The expanding universe of Thermoplastic Elastomers (TPEs) includes several classes of materials whose common character is close replication of the elastic properties of natural rubbers combined with the easy processability of thermoplastics. TPE families are based on styrenics, polyolefins, polyesters, polyurethanes, thermoplastic vulcanizates (TPVs) and other materials. Polyurethane Elastomers can be processed on extrusion as well as injection, blow and compression molding equipment’s. The market regarding this is seeing a huge boom lately and is expected to grow well in the coming years.
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Brief Outlook of the Market:
As a whole, the Polyurethane Market is expected to cross $73 Billion by 2020. The global market is projected to reach 9.5 million tons by the year 2015 driven by active demand from construction, furniture and automotive markets. Thermosetting elastomers and thermoplastic elastomers are the two types of the PU elastomers of which thermosetting hold the largest market share of around 75%. Apart from its outstanding toughness, durability and processing ease Polyurethane Elastomer is a versatile performer that bridges the gap between rubber and plastics.
Over one-third of the global application of PU elastomers is the production of footwear followed by the furniture and interiors and the automotive industry. The global PU market demand is expected to reach 22,060 kilo tons by 2020 and with a growing CAGR of 5% from 2014-2020. Automotive applications are expected to be the most demand causing segment of Polyurethane elastomers growing at a CAGR of 5.5% from 2014-2020. The demand for PU elastomers in electronic appliances is expected to grow at a CAGR of 8% till 2020.
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Regional Analysis:
Around 95% of the Global Polyurethane Elastomers Market is accounted by Europe, APAC and the U.S....