Thermoplastic Polyurethane Films Market Holds Growth Of $548.10 Million By 2025: Grand View Research, Inc.

September 11 21:59 2019
Thermoplastic Polyurethane Films Market Holds Growth Of $548.10 Million By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Increasing healthcare spending coupled with growing automotive sector is projected to drive the thermoplastic polyurethane films market.

According to a report,“Thermoplastic Polyurethane (TPU) Films Market Size, Share & Trends Analysis Report By Application (Automotive, Railway, Leisure, Energy, Furniture, Aerospace), By Region (North America, APAC), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc.,  The global thermoplastic polyurethane films market size is anticipated to reach USD 548.1 million by 2025 expanding at a CAGR of 6.1%. Increasing healthcare spending coupled with growing automotive sector is projected to drive the market. Asia Pacific is the dominant regional market due to the strong presence of major companies, such as Huntsman, Nippon, and Lubrizol, with large production capacities. Asia Pacific is also the leading consumer of TPU films due to growing automotive, construction, and energy sectors.

Major manufacturers based out of North America and Europe have set up wide distribution networks in developing countries by acquiring regional companies. This is also likely to have a positive impact on the region’s growth. Moreover, reduced reliance on export to Western Europe and North America is projected to increase the investments and trade in the local markets of Asia Pacific. Availability of cheap labor and easy access to finance are also likely to support the domestic market growth.

In addition, growing population and rising income levels are anticipated to fuel the development further. Rising global aniline prices have impacted the profitability of TPU films producers as there is intense competition in the global market. Due to the presence of a large number of suppliers, buyers have the advantage of low switching cost; therefore, manufacturers cannot afford to lose out on their customers and in the process jeopardize their profitability. Bio-based alternatives of TPU are capable of replacing the synthetic (petroleum-based) TPU.

Bio-based TPUs are widely used in almost every end-use industry where synthetic product is being used. Bio-based films provide a clean solution to the growing demand for Thermoplastic Elastomers (TPEs). Wearables in the medical field are expected to provide many opportunities over the coming years. As per the data published by DuPont, conductors, printed on TPU films show good results. Increasing healthcare spending coupled with rising awareness are likely to assist the market growth of wearable technology, thereby developing new opportunity for the product.

Key Takeaways from the report:

  • Automotive is anticipated to be the largest application segment of the TPU films market during the forecast period on account of growing demand for vehicles

  • Aerospace is also predicted to witness a steady growth due to increasing demand from emerging countries, such as China and India

  • Asia Pacific was the second-largest regional market and accounted for 29.6% of revenue share in 2018 owing to the rapid development of automotive and construction sectors in the region

  • The 3M Company, Bayer Material Science, Huntsman Corp., Permali Gloucester Ltd. are the major companies in the global market

  • Most of these companies emphasize on their R&D activities for novel product development

China Thermoplastic Polyurethane (TPU) films market size, by application, 2014 - 2025 (USD Million)

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Global Thermoplastic Polyurethane (TPU) films market share, by region, 2018 (%)

Regional Insights

Asia Pacific is expected to be the largest and fastest-growing regional market. Government policies favoring different industries coupled with the expansion of the medical, automotive, and construction sectors in the region are likely to drive the region’s growth. Increasing consumer disposable income levels are also anticipated to contribute to the TPU Films market expansion.

Government support aimed at increasing the FDI flow along with rising spending capacities in many developing countries is also likely to boost the market. Moreover, focus on infrastructure development will lead to an increased demand from industries, such as railway, building & construction, aerospace, and energy.

North America acquired the revenue share of 32.24% in 2018. The region is characterized by the presence of medium- and large-scale aerospace and component manufacturers. Increasing agriculture production in countries, such as China, U.S., India, Brazil, Mexico, and Russia, is also projected to assist the overall market growth. Emerging applications including animal identification tags are further expected to provide growth opportunities for the global market over the coming years.

Thermoplastic Polyurethane (TPU) Films Market Share Insights

The global market is highly competitive. Thus, companies are concentrating on the development of bio-based films for sustainable solutions. Some of the key companies in the market include Huntsman Corporation, Bayer Material Science, 3M Company, PAR Group, MH&W International Corp., Permali Gloucester Ltd., Avery Dennison, BASF SE, Nippon Polyurethane, and Lubrizol.

The market is fragmented with the presence of a large number of small- and medium-scale manufacturers. One of the key reasons for market fragmentation is the strong presence of local manufacturers and suppliers, particularly in China. Companies are also concentrating on customization of products, strategic partnerships, and new customer acquisitions to gain more market shares.

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About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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