Albany,NY - November 23, 2017 - (Newswire.com)
The global market for thermoplastic polyurethane (TPU) films is typified by the presence of numerous well known and big corporates, who collectively account for more than half of the overall market. Prominent manufacturers plying their trade in the global market for thermoplastic polyurethane films include names such as Covestro AG, BASF SE, Huafon Group, Lejoin Polyurethane Industrial Co. Ltd., Wanhua Chemical Group Co. Ltd., Tosoh Corporation, Polyol Macromolecule Polymer (Fujian) Co. Ltd., and Huntsman Corporation.
The prominent players in the global market for thermoplastic polyurethane are indulging into key business activities such as mergers, forming partnerships, taking over regional companies to broaden their business horizons and the production of the thermoplastic polyurethane and the raw materials. This is projected to raise the stakes of overall competition in the global thermoplastic polyurethane market over the given period of forecast. The nature of the global market is very capital-intensive and the existence of well known thermoplastic polyurethane film companies in the world market is expected to create considerable challenges for the new and upcoming players to make their mark.
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The global market for thermoplastic polyurethane films stood at an overall valuation of US$286.8 mn in the year 2015. This valuation is expected to grow and reach a figure worth US$516.9 mn over the course of the given forecast period of 2016 to 2024. This growth of the market is expected to be achieved with the help of a steady CAGR of 6.8% during the given period of forecast. The overall demand of the thermoplastic polyurethane films across the globe is projected to touch 79,361.8 tons by the fall of the aforementioned forecast period.
The polyester thermoplastic polyurethane films segment was leading with respect to product in the global market in 2015. The segment led in terms of both volume as well as value, and is expected to US$212.8 mn by the end of 2024. On the other side, polycaprolactone TPU segment is projected to show the strong growth rate of 7.0% during the given forecast period with respect to revenue.
Increase in Sales of Automobiles to Drive Market Growth
The overall growth in the sales of automobiles is expected to augment the all-round demand for the thermoplastic polyurethane films in the emerging nation during the course of the given forecast period of 2016 2024. Emerging economies such as Brazil, Russia, India, China, and South Africa (BRICS nation) are projected to experience a significant growth in their GDP over the next few years and hence, production activities across several industries are expected to grow in the coming years. This also is true for the global automotive industry, which is the chief end user of the thermoplastic polyurethane films.
The TPU films are being used extensively in the global automotive industry to cut down the overall weight of the components and parts of the automotive and enhance the overall efficiency. These films are also useful in designing and engineering of vibration and noise absorption of the parts of automobile such as seating in fills, thermal insulation covers for bays of engine, and interior door panels.
Rising Prices of Raw Materials to Hamper Market Development
However, there are some factors which are projected to negatively impact the overall growth of the global thermoplastic polyurethane market in the coming years of the forecast period of 2016 to 2024. One of the major restraining factor for the growth of the global TPU market is the ever increasing costs of the raw materials. In addition this increasing prevalence alternatives is also expected to slow down the market growth.
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Thermoplastic Polyurethane Films Market
Thermoplastic Polyurethane Films Market Research
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Original Source: Thermoplastic Polyurethane Market: Significant Growth in Manufacturing BRICS Countries to Drive Market Growth, Notes TMR