Thermoplastic Polyurethane Industry Driven by Extensive Growth of Global Automotive and Footwear Industries

According to a recent publication by Transparency Market Research (TMR), the global thermoplastic polyurethane (TPU) industry is expected to grow at a 5.5% CAGR during the period of 2013-2018, reaching US$1,746.9 million by the end of the forecast period. The global TPU market stood at US$987.2 million in 2010.The research report, titled “Thermoplastic Polyurethane (TPU) Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast, 2012 - 2018”, states that the global market for TPU is stimulated by the extensive development of the global footwear and automotive industries.

Thermoplastic polyurethane, or TPU, belongs to a class of elastomers completely thermoplastic in nature and possesses in abundance the distinguishing characteristics of elastomers such as elasticity and process ability on melting. Due to its elasticity, transparency, and oil resistance, TPU is employed on a large scale in various industry verticals. Paints and coatings, injection molding, adhesives and sealants, and extrusion are the major applications for TPU. In terms of volume produced and revenue generated, the TPU industry is headed by the application segment of extrusion. By volume, this market is expected to grow at a CAGR of 5.1% during the forecast period. In addition to this, the market for injection molding and the adhesive and sealants industry is also going through a significant phase of growth. In terms of revenue, the extrusion industry is developing at a CAGR of 5.7% during the forecast period.

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Thermoplastic polyurethane finds its application in end-use industries such as construction, automotive, wire and cable, electronics and appliances, footwear, hose and tubing, and others such as industrial insulation, and CASE. The wire and cable industry leads the global market in terms of volume and revenue. Based on the revenue generated, the wire and cable market is expected to grow at a CAGR of 5.9% during the forecast period. The expansion of the global automotive industry is also driving the TPU industry significantly.

The global TPU industry is spread across various regional markets such as North America; Europe, the Middle East, and Africa; Asia Pacific; and Rest of the World. The EMEA region dominates the global TPU market. In terms of the revenue generated, the market in this region is expanding at the highest CAGR of all regional markets during the forecast period – 4.9%. The TPU market in Asia Pacific is also expected to report significant growth during the forecast period.

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In the EMEA region, Germany leads the TPU industry on the basis of revenue generated and volume produced. The markets for TPU in the U.K and Italy stand second and third, respectively. In the TPU industry in Asia Pacific, China is the largest market in terms of volume produced. This market is expected to expand at a CAGR of 7.8% during the forecast period. The markets for TPU in the Rest of the World segment are also exhibiting enormous potential for growth.

Bayer AG, Huntsman Corporation, BASF, Dow Chemicals, Merquinsa, Nippon Polyurethane, Yantai Wanhua Polyurethane Co., Ltd, and Lubrizol are the major players of the global market for thermoplastic polyurethane.

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