Increasing market stabbing in automotive industry is expected to favor the thermoplastic polyurethane films market. The after replacement/sales market has become a central point for the utilization of TPU films in automotive industry over the recent years. Growing usage of polyether based films in healthcare applications is expected to provide positive avenues over next six years. Increasing use of TPU films in industries such as railway and aerospace & construction is expected to favour market growth over the forecast period. Strict environmental regulations regarding the use of hazardous resources may pose a challenge to the market growth over next six years. Agencies such as REACH, EPA and OSHA have made registration compulsory for companies functioning in the market.
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Increasing use of bio-based raw materials for the production of thermoplastic polyurethane films is further expected to boost the market over the forecast period. Growing development of new supplements to improve the specifications of the product is expected to drive the market. Major companies in the TPU films market are trying to achieve sustainability through enhanced technologies and product innovation. Market players such as Arkema, PolyOne, Merquinsa and DuPont have already experimented into the TPU films market. Growing research and development on sustainable TPU films is expected to provide opportunities to market players over the next six years. Changeable prices of raw materials such as aniline and propylene are expected to impact polyol supply which may affect profitability for players in the TPU films market.
TPU films market is segmented on the basis of application such as automotive, leisure & sports, railways, energy, furniture, building & construction and aerospace. Increasing use in automotive components such as levers, instrument panels and sensors is expected to provide new growth avenues to automotive applications. Growing GDP, rapid industrialization and urbanization has led to increase in government spending on infrastructure inemerging countries such as India and China. These factors are anticipated to boost the market demand in Asia Pacific. Furthermore, thermoplastic polyurethane offers better surface protection to windmill blades and solar panels. Growing number of wind power and solar power installations is expected to drive the demand for TPU films market over next five years. These are widely used in interior panels, masks, aerospace industry for armrest surfaces, seat cushions, aircraft cable and wire jacketing. Growing usage of thermoplastics in aircrafts and technological advancements in aviation sector are also expected to favorably impact the market over the next six years.
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Asia-Pacific is expected to emerge as high growth regional market owing to growing demand in countries such as China and India. Growing infrastructure and automotive industries in developing countries are also expected to witness considerable growth over the next six years. Growing application of TPU films in sports & leisure is expected to witness considerable growth in Europe. Increasing construction, penetration in automotive and energy applications is expected to drive the market demand in North America. Decrease in economic conditions of Europe has hampered the growth of major industries such as construction, automotive and aerospace which is likely to restrict the market growth over the forecast period.
TPU films are highly fragmented owing to increase in presence of suppliers and domestic manufactures in China. Key industry participants include Permali Gloucester Limited., Huntsman Corporation, Bayer Material Science, PAR Group, Lubrizol, BASF, Yantai Wanhua, Nippon Polyurethane, MH&W International Corp. and others. Market participants enter into mergers & acquisitions to sustain in the market. EMA Kimya Sistemleri Sanayi ve Ticaret A.S. was acquired by Huntsman Corp. of U.S.
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