by Thermoplastic polyurethane (TPU) films are synthetic resins known for their elasticity, toughness and other favorable mechanical properties. They offer excellent abrasion resistance, flexibility, moisture and chemical resistance. TPU films find widespread applications in industries such as automotive, footwear, building & construction and medical.
The global Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 472.19 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the TPU films market is their increasing usage in various industrial applications such as hoses, tubes and belts owing to properties like high tensile strength, durability and chemical resistance. TPU films are preferred over rubber and plastics for such applications. Another major trend is the growth in demand for TPU films from the footwear industry. TPU films provide a comfortable feel and breathability to shoes. They are also being increasingly used as an alternative to PVC in medical devices and equipment due to their biocompatibility. Rising applications across diverse end use industries are expected to drive the demand for TPU films over the forecast period.
SWOT Analysis
Strength: TPU films provide flexibility, resistance to chemicals, abrasion and impact which makes them suitable for various industrial applications. They also offer advantages like transparency, lightweight and thermal bonding properties.
Weakness: High cost of production compared to other polymeric films restricts their use in low-cost applications. Fluctuations in raw material prices also affect the cost of TPU films.
Opportunity: Growing demand for TPU films from automotive, building & construction and medical industries due to their superior properties is creating new avenues. Increasing adoption of TPU coatings in electronics is another opportunity.
Threats: stringent environmental regulations around plastic waste disposal pose a threat. Substitution threat from other engineering thermoplastic films with comparable properties also exists.
Key Takeaways
The Global Thermoplastic Polyurethane (Tpu) Films Market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing demand from automotive industry. TPU films find major applications as protective and decorative films in vehicle interiors and exteriors owing to properties like durability, flexibility and abrasion resistance.
Regional analysis
Asia Pacific dominates the global TPU films market and is expected to maintain its lead during the forecast period. This can be attributed to strong presence of automotive and electronics industries in China, India, Japan and South Korea which generates high demand for TPU films in these regions. North America is another major market backed by high vehicle production while Europe is anticipated to showcase decent growth.
Key players
Key players operating in the Thermoplastic Polyurethane (TPU) Films are 3M, American Polyfilm Inc., Avery Dennison Corporation, Covestro AG, Ding Zing Advanced Materials Inc., Gerlinger Industries GmbH, Huntsman International LLC, Okura Industrial Co. Ltd, Permali Gloucester Ltd, Schweitzer-Mauduit International Inc., Wiman Corporation, and The Lubrizol Corporation. The competitive landscape is quite concentrated with leading players focusing on new product launches and capacity expansions to strengthen their positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
