Global Thermoplastic Polyurethane Films Market is growing rapidly. Market growth attributes to the rising demand for biodegradable plastic materials. Owing to their environment-friendly nature, TPU films are extensively used in the manufacturing of medical devices. Besides, the increasing consumption of TPU films in the making of coatings, textile, adhesive, and barrier films escalates the growth of the market.
According to Market Research Future (MRFR), Global Thermoplastic Polyurethane Films Market is estimated to reach USD 554.1 MN by 2025, growing at 5 % CAGR during the review period (2019-2025). Substantial demand for TPU films from the electrical and electronics industry to improve electricals and electronic appliances’ efficiency boosts the growth of the market.
In automobiles, thermoplastic polyurethane films enhance fuel efficiency by reducing the weight of the vehicles, majorly used alternative to metal. Usages of TPU in the aerospace industry in the manufacturing of seating components and window glass lamination drive enormous market demand. The factors influencing the polyurethane market are bound to affect the Thermoplastic Polyurethane Films Market, equally.
As TPU flims are used in almost all emerging industries such as automotive, construction, and electrical, the demand for Thermoplastic Polyurethane Films is steadily heading forth. Over recent years, the market has been growing at high speed due to the greater adaptability and recyclability of TPU films that favor the sustainability principles.
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Thermoplastic Polyurethane Films Market – Segments
The report is segmented into three dynamics.
By Type : Polyester, Polyether, Polycaprolactone, and others.
By Application: Automotive, Aerospace, Energy, Construction, and others.
By Regions: Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Thermoplastic Polyurethane Films Market – Competitive Landscape
Highly Competitive, Global Thermoplastic Polyurethane Films Market appears to be diversified with the presence of many well-established players. To gain a substantial market share, innovation, mergers & acquisitions, and brand reinforcement remain the key trends for the players in the thermoplastic polyurethane films market. Prominent players expand their production capacity by acquiring promising companies in emerging regions or entering into a partnership to generate higher revenue.
Players Leading the Thermoplastic Polyurethane Films Market include Huntsman Corporation (US), Covestro (Germany), 3M (US), The Lubrizol Corporation (US), BASF SE (Germany), DuPont (US), ADDEV Materials (France), Permali Gloucester Limited (England), American Polyfilm, Inc (US), and DSM (Netherlands), among others.
Industry/ Innovation/ Related News:
May 11, 2020 —- Covestro AG (Germany), a specialty chemicals company and Teknor Apex Company (the US), a global plastics compound solutions provider, announced their partnership for processing compounding Thermoplastic Polyurethane (TPU) on a global scale. The co-operation agreement with Teknor Apex allows Covestro to develop customized products to grow together with our existing and new customers. Combined Covestro’s expertise in TPU resin and Teknor Apex’s custom formulation & compounding capabilities would provide a compelling value driver for their customers worldwide. The marketing of the jointly developed products would be under Covestro’s Desmoflex brand.
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Thermoplastic Polyurethane Films Market – Geographical Analysis
North America dominates the Global Thermoplastic Polyurethane Films Market. The largest market share attributes to the increasing application of TPU Films in the aerospace and construction industry. Besides, the growing absorption of TPU Films in growing end-use industries creates enormous market demand. The aircraft and automotive are the two dominant consumer industries of Thermoplastic Polyurethane Films in the region, providing impetus to the market growth. The North American Thermoplastic Polyurethane Films Market is expected to retain its leading position throughout the forecast period.
The Asia Pacific region stands second in the Global Thermoplastic Polyurethane Films Market, following the North American market closely. The market is growing at a phenomenal pace owing to an increase in demand for lightweight materials and films in electric vehicles. Besides, the rise in construction activities and high demand for energy in the industrial sector are key factors driving regional growth.
Countries like China, Japan, India, Thailand, South Korea, and Malaysia contribute a major share in revenue generation. The region is mulling to revive its infrastructural developments and the footwear industry, which, as a result, propels the demand for Thermoplastic Polyurethane Films in this region.
The constant rise of both the construction and automotive industry in this region is projected to continue fetching a significant share of the Thermoplastic Polyurethane Films demand in this region. The APAC Thermoplastic Polyurethane Films Market is estimated to grow at a considerable CAGR during the assessment period.
The European Thermoplastic Polyurethane Film is growing substantially. The massive consumption of Thermoplastic Polyurethane Films in the manufacturing of lightweight vehicles to enhance fuel efficiency and reduce carbon dioxide emission fosters the regional market demand. The well-established automotive and aircraft manufacturing industries in the region drive significant market demand.
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