Thermoplastic Polyurethane Market worth $2.2 Billion by 2018

Wednesday 9 April 2014, Amsterdam

The market is segmented, and consumption and revenues are forecasted on the basis of major regions such as North America, Western Europe, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of major end-user industries such as automotive, building & construction, engineering, footwear, hose & tubing, medical, and wire & cable.

TPU is replacing materials that are conventionally used in several industries due to its properties to satisfy demands arising from the end-user industries. Current innovation in TPU resulted in making it more superior to replace other material and perform even better. TPU is expected to replace metals in automobile applications as its impact resistance is higher and it weighs lighter than the metal. Recent development has resulted in high temperature resistance making it adaptable for high temperature applications. These factors add to the growth of TPU market.

Evolving Bio-based TPU grades are expected to create future market spaces for the plastic.


Footwear Industry–Major Market for TPU

TPU are mainly used in industrial application, coatings, and adhesives. Commercially available TPU differs for each end-user market. TPU is useful in applications such as automotive, building & construction, engineering, footwear, hose & tubing, medical, and wire & cable. TPU is used in wide range applications from automobile components to shoe sole. Use of TPU by these industries helps them making more efficient and effective products, to deliver better performance.


Global TPU market to reach $2.2 billion by 2018

The global market for TPU in terms of revenue was estimated to be worth $1.4 billion in 2012 and is expected to reach $2.2 billion by 2018, growing at a CAGR of 7.2%, in terms of revenue, from 2013 to 2018. APAC region dominated the global TPU market, accounting for 52.8% of the global TPU market revenue in 2012. APAC is expected to have the highest market revenue in 2018 followed by the Western European market. ROW, a collection of individual country markets, is expected to be the fastest growing market in the future, with a CAGR of 7.7% from 2013 to 2018, owing to the rising consumption in this region where the end-user markets of TPU are growing steadily. The Western European market is expected to grow at a rate of 6.5%, in revenue terms and 4.9% in consumption terms from 2013 to 2018.