Thermoplastic polyurethane films are manufactured through various techniques. The main ones include film blowing and chill-roll extrusion. The production processes of these films will influence their mechanical and structural characteristics. Some films are reinforced with carbon nanotubes. These films can be used in many different applications, including flooring, walls, and insulation. Thermoplastic Polyurethane (TPU) Films market growth is being driven by the growing population and spending power of developing countries. The rapid growth of these countries has led to the development of various industries.
Market Statistics:
The global Thermoplastic Polyurethane (TPU) Films Market is estimated to account for US$ 419.46 Mn in terms of value by the end of 2021.
Global Thermoplastic Polyurethane (TPU) Films Market: Drivers
Increasing sale of electric vehicles as TPU is used to make EVs is driving growth of the Thermoplastic Polyurethane (TPU) Films market. According to International Energy Agency (IEA), in 2030, global electric vehicle sales (EV) are expected to reach 125 million as per the new policies scenario (excluding two/three-wheelers). In the EV30@30 Scenario, in 2030, around 70% of the vehicle sales in China are expected to be EVs. Also, half of the vehicles sold in Europe are likely to be EVs by 2030, 37% in Japan, 30% in Canada and the United States, and 29% in India.
Global Thermoplastic Polyurethane (TPU) Films Market: Opportunities
Growing focus of key players to develop improved version of Thermoplastic Polyurethane in order to expand their application is projected to provide significant growth opportunities over the forecast period. For instance, in July 2021, Huntsman developed a new thermoplastic polyurethane (TPU) for technical textile manufacturers, which make high-performance fabrics for outdoor garments and other consumer and industrial uses.
Global Thermoplastic Polyurethane (TPU) Films Market: Restraints
Negative impact of Covid-19 on the global economy is projected to hinder the Thermoplastic Polyurethane (TPU) Films market growth.
To know the latest trends and insights prevalent in The Global Thermoplastic Polyurethane (TPU) Films Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/thermoplastic-polyurethane-films-market-5283
Global Thermoplastic Polyurethane (TPU) Films Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic had severely affected the Thermoplastic Polyurethane (TPU) Films market, but the market has now been projected to be at pre-pandemic levels and is estimated to grow at a steady pace in the near future.
Key Takeaways:
The global Thermoplastic Polyurethane (TPU) Films market was valued at US$ 419.46 Mn in 2021 and is forecast to reach a value of US$ 680.00 Mn by 2030 at a CAGR of 6.10% between 2022 and 2030.
Polyether segment held dominant position in the global Thermoplastic Polyurethane (TPU) Films market in 2020, accounting for 46.81% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Thermoplastic Polyurethane (TPU) Films Market Trends:
Strong growth in footwear and apparel industry due to increasing consumer’s disposable income is expected to act as catalyst to the Thermoplastic Polyurethane (TPU) Films market growth. According to the Coherent Market Insights analysis, India is the second-largest footwear manufacturer in the world, with 9% of the annual global production of 22 billion pairs. Nearly 90% of the manufactured footwear is consumed in the country, and the rest are exported. The consumption of footwear stands at around 2.1 billion pairs, and it ranks third after China and United States.
Expanding textile industry is also projected to play significant role in the overall development of Thermoplastic Polyurethane (TPU) Films market. Key players in home textile market is adopting various growth strategies to meet consumer demand is also projected to propel market growth. For instance, in October 2021, Welspun India collaborated with DuPont Biomaterials to introduce a home textile range and strengthen the company’s sustainable textiles business. The growing initiatives in the textile industry are anticipated to benefit the demand for TPU films
Global Thermoplastic Polyurethane (TPU) Films Market: Competitive Landscape
3M, American Polyfilm Inc., Avery Dennison Corporation, Covestro AG, Ding Zing Advanced Materials Inc., Gerlinger Industries GmbH, Huntsman International LLC, Okura Industrial Co. Ltd, Permali Gloucester Ltd, Schweitzer-Mauduit International Inc., Wiman Corporation, and The Lubrizol Corporation
Global Thermoplastic Polyurethane (TPU) Films Market: Recent Developments
In September 2021, KPX Chemical, a polyols producer for polyurethanes in Korea, and Huntsman Corporation, together establishment a joint venture named KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO., LTD. (KHPUA). The joint venture will create and provide innovative polyurethane system solutions to Korean automakers.
