Industry Insights
Global thermoplastic polyurethane films market is expected to register significant growth on account of increasing application in automotive industry. After-sales/replacement has been a major segment for TPU demand in automotive application. High elasticity, shear strength, grease resistance and low temperature performance of TPU make it an idyllic material for automotive applications compared to other conventional thermoplastics. Growth of major end-use industries such as building & construction and transportation, mainly in Asia Pacific is expected to yield growth opportunities for the market over the forecast period. Growing preference for TPU films in medical devices is expected to complement the market growth over the forecast period.
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TPU films market is bound by stringent regulations from EPA, REACH and OSHA, which have made produce registration mandatory for manufacturers in the market. Rising concerns regarding the use of petrochemical raw materials which have adverse environmental effects may restrain the market growth. Development of bio-based TPU is expected to provide companies operating in the market with opportunities over the next six years. Companies such as PolyOne, Arkema, DuPont, BASF and Lubrizol are already involved in the production of bio-based TPU compounds. Companies in the market are focused on improving production technologies and developing new additives to improve product specifications and quality. Volatility in spot prices of propylene and aniline, raw materials used to manufacture TPU, is expected to impact profitability of market participants.
Application Insights
Growing market penetration of TPU films in automotive industry is expected to drive the market growth. TPU films are widely used to manufacture...