Thermoplastic Polyurethane Films Market Growth & Trends

The global thermoplastic polyurethane films market size is expected to reach USD 586.25 million by 2030, registering a CAGR of 5.4% from 2023 to 2030 according to a new study by Grand View Research, Inc. thermoplastic polyurethane (TPU) films are produced from TPU pellets, manufactured using polyether polyurethanes or polyester polyurethanes.

Asia Pacific dominates the market in terms of TPU film production as well as consumption, on account of being a leading market for automobiles, sports goods, and construction. China and India have overshadowed other Asian markets, accounting for more than 60.0% of the total regional volume in 2022. Moreover, growing environmental concerns regarding the use of various plastics have also helped in technological advancements in the region. Asia Pacific is also a hub for major TPU film production with large production capacities of the companies such as Huntsman, Nippon, Lubrizol, etc.

The growth of the global automobile industry is considered to be a key macro factor behind the growing demand for TPU films. TPU films are largely used in the automobile industry and account for the largest share of the global market. Thermoplastic polyurethanes provide a holistic approach to auto parts manufacturing by covering all of the aspects, owing to which they are vastly preferred by the automobile industry over other materials. TPU films are easy to use for a variety of manufacturing processes including flame and heat lamination or vacuum and platen pressing. TPU films exhibit excellent low-temperature flexibility and a soft hand.

Major players in the market are involved in new product launches, mergers & acquisitions, and collaborations to sustain the market competition. For instance, on April 22, 2022, Covestro AG decided to expand its production capacities for the thermoplastic polyurethane (TPU) films in the Bomlitz site in Germany, as well as the associated infrastructure and logistics. The new capacity is intended to meet the growing demand for the multilayer TPU films used in automotive interiors, construction, wound care, and outdoor clothing. The new facilities are scheduled for completion by the end of 2023.

Thermoplastic Polyurethane Films Market Highlights

  • Asia Pacific accounted for the major share of the thermoplastic polyurethane (TPU) films market in 2022. It is expected to expand at a CAGR of 6.1% during the forecast period. In Asia Pacific, China and India are among the fastest-growing economy
  • Owing to their excellent gas permeability, TPU films are becoming the material of choice for leisure sports products manufacturers, which is expected to be a key application for the market participants in the near future. The use of TPU films offers excellent protection for leisure sports products in different weather conditions. TPU films are used for making waterproof gloves and costumes, breathable socks, footwear, hats, etc.
  • On June 21, 2021, Huntsman Corporation have developed a new thermoplastic polyurethane (TPU) grade IROGRAN A 85 P 4394 HR TPU for technical extrusion parts and blown film applications that offer significant improvements over previous generation technologies which helps to durability, production efficiency, and reducing manufacturing waste. These new products are developed to solve the problems of customers in diverse markets including; flat hoses used in high-pressure industrial and municipal applications in addition to textile lamination