세계의 열가소성 폴리우레탄(TPU) 시장 예측 : 유형별, 기술별, 원재료별, 용도별, 지역별 분석(-2030년)

According to Stratistics MRC, the Global Thermoplastic Polyurethanes (TPU) Market is accounted for $2.80 billion in 2024 and is expected to reach $5.21 billion by 2030 growing at a CAGR of 10.9% during the forecast period. Thermoplastic polyurethanes (TPU) are a versatile class of polymers that are known for their elasticity, durability, and resistance to abrasion, chemicals, and temperature. TPUs are used in many different industries, such as electronics, footwear, healthcare, and automotive, because of their superior mechanical qualities and versatility.

According to the Brazilian Footwear Industries Association (Abicalcados), Brazil's footwear production volume reached 863 million pairs in 2022. According to the Society of Indian Automobile Manufacturers (SIAM), the country's automotive industry produced a total of 22.93 million vehicles compared to 22.66 million units during April 2020 to March 2021.

Market Dynamics:

Driver:

Growing demand in automotive sector

Thermoplastic polyurethanes (TPU) market demand is driven by the automotive industry's increasing need for lightweight materials that improve performance and fuel economy. TPUs are being used more and more for external and interior parts, including as trims, dashboards, and seat covers, because of their superior strength, pliability, and visual appeal. The adoption of TPU is further aided by the automotive industry's move to electric vehicles, which call for cutting-edge materials that satisfy exacting performance and design requirements. As a result, TPUs are a popular option for cutting-edge automotive applications.

Restraint:

Stringent regulatory challenges

Tough regulatory requirements in the market for thermoplastic polyurethanes (TPU) may have a number of detrimental consequences. Manufacturers may incur higher expenditures in order to comply with intricate requirements pertaining to chemical composition, safety, and environmental impact. These rules may also restrict the availability of specific TPU materials in particular markets and hinder the development of new products. Furthermore, as producers may have to spend a lot of money to assure compliance, strict rules may impede the development and commercialization of novel TPU uses.

Opportunity:

Expansion of 3D printing technologies

As 3D printing technology makes it possible to produce intricate, personalized designs with increased flexibility and utility, its development is having a big impact on the market. TPUs are becoming more and more popular in additive manufacturing because of their superior mechanical qualities, which enable the production of robust and lightweight prototypes and final goods. A rising number of industries, including the automotive and healthcare sectors, are adopting TPU in their 3D printing applications due to this technological advancements ability to expedite production processes and reduce material waste.

Threat:

Fluctuations in crude oil prices

Crude oil price fluctuations have a detrimental impact on the TPU market because they raise uncertainty about the cost of raw materials, which can cause supply chains and manufacturing schedules to be disrupted. Manufacturers incur higher costs as oil prices rise in order to get essential inputs like polyols and isocyanates, which raises product pricing and lowers profitability. Due to this circumstance, businesses might be forced to pass costs on to customers, which could reduce demand. Furthermore, price volatility may impede long-term R&D spending, hence impeding innovation in the TPU sector.

Covid-19 Impact

Supply chain disruptions and shortages of raw materials were the main ways that the COVID-19 epidemic impacted the thermoplastic polyurethane (TPU) business. The ability of manufacturers to meet demand was impacted by production and shipping delays caused by lockdowns and restrictions. The market was further strained by a manufacturing slowdown in the automotive industry, which is a major consumer of TPU. To reduce risks, several businesses engaged in local sourcing and diversified their supplier networks as they tried to adapt. This change sparked breakthroughs in TPU uses across a range of industries while also highlighting the weaknesses in global supply systems.

The flexible TPU segment is expected to be the largest during the forecast period

The flexible TPU segment is estimated to be the largest, due to their remarkable elasticity, robustness, and adaptability to a wide range of applications. Due to their resilience to deterioration while retaining their flexibility, flexible TPU materials are becoming more and more popular in sectors like consumer goods, healthcare, and automotive. Their biocompatibility makes them appropriate for medical equipment; while their lightweight design helps increase fuel efficiency in vehicle applications. Additionally, customized solutions are made possible by advancements in manufacturing techniques, which increases their marketability.

The footwear segment is expected to have the highest CAGR during the forecast period

The footwear segment is anticipated to witness the highest CAGR during the forecast period, due to the growing need for footwear that is comfortable, strong, and fashionable. The creation of footwear with enhanced functionality and appearance is made possible by technological developments in TPU compositions and processing methods. Environmental concerns are also impacting the market because TPU is thought to be a more sustainable material than other materials used in the production of shoes. The need for TPU in the footwear sector is also being driven by the rising popularity of sports and casual footwear styles, which frequently use this material.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to the burgeoning automotive industry, rising urbanization, and fast industrialization. TPU usage for external trims and interior components is driven by the growing need for strong, lightweight materials in automobile applications. Furthermore, market growth is bolstered by the expanding healthcare and medical device manufacturing sectors as well as the thriving footwear industry. The rising demand for TPUs in a variety of applications around the region is also a result of government measures supporting sustainability and infrastructural development.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period, owing to the robust demand from the consumer goods, healthcare, and automobile industries. Fuel efficiency is improved by the automobile industry's move to lighter materials, which encourages the use of TPU in a variety of vehicle components. Furthermore, the development of bio-based TPUs is encouraged by the increased focus on environmentally benign and sustainable materials. Further driving market expansion are improvements in production techniques and a strong emphasis on research and development, which make it possible to provide customized solutions for a range of regional applications.

Key players in the market

Some of the key players profiled in the Thermoplastic Polyurethanes (TPU) Market include KURARAY CO., LTD., BASF SE, The Lubrizol Corporation, Covestro AG, Taiwan PU Corporation, Novotex Italiana S.p.A., AMERICAN POLYFILM, INC., Coim Group, Mitsui Chemicals, Inc., Sanyo Corporation of America, Huntsman International LLC, Wanhua Chemical Group Co., Ltd, Avient Corporation, HEXPOL AB, SONGWON, AVERY DENNISON CORPORATION, Tosoh Corporation, and Kolon Industries, Inc.

Key Developments:

In May 2023, Wanhua Chemical Group launched a new environmentally friendly TPU product line that uses renewable resources, aimed at reducing carbon footprint in production.

In March 2023, Hexpol TPE released a new series of TPU materials tailored for the medical sector, emphasizing biocompatibility and sterilization resistance.

In February 2023, Covestro introduced a new TPU solution for automotive applications, focusing on lightweight and durable components to improve fuel efficiency.

In January 2023, BASF SE Launched a new line of TPU grades specifically designed for 3D printing applications, enhancing flexibility and mechanical strength.

Types Covered:

• Flexible TPU
• Rigid TPU
• Elastomeric TPU
• Polyester
• Polyether
• Polycaprolactone
• Polycarbonate-Based TPU
• Other Types

Technologies Covered:

• Blow Molding
• Solvent Casting
• Lamination
• Extrusion
• Injection Molding
• Other Technologies

Raw Materials Covered:

• Diisocyanates
• Polyols
• Diols
• Adipic Acid

Applications Covered:

• Automotive Components
• Footwear
• Industrial Products
• Medical Devices
• Consumer Goods
• Industrial
• Hose & Tubing
• Wire & Cable
• Electronics
• Sports and Leisure
• Building and Construction
• Textile
• Heavy Engineering
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 Application Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Thermoplastic Polyurethanes (TPU) Market, By Type

• 5.1 Introduction
• 5.2 Flexible TPU
• 5.3 Rigid TPU
• 5.4 Elastomeric TPU
• 5.5 Polyester
• 5.6 Polyether
• 5.7 Polycaprolactone
• 5.8 Polycarbonate-Based TPU
• 5.9 Other Types

6 Global Thermoplastic Polyurethanes (TPU) Market, By Technology

• 6.1 Introduction
• 6.2 Blow Molding
• 6.3 Solvent Casting
• 6.4 Lamination
• 6.5 Extrusion
• 6.6 Injection Molding
• 6.7 Other Technologies

7 Global Thermoplastic Polyurethanes (TPU) Market, By Raw Material

• 7.1 Introduction
• 7.2 Diisocyanates
• 7.3 Polyols
• 7.4 Diols
• 7.5 Adipic Acid

8 Global Thermoplastic Polyurethanes (TPU) Market, By Application

• 8.1 Introduction
• 8.2 Automotive Components
• 8.3 Footwear
• 8.4 Industrial Products
• 8.5 Medical Devices
• 8.6 Consumer Goods
• 8.7 Industrial
• 8.8 Hose & Tubing
• 8.9 Wire & Cable
• 8.10 Electronics
• 8.11 Sports and Leisure
• 8.12 Building and Construction
• 8.13 Textile
• 8.14 Heavy Engineering
• 8.15 Other Applications

9 Global Thermoplastic Polyurethanes (TPU) Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 KURARAY CO., LTD.
• 11.2 BASF SE
• 11.3 The Lubrizol Corporation
• 11.4 Covestro AG
• 11.5 Taiwan PU Corporation
• 11.6 Novotex Italiana S.p.A.
• 11.7 AMERICAN POLYFILM, INC.
• 11.8 Coim Group
• 11.9 Mitsui Chemicals, Inc.
• 11.10 Sanyo Corporation of America
• 11.11 Huntsman International LLC
• 11.12 Wanhua Chemical Group Co., Ltd
• 11.13 Avient Corporation
• 11.14 HEXPOL AB
• 11.15 SONGWON
• 11.16 AVERY DENNISON CORPORATION
• 11.17 Tosoh Corporation
• 11.18 Kolon Industries, Inc