용 산업별, 지역별 - 성장, 동향, 예측

Thermoplastic Polyurethane (TPU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

리서치사 Mordor Intelligence Pvt Ltd
발행일 2021년 11월 상품 코드 354477
페이지 정보 영문
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세계의 열가소성 폴리우레탄(TPU) 시장 : 용도별, 최종 이용 산업별, 지역별 - 성장, 동향, 예측 Thermoplastic Polyurethane (TPU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
발행일 : 2021년 11월 페이지 정보 : 영문

본 상품은 영문 자료로 한글과 영문목차에 불일치하는 내용이 있을 경우 영문을 우선합니다. 정확한 검토를 위해 영문목차를 참고해주시기 바랍니다.

세계의 열가소성 폴리우레탄(TPU) 시장은 2018-2023년간 3.36%의 연평균 성장률(CAGR)로 성장할 전망입니다. 2017년 TPU 시장은 아시아태평양이 자동차 수요와 건물 건설 증가 등의 요인에 의해 60%의 점유율을 차지했습니다.

세계의 열가소성 폴리우레탄(TPU : Thermoplastic Polyurethane) 시장에 대해 조사 분석했으며, 개요, 시장 성장 촉진요인과 억제요인, 기회, 부문별 시장 분석, 경쟁 상황, 주요 기업 등의 정보를 전해드립니다.

제1장 서론

제2장 주요 요약

제3장 열가소성 폴리우레탄(TPU) 시장 개요

  • 산업 밸류체인 분석
  • 산업 매력 : Porter's Five Forces 분석

제4장 시장 역학

  • 성장 촉진요인
  • 성장 억제요인
  • 기회

제5장 시장 세분화와 분석

  • 용도별
  • 최종 이용 산업별

제6장 지역별 시장 분석

  • 아시아태평양
  • 북미
  • 유럽
  • 남미
  • 중동 및 아프리카

제7장 경쟁 상황

  • M&A, 합작투자, 제휴, 계약
  • 시장 점유율 분석
  • 주요 기업의 전략

제8장 기업 개요

  • Api S.P.A.
  • Argotec
  • American Polyfilm Inc.
  • Austin Novel Materials
  • Bailey-Parks Urethane Inc.
  • Basf Polyurethanes Gmbh
  • Covestro - Bayer Material Science
  • Coim
  • Dow Polyurethane
  • Ding-Zing Chemical Products Co. Ltd
  • Hexpol Rubber Compounding
  • Huafon Group
  • Huntsman Corp.
  • Kuraray Co. Ltd
  • Lubrizol Corp.
  • Miracll Chemicals Ltd
  • Polyone Corporation
  • Sumei Chemical Co. Ltd
  • Walton Plastics, Inc.
  • Wanhua Chemical Group Co. Ltd

제9장 면책사항

KSM 18.06.20

The Thermoplastic Polyurethane Market is valued at USD 2,326.46 million in 2020, and it is projected to register a CAGR of over 6.5% by 2026.

The market witnessed a slight decline in early 2020 due to the COVID-19 outbreak, leading to lockdown and delay in the construction of projects and restricted activities. However, after lifting the lockdown, the industries are expected to witness a sharp increase by the mid-forecast period, which may, in turn, drive the demand for thermoplastic polyurethane in the future. In the automobile industry, various automobile and component manufacturing plants temporarily shut their production and office operations across the world, leading to a sharp drop in automotive sales. Companies, such as Nissan, Volkswagen, Ford, Renault, Fiat Chrysler, Toyota, Hyundai, Maruti Suzuki, and Mahindra & Mahindra, suspended the manufacturing and assembly lines to curb the spread of COVID-19. Furthermore, due to the COVID-19 pandemic, many countries are planning to set up their domestic manufacturing industries for key manufacturing activities, in order to decrease their reliance on imports. This, in turn, is driving the demand for thermoplastic polyurethane from the medical industry.

Key Highlights

  • Over the short term, the major factors driving the growth of the thermoplastic polyurethane market are increasing applications in the medical industry and environment-friendly and recyclable.
  • On the flip side, declining automotive production in the global market and the negative impact of COVID-19 on the overall market are expected to hinder the growth of the market studied.
  • Shifting focus toward the development of bio-based products and increasing R&D activities are likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Key Market Trends

Increasing Demand from Extruded Products

  • Thermoplastic polyurethane exhibits properties like oil and grease resistance, abrasion resistance and has strong mechanical properties, which make it valuable for many industrial applications. TPU, like other thermoplastic elastomers, is melt-processable and highly elastic. It is transparent and easily colored. Therefore, it is widely used for extruded products application.
  • Furthermore, TPU can be compounded with many materials using the extrusion process in order to enhance its properties, such as increased strength, fuel and oil resistance, and abrasion resistance. Compounded TPU finds a wide range of applications in areas where superior structural integrity is required, such as for hoses and tubes (pressure hose, fire hose, pneumatic tubing, and air tubing), belts (conveyor belts, air matting, and drive belts), electrical wires (vehicle wiring, computer wiring, and wire and power cable sheathing), medical disposables, and OA equipment connectors.
  • These extruded TPU products find applications in several industries like electrical and electronics, oil and gas, medical, automotive, etc.
  • The shrinkage in global automotive production and global oil production during 2018-19 has impacted the demand for extruded TPU products. The declining automotive industry, along with the temporary shutdown of automotive manufacturing units and various industrial activities due to the ongoing pandemic scenario, has declined the consumption of thermoplastic polyurethane. According to OICA, automobile production declined by around 15.8% in 2020 compared to the same period in 2019, reaching a total of 77.62 million units produced, thus creating a negative impact on the demand of the thermoplastic polyurethane market.
  • The global TPU market is affected by China's automobile industry as China is the world's largest automotive producer. As of 2019, China had produced 25.72 million vehicles and reached 25.26 million vehicles in 2020, registering a decline rate of about 2% due to the COVID-19 pandemic, which in turn negatively impacted the demand for the regional thermoplastic polyurethane (TPU) market.
  • However, the consistent growth of the medical and electronics industry has been driving the demand for extruded TPU products.
  • Additionally, rising innovations in the extrusion process are also expected to drive the growth of this segment in the market studied. For example, in 2020, Novatec developed a new extrusion technology, which includes a new downstream system for inline cutting and curing of TPU medical tubes. This technology helps in significantly reducing the post-extrusion shrinkage that occurs in TPU tubes.
  • The aforementioned factors are likely to affect the demand for TPU in extruded products application, with the potential to recover through the years to come.

The Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region accounted for the largest share of the regional market for thermoplastic polyurethane. Owing to the increasing automotive demand and the increasing demand for textile and footwear, TPU-based adhesives and sealants are expected to witness a healthy growth rate in the region.
  • The Chinese footwear industry is the largest in the world, with a robust network of domestic sales and exports to major countries. As leather footwear accounts for the largest share of the footwear industry in China, the demand for TPU adhesives is estimated to be the strongest in China, compared to other parts of the world.
  • The construction sector in India is growing at a higher rate with urbanization projects and new construction activities, such as bridges, dams, roads, railways (metro rails), urban infrastructures, buildings, etc. Around 100% FDI in the construction sector has also helped the industry to grow, which is expected to grow further at a higher rate, with increasing population, during the forecast period.
  • Currently, China has numerous airport construction projects, which are either in the development or planning stage. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Additionally, the government rolled out massive construction plans for the movement of 250 million people to its new megacities over the next 10 years.
  • Additionally, thermoplastic polyurethane (TPU) is significantly used in the automotive industry. Several parts of automobiles like bumpers, interior ceiling sections, doors, and windows use a significant amount of TPU. The USD 118 billion automobile industry in India is expected to reach USD 300 billion by 2026. According to OICA, India's vehicle production was 4.52 million vehicles in 2019, which reduced to 3.39 million units in 2020, a decline of around 25%. However, India is expected to emerge as the world's third-largest passenger vehicle market by 2021.
  • In India, the government's investment target of USD 120.5 billion for developing 27 industrial clusters is expected to boost commercial construction in the country.
  • The Indonesian government planned to invest about USD 450 billion in the construction sector by 2021, which is expected to drive residential construction in the country.
  • All these factors are expected to increase the market for thermoplastic polyurethane in the region during the forecast period.

Competitive Landscape

The global thermoplastic polyurethane market is consolidated in nature, with the top five players accounting for major shares of the market studied. Some major players in the market include BASF SE, Covestro AG, The Lubrizol Corporation, Huntsman International LLC, and Wanhua Chemical Group Co. Ltd., among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1. INTRODUCTION

  • 1.1. Study Assumptions
  • 1.2. Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1. Drivers
    • 4.1.1. Increasing Applications in the Medical Industry
    • 4.1.2. Eco-friendly and Recyclable
    • 4.1.3. Rising Usage in Industrial Application
  • 4.2. Restraints
    • 4.2.1. Declining Automotive Production
    • 4.2.2. Negative Economic Impact of COVID-19
  • 4.3. Industry Value Chain Analysis
  • 4.4. Porter's Five Forces Analysis
    • 4.4.1. Bargaining Power of Suppliers
    • 4.4.2. Bargaining Power of Consumers
    • 4.4.3. Threat of New Entrants
    • 4.4.4. Threat of Substitute Products and Services
    • 4.4.5. Degree of Competition

5. MARKET SEGMENTATION

  • 5.1. Application
    • 5.1.1. Extruded Products
    • 5.1.2. Injection Molded Products
    • 5.1.3. Adhesives
    • 5.1.4. Other Applications
  • 5.2. End-user Industry
    • 5.2.1. Construction
    • 5.2.2. Automotive
    • 5.2.3. Footwear
    • 5.2.4. Medical
    • 5.2.5. Electrical and Electronics
    • 5.2.6. Heavy Engineering
    • 5.2.7. Other End-user Industries
  • 5.3. Geography
    • 5.3.1. Asia-Pacific
      • 5.3.1.1. China
      • 5.3.1.2. India
      • 5.3.1.3. Japan
      • 5.3.1.4. South Korea
      • 5.3.1.5. ASEAN Countries
      • 5.3.1.6. Rest of Asia-Pacific
    • 5.3.2. North America
      • 5.3.2.1. United States
      • 5.3.2.2. Canada
      • 5.3.2.3. Mexico
    • 5.3.3. Europe
      • 5.3.3.1. Germany
      • 5.3.3.2. United Kingdom
      • 5.3.3.3. Italy
      • 5.3.3.4. France
      • 5.3.3.5. Rest of Europe
    • 5.3.4. South America
      • 5.3.4.1. Brazil
      • 5.3.4.2. Argentina
      • 5.3.4.3. Rest of South America
    • 5.3.5. Middle-East and Africa
      • 5.3.5.1. Saudi Arabia
      • 5.3.5.2. South Africa
      • 5.3.5.3. Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1. Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2. Market Share**/Ranking Analysis
  • 6.3. Strategies Adopted by Leading Players
  • 6.4. Company Profiles
    • 6.4.1. Trinseo
    • 6.4.2. AVIENT CORPORATION (Formerly PolyOne Corporation)
    • 6.4.3. Epaflex Polyurethanes SpA
    • 6.4.4. BASF SE
    • 6.4.5. Covestro AG
    • 6.4.6. Coim Group
    • 6.4.7. Miracll Chemicals Co. Ltd
    • 6.4.8. Huafeng Group
    • 6.4.9. Huntsman International LLC
    • 6.4.10. DONGSUNG CORPORATION
    • 6.4.11. Sumei Chemical Co. Ltd
    • 6.4.12. Suzhou new Mstar Technology Ltd
    • 6.4.13. The Lubrizol Corporation
    • 6.4.14. Tosoh Corporation
    • 6.4.15. Wanhua Chemical Group Co. Ltd
    • 6.4.16. HEXPOL AB

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1. Shifting Focus toward the Development of Bio-based Products
  • 7.2. Increasing R&D Activities
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