Polyester-Type Thermoplastic Polyurethanes Is Expected To Be the Highest Revenue-Generating Segment, Projected To Grow At A CAGR of Over 7%, Mentions Fact.MR

Asia is a highly opportunistic region for honey market, with bulk of the consumption rising in countries such as China and India

Rockville, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The Thermoplastic Polyurethanes Market revenues were estimated at US$ 3 Bn in 2021 and is anticipated to grow at a CAGR of 6% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 5.8 Billion.

The key type for Thermoplastic Polyurethanes includes Polyester where the Demand growth of Thermoplastic Polyurethanes was recorded at 6.2% during 2017 – 2021, while it is expected to grow at a CAGR of 7% during 2022 –2023. Polyester-based TPU is frequently used in applications where resistance to lubricants, fuel, and water is required.

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Additionally, since it generally provides exceptional transparency, polyester is commonly used in engineering and construction applications. Polyester is used to make a variety of products, including bottles, films, sails, filters, and insulating tapes. In order to create fabric blends that are used to make clothing, polyester can be combined with other natural fibers.

Key Takeaways from the Study

  • Thermoplastic Polyurethane Market was valued at US$ 3 Bn in 2021. According to Fact.MR, Thermoplastic Polyurethanes Market revenue would increase 1.9X between 2022 and 2032, reaching roughly US$ 5.8 Bn in 2032.

  • In terms of type, the revenue through polyester is projected to account for the highest projected CAGR of over 7.0%.

  • In terms of end-use, revenue through footwear is expected to account for the highest CAGR of 6% during 2017-21.

  • U.S. leads Thermoplastic Polyurethanes Market with an absolute dollar opportunity of over US$ 692 Mn.

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Competitive Landscape

Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Thermoplastic Polyurethane Market are focused on alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their Thermoplastic Polyurethane Market share.
Some of the recent developments in the Thermoplastic Polyurethane Market are:

  • In September 2021, KPX Chemical, a key producer of polyols for polyurethanes in South Korea partnered with Huntsman Corporation to create KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO. LTD (KHPUA). The joint venture will develop and offer cutting-edge polyurethane system solutions to the Korean automakers.

  • In May 2019, ASF announced that by 2022 it is planning to expand the Verbund factory in Zhanjiang, China's production of THERMOPLASTIC POLYURETHANES and technical plastics. With the expansion, the overall manufacturing capacity for these items in APAC will increase to 290,000 MTPA with this development. This growth would enable the business to better serve clients in APAC who have urgent demands.

Key Companies Covered

  • Covestro AG
  • The Lubrizol Corporation
  • Huntsman International LLC
  • Wanhua Chemical Group Co. Ltd.
  • COIM Group
  • Kuraray Co., Ltd
  • Entec Polymers
  • American Polyfilm Inc

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Thermoplastic Polyurethane Market Segmentation

  • By Type :
    • Polyester
    • Polyether
    • Polycaprolactone
  • By End-Use :
    • TPU for Footwear
    • TPU for Industrial Machinery
    • TPU for Automotive
    • TPU for Electronics
    • TPU for Other End-Uses
  • By Region :
    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the Thermoplastic Polyurethanes Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Thermoplastic Polyurethanes in terms of Type (Polyester, Polyether and Polycaprolactone) of End-Use (Footwear, Industrial Machinery, Automotive, Electronics and Other End-Uses) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Check out more related studies published by Fact.MR Research:

Polyurethane Market - Worldwide polyurethane consumption is valued at US$ 83.1 billion in 2022, and the market is forecast to reach US$ 162.3 billion by 2032, expanding at a high CAGR of 7% from 2022 to 2032. The global polyurethane market is likely to grow rapidly because of the various benefits of polyurethane, coupled with the rising application of polyurethane in different industries, with North America and Europe leading the way with around 60% market share.
Expanded Thermoplastic Polyurethane Market - The growth of the expanded thermoplastic polyurethanes is expected to be driven by the growing automotive industry. Growth in sales of sports and leisure goods owing to the growing influence of global sport events is expected to upsurge the expanded thermoplastic polyurethane demand in near future. Growth in the leather industry is expected to boost expanded thermoplastic polyurethane sales for shoe manufacturing applications.

Thermoplastic Vulcanizates (TPV) Market - Demand for thermoplastic elastomers (TPE) is on a significant rise, owing to growing use across automotive, fluid handling, consumer goods, and medical applications. Thermoplastic vulcanizates are estimated to emerge as one of the highly-desired TPE products through 2027, thereby driving thermoplastic vulcanizates market.

Reactor Thermoplastic Polyolefin Elastomer (TPO) Market - The global RTPO market is anticipated to value at US$ 673.3 million in 2022 and further expand at a CAGR of 4.5% to reach US$ 1,043.8 million by the end of 2032. Sales of RTPO accounted for nearly 13.4% of the global thermoplastic polyolefin (TPO) market at the end of 2021. The adoption across booming automotive sector fuels the demand for the market.

Reinforced Thermoplastic Pipes Market - The global reinforced thermoplastic pipe (RTP) market size is set to reach US$ 282.4 million in 2022 and is projected to grow at a CAGR of 4.7% to reach US$ 457.3 million by the end of 2032. Market share analysis of RTP based on pipe size and region is provided in a nutshell in the above image. Under the pipe size segment, up to 4 inches segment dominates with a 55.3% market share in 2022.

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