Thermoplastic Polyurethane (TPU) Market Share and Global
Analysis by Forecast to 2028
The global thermoplastic
polyurethane (TPU) market size is expected to reach USD 3.81 billion by
2028from USD 2.32 billion in 2021, exhibiting a CAGR of 7.3% between 2021 and
2028. The growing innovations in TPU by OEMs can have an excellent effect on
thismarket in the forthcoming years, states Fortune Business Insights, in a
report, titled
“Thermoplastic Polyurethane (TPU) Market, 2021-2028.”The market size stood at USD 2.34
billion in 2020.
Segmentation-
Polyester-based
TPU to Hold the Lion’s Share
Based
on type, the market is segmented into polyester, polyether, polycaprolactone,
and others. Polyester-based TPU is expected to hold the largest share during
the forecast period due to its adoption in applications, which require resistance
to oils, fuels, and water.
Report Coverage-
The report consists of cumulative information on the market and
relative new advances in the industry. Furthermore, the report consists of
knowledge about the regional growth, collaborations, drivers and restraining
factors, new product launches, and the overall impact of COVID-19 on the
market.
Drivers & Restraints-
Development
of Bio-based Polymers to Incite Growth
The usage of thermoplastic
polyurethane will be fueled by the growing development of bio-based polymers,
in turn, uplifting the TPUmarket growth.
Chlorinated plastic can leach
hazardous chemicals into the soil, leaking groundwater and other nearby water
sources. Humans and animals may suffer serious health consequences as a result
of this
Furthermore, countries have
established several rules requiring the use of environmentally friendly
polymers.
The Report Lists the Key Companies in the Thermoplastic
Polyurethane Market:
·
BASF SE (Germany)
·
Lubrizol Corporation (U.S.)
·
Covestro AG (Germany)
·
Huntsman Corporation (U.S.)
·
COIM Group (Italy)
·
American PolyfilmInc (U.S.)
Information
Source:
https://www.fortunebusinessinsights.com/thermoplastic-polyurethane-tpu-market-102389
