25 July 2019 - Global Thermoplastic
Polyurethane Market is
anticipated to grow considerably in the forecast period. A distinctive class of
plastic is produced when polyaddition happens between a diisocyanate and one or
more diols. This plastic is referred to as “Thermoplastic Polyurethane”. They
have many useful properties such as resistance to oil, elasticity, grease and
abrasion, etc. The factors that propel the growth of the market include its
substitution with conventional materials in end user industry, improved
abrasion resistance, growing populace, and increasing buying power of individuals.
On
the other hand, there are factors that may hamper the development of the market
including rising environmental concerns with the production and usage of
thermoplastic polyurethanes. Thermoplastic Polyurethane Market is anticipated
to grow at a significant CAGR of 7.5% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
The
market may be explored by type, application, and geography. The market may be
explored by type as Polyester, Polycaprolactone, and Polyether. The “Polyester”
sector led the market in 2016 and is anticipated to maintain its dominance by
2020 owing to suitability of polyester in a number of applications in numerous
end-use industries, such as engineering, automotive, and construction &
building among others.
The
key applications that could be explored in the Thermoplastic Polyurethane
Market include Footwear, Automotive, Engineering, Wires & Cables, Building
& Construction, Medical, and Hose & Tubing. The “Footwear” sector led
the market in 2016 and is anticipated to maintain its dominance by 2020.
Footwear segment is followed by Wires and Cables.
Asia-Pacific
accounted for the major share of the Thermoplastic Polyurethane Market Size in
2016 and will continue to lead in the forecast period. The factors that could
be attributed to the growth includes growing demand for thermoplastic
polyurethane from developing countries, such as China and India. China is the
major market for thermoplastic polyurethanes in the Asia-Pacific region.
Some
of the key players that fuel the growth of the Thermoplastic Polyurethane
Market comprise BASF SE, API Plastics, Bayer Material Science AG, Wanhua
Chemical Group Co. Ltd, Hexpol AB, COIM, Headway Polyurethane Co. Ltd.,
Huntsman Corporation, Miracll Chemical Co. Ltd., Lubrizol Corporation, and
others. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Market Segment:
Key Applications
•
Automotive
•
Construction
•
Electronic & Electrical
•
Engineering
•
Footwear
•
Hose & Tubing
•
Medical
•
Wires & Cables
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
BASF
•
Covestro
•
Huntsman
•
Lubrizol
•
Wanhua Group
•
Sumei Chemical
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