Thermoplastic Polyurethane (TPU) Market worth $4.6 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 31, 2023 /PRNewswire/ -- The report "Thermoplastic Polyurethane (TPU) Market Raw Material (Diisocyanates, Polyols, Diols), Type (Polyester, Polyether, Polycaprolactone), End-Use Industry (Footwear, Industrial, Machinery, Automotive, Electronics, Medical), and Region - Global Forecast to 2027", is projected to reach USD 4.6 billion by 2027, at a CAGR of 7.1% from USD 3.2 billion in 2022.

The TPU market is mainly driven by the demand for TPU in various end-use industries, including automotive, medical, industrial machinery, footwear, and electronics, coupled with the replacement of conventional materials with TPU. Moreover, it is also driven by rapidly developing and emerging economies such as India, China, and Taiwan.

Browse in-depth TOC on "Thermoplastic Polyurethane (TPU) Market"

272 – Tables
45 – Figures
242 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1091

"Diisocyanato's raw material is projected to grow at fastest CAGR, in terms of volume, during the forecast period."

Diisocyanates raw material is projected to be the fastest-growing segment in the global TPU market, in terms of volume, during the forecast period. Diisocyanates are an essential material used in the manufacturing of TPU as it reacts with polyols to form polyurethane chains that offer the material its desirable properties, including elasticity, durability, and resistance to chemicals and abrasion.

"Polycaprolactone is projected to be the fastest growing type in the TPU market, in terms of value."

Polycaprolactone provides superior mechanical and physical properties, including high tensile strength, excellent elasticity, and resistance to oil and chemicals. Polycaprolactone-based TPU has a lower melting point and can be easily processed, making them ideal for a wide range of applications, such as medical devices, automotive parts, and coatings.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1091

"Asia Pacific is expected to be the fastest growing market for TPU during the forecast period, in terms of value and volume."

The markets of the Asia Pacific and South America are registering high growth, and the trend is projected to continue during the forecast period. Emerging economies such as India, China, South Korea, Brazil, and Argentina are investing in various industrial developments that are driving the TPU market. Growth in the European market is hindered due to the environmental regulations imposed on the usage of harmful substances, as TPU contains isocyanates.

New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the TPU market include BASF SE (Germany), Lubrizol Corporation (US), Covestro AG (Germany), Huntsman Corporation (US), Wanhua Industrial Group (China), COIM Group (Italy), American Polyfilm Inc (US), Kuraray Co., Ltd (Japan), and PolyOne Corporation (US).

Browse Adjacent Market: Resins and Polymers Market Research Reports & Consulting

Related Reports:

Thermoplastic Elastomers Market - Global Forecast to 2027

Industrial PU Elastomer Market - Global Forecast to 2026

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/thermoplastic-polyurethane-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/thermoplastic-polyurethanes.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets