Global Thermoplastic Polyurethane Market to Grow At A Remarkable Pace In The Coming Years
Thermoplastic polyurethane (TPU) is currently a profitable market for the major thermoplastic elastomer and polyurethane manufacturers. Global Thermoplastic Polyurethane Market is anticipated to grow at a fast pace due to increasing demand from different regions and its vast application in various end-use industries. The applications of thermoplastic polyurethane have been expanding owing to its properties such as transparency, elasticity and resistance to oil, grease, and abrasion. The growth of the thermoplastic polyurethane market can also be boosted due to the rise in demand of footwear and cars and increasing demand in automotive sector in the coming years. In addition, thermoplastic polyurethanes application in medical is also expected to boost the growth of the TPU market in the near future.
Headway Polyurethane Co. Ltd., Bayer Material Science Ag, Huntsman Corporation, API Plastics, COIM, BASF SE, Lubrizol Corporation, Miracll Chemical Co. Ltd., Hexpol AB, Wanhua Chemical Group Co. Ltd are some of the prominent players operating in the global thermoplastic polyurethane market.
Thermoplastic Polyurethane Market - Key Geographical Markets
Asia Pacific is the one of the biggest market of thermoplastic polyurethane owing to demand in different industries such as construction, automotive, engineering, medical and others, in China region followed by India. However rising demand for automotive industry in the India, China, Taiwan and South Korea has made Asia Pacific largest consumer of the global thermoplastic polyurethane market followed by increase in the consumption of thermoplastic polyurethane market in Europe region. In European region, engineering sector drives the thermoplastic polyurethane market. In addition, North America is the third biggest market of thermoplastic polyurethane owing to large consumption in construction and automotive industry. Latin America and Middle East are also expected to observe significant growth of thermoplastic polyurethane market owing to large number of applications.
Some Common Types of Thermoplastic Polyurethane:
Polyester can be a thermoplastic or thermoset depending on the chemical structure. Polyester resins are cured by hardeners and the most common polyesters are thermoplastics. In 2016, the polyester type segment leads the thermoplastic polyurethane (TPU) market across the world in terms of both volume and value, which was then, followed by the polyether and polycaprolactone type segments. Polyester-based thermoplastic polyurethane (TPU) consists of properties such as stronger cut and tear resistance combined with better oil and heat resistance as compared to polyether-based thermoplastic polyurethane (TPU). In addition, cost of polyester-based thermoplastic polyurethane (TPU) is comparatively lower than polyether-based thermoplastic polyurethane (TPU). All these factors are anticipated to propel the growth of the polyester type segment of the thermoplastic polyurethane (TPU) market.
Polyether refers to
a class of organic substances which is prepared by joining together or polymerizing many molecules of monomers by establishing ether links between them. The polyether provides low temperature flexibility and good abrasion and tear resilience and they are slightly lower in specific gravity than polyester and polycarprolactone.
Polycaprolactone is widely used in the manufacture of speciality polyurethanes. The second largest market is anticipated to be occupied by polycaprolactones-based thermoplastic polyurethane and it imparts good water, oil, solvent and chlorine resistance to the polyurethane produced.
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