Thermoplastic Polyurethane Market by Raw Material, Type, End-User

Description

List of Tables

[184 Pages Report] The Thermoplastic Polyurethane Market size was estimated at USD 31.53 billion in 2023 and expected to reach USD 34.25 billion in 2024, at a CAGR 8.73% to reach USD 56.67 billion by 2030.

Thermoplastic polyurethane (TPU) has various qualities, including transparency, flexibility, and resistance to oil, grease, and abrasion. They are thermoplastic elastomers of linear segmented block copolymers with hard and soft segments. Foams based on thermoplastic polyurethanes have gained importance as they are elastic, thermoplastically processable materials and can be further reprocessed or recycled. TPU is increasingly used in medical applications due to its superior performance, chemical and lubricant resistance, improved mechanical capabilities, and increased durability. However, variations in the cost of raw materials and the elevated cost of TPU impede the adoption of thermoplastic polyurethanes. Furthermore, technological developments, breakthroughs in thermoplastic polyurethane, and material improvements to make it easier to produce, cheaper, and more environmentally friendly material drive market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 31.53 billion
Estimated Year [2024]	USD 34.25 billion
Forecast Year [2030]	USD 56.67 billion
CAGR (%)	8.73%

Raw Material: Increasing use of polyols for improved flexibility and durability of TPUs

Diisocyanates are a group of chemical compounds used extensively in producing thermoplastic polyurethane (TPU). Diisocyanates are crucial in forming the polymer's backbone, reacting with diols and polyols. The choice between different types of diisocyanates is primarily based on the desired properties of the final product, such as elasticity, rigidity, and chemical resistance. Methylene diphenyl diisocyanate is favored for creating more rigid TPUs, while toluene diisocyanate is preferred for more flexible variations. Diols, or dihydroxy alcohols, are another key component in the synthesis of TPUs. The choice of diol can significantly influence the polymer characteristics, such as hydrolysis resistance, mechanical strength, and thermal stability. Common diols include ethylene glycol, butanediol (1,4-BD), and polyethylene glycols (PEGs). Polyols are multifunctional compounds with multiple hydroxyl groups, used in conjunction with diisocyanates and diols to produce TPUs. Polyols confer distinct properties on the TPU, including enhanced flexibility, durability, and resistance to abrasion and impact. Polyester polyols are typically used where excellent mechanical properties and chemical resistance are required, while polyether polyols are chosen for their superior hydrolysis resistance and low-temperature performance.

End-User: Widespread application of TPUs in automotive sector

In the automotive industry, TPU is favored for its durability, flexibility, and ability to withstand extreme environments. Applications include car interiors, exterior parts, and under-the-hood components. TPU's excellent properties, such as weather resistance and structural strength, make it ideal for building and construction applications. From kitchen utensils to sports equipment, consumer goods benefit from TPU's versatility and safety for its aesthetic finishes and physical resilience. TPU is utilized for protective cases, cables, and components in the electronics industry due to its excellent abrasion resistance and flexibility. TPU's cushioning properties and design flexibility make it a popular choice for midsoles and outsoles in the footwear industry. TPU is valued in industrial machinery for its mechanical strength and chemical resistance, often used in hoses, gaskets, and seals. The medical sector utilizes TPU for its biocompatibility, making it suitable for various applications, including catheters and wound care products. TPU contributes to the textile industry by offering solutions for waterproofing and enhancing fabric durability.

Regional Insights

The advent of smart manufacturing, changing consumer taste, and the mechanization of industries with supportive government initiatives create a significant demand for thermoplastic polyurethane in the Americas region. In Asia-Pacific, thermoplastic polyurethane is widely utilized in automotive, medical devices, construction materials, electronics, and footwear. Most manufacturing sectors in emerging economies are triggering the demand for thermoplastic polyurethane. The overgrowing shift toward electric vehicles and increasing adoption of automobiles are encouraging the thermoplastic polyurethane market for manufacturing automobiles in the region. In Europe, the thermoplastic polyurethanes market has been positively affected by the growing usability of thermoplastic polyurethanes in the construction sector, as thermoplastic polyurethane films offer a unique combination of excellent abrasion wear, tear strength, and puncture resistance.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Thermoplastic Polyurethane Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Thermoplastic Polyurethane Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Thermoplastic Polyurethane Market, highlighting leading vendors and their innovative profiles. These include American Polyfilm Inc., Avient Corporation, BASF SE, Biesterfeld AG, Chemex Organochem Pvt Ltd, COIM SpA, Covestro AG, Dongguan Xionglin New Material Technology Co., Ltd, Epaflex Polyurethanes S.r.l., geba Kunststoffcompounds GmbH, HEXPOL AB, Huntsman Corporation, Kent Elastomer Products, Inc. by Meridian Industries, Inc., Mitsubishi Chemical Group, Mitsui Chemicals, Inc., Novoloop, PAR Group, Ravago, Shandong INOV Polyurethane Co., Ltd., Shanghai Xin Gen Eco-Technologies Co., Ltd. to, Songwon Industrial Co., Ltd., Taiwan Pu Corporation, The Lubrizol Corporation by Berkshire Hathaway Inc., Treatstock Inc., Trinseo PLC, and Wanhua Chemical Group Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Thermoplastic Polyurethane Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material
- Diisocyanate
- Diols
- Polyols

Type
- Polycaprolactone
- Polyester
- Polyether

End-User
- Automotive
  - Exterior Body Parts
  - Interior Body Parts

Building & Construction
Consumer Goods
Electronics
- Electronic Devices
- Wires & Cables

Footwear
- Shoe
- Slipper
- Sole

Industrial Machiery
- Belts & Profiles
- Seals & Gaskets
- Wheels & Rollers

Medical
- Catheters
- Medical Device Housing
- Wound Care Products

Textile

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Thermoplastic Polyurethane Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Thermoplastic Polyurethane Market?

3. What are the technology trends and regulatory frameworks in the Thermoplastic Polyurethane Market?

4. What is the market share of the leading vendors in the Thermoplastic Polyurethane Market?

5. Which modes and strategic moves are suitable for entering the Thermoplastic Polyurethane Market?

Product Code: MRR-7F4F2EE29870

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing number of thermoplastic polyurethane applications in the medical sector
  - 5.1.1.2. Increasing thermoplastic polyurethane usage in the footwear and apparel industries
  - 5.1.1.3. Rising usage of the product in automotive applications
- 5.1.2. Restraints
  - 5.1.2.1. High cost of thermoplastic polyurethane compared to other conventional material
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of bio-based thermoplastic polyurethane to replace polyvinyl chloride
  - 5.1.3.2. Technological advancements and innovations in thermoplastic polyurethane
- 5.1.4. Challenges
  - 5.1.4.1. Volatility in the prices of thermoplastic polyurethane raw materials
5.2. Market Segmentation Analysis
- 5.2.1. Raw Material: Increasing use of polyols for improved flexibility and durability of TPUs
- 5.2.2. End-User: Widespread application of TPUs in automotive sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Thermoplastic Polyurethane Market, by Raw Material

6.1. Introduction
6.2. Diisocyanate
6.3. Diols
6.4. Polyols

7. Thermoplastic Polyurethane Market, by Type

7.1. Introduction
7.2. Polycaprolactone
7.3. Polyester
7.4. Polyether

8. Thermoplastic Polyurethane Market, by End-User

8.1. Introduction
8.2. Automotive
8.3. Building & Construction
8.4. Consumer Goods
8.5. Electronics
8.6. Footwear
8.7. Industrial Machiery
8.8. Medical
8.9. Textile

9. Americas Thermoplastic Polyurethane Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Thermoplastic Polyurethane Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Thermoplastic Polyurethane Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Covestro to build its largest TPU site in China
- 12.3.2. Lubrizol introduces novel TPU solution exclusively for HP Multi Jet Fusion 3D printing
- 12.3.3. Novoloop partners with on to introduce world's first chemically upcycled TPU outsole in cloudprime
- 12.3.4. Lubrizol Inaugurates Shanghai TPU Line
- 12.3.5. BASF launches thermoplastic polyurethane paint protection film from RODIM for improved car paint protection
- 12.3.6. Lanxess adds new sustainable product variants to Tepex composites range
- 12.3.7. Novoloop raises $11M Series A to advance upcycling for plastic waste

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio