Synthetic Thermoplastic Polyurethane Films Market expected to grow strongly by 2023
The Synthetic Thermoplastic Polyurethane Films Market Research Report Forecast 2018-2024 is a valuable source of insightful data for business strategists. It provides the Synthetic Thermoplastic Polyurethane Films industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis.
Global synthetic (Thermoplastic polyurethane) TPU films market size was estimated at over 47 kilo tons in 2015 and is likely to grow with a CAGR of more than 5% up to 2023. TPU film market revenue is likely to be valued at more than USD 750 million by 2023.
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They are used for automobile applications such as door & acoustic panels, Instrument & anti-vibration panels, seats and airbags. Replacement or after sales market are expected to become an important focal point for TPU films demand in automobile industry. Pricing plays an important role in the market with consumers being price sensitive. TPU films market price trend is relatively higher by 25% to 35% in Europe and North America in comparison to prices in Asia Pacific.
Growing construction spending in emerging economies of Asia Pacific is likely to drive demand. Asia Pacific dominated the construction spending and accounted for 40% of the global revenue spending in 2012. Volatile polyols and MDI price, due to fluctuation in propylene & aniline prices are likely to affect industry profitability. Also, stringent environmental regulations against use of hazardous raw materials are likely to pose challenge to industry participants. Companies are investing to develop the bio-based TPU films market which are likely to offset volatile pricing derived from crude oil and would also help in reducing carbon footprints. Companies such as Arkema, DuPont, PolyOne and Merquinsa have set sights bio TPU film market development.
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Global TPU films market share is fragmented with top four companies catering to over 40% of the total demand in 2013. Presence of large number of domestic manufactures & suppliers mainly in China is responsible for high fragmented market.
Key companies involved in this market include Covestro, PAR Group, Huntsman, MH & W International and 3M Company. Other prominent manufactures include Avery Dennison, Nippon Polyurethane, BASF, Lubrizol and Permali Gloucester.
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