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Market Leader - Thermoplastic Polyurethane Market


New product launches, mergers & acquisitions, agreements & collaborations, and expansions & investments were the key strategies adopted by the industry players to achieve growth in the thermoplastic polyurethane (TPU) market between 2012 and 2016. Increasing industrial advancements, technological advancements, and demand for efficient plastic materials with excellent physical properties, such as high thermal stability, great chemical resistance, increased design flexibility, and high dielectric strength led various end-use industries to focus on thermoplastic polyurethane, thus leading to rise in its demand. Some of the key players, such as BASF Polyurethanes (Germany), The Lubrizol Corporation (U.S.), Covestro AG (Germany), Huntsman Corporation (U.S.), Wanhua Chemical Group Co., Ltd. (China), American Polyfilm Inc. (U.S.), API Plastics (Italy), and Kuraray Co., Ltd. (Japan) have adopted these strategies to develop their businesses, globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the thermoplastic polyurethane (TPU) market between 2012 and 2016.

BASF accounted for the largest share of 19% of the developments that took place in the thermoplastic polyurethane (TPU) market between 2012 and 2016. The company is a market leader in the European region. In October 2016, BASF launched Elastollan grade B50A12CF, which is used for manufacturing ultra-soft synthetic leather. This leather offers high cut resistance and helps manufacturers to meet the stringent Volatile Organic Compound (VOC) standards for varied applications, such as car seats and furniture. The launch of this product has helped the company in expanding its market share in automotive application.

Covestro AG is a subsidiary of Bayer AG. It is named after erstwhile business segment of Bayer AG, that is, Bayer Material Science. The company serves industries, such as construction, sports & leisure, automotive, electrical, furniture, wood processing, and electronics. Covestro AG operates through four business segments, namely, polyurethane, polycarbonates, other segments, and coatings, adhesives, and specialties. Covestro AG has been increasing its global reach by using both, organic as well as inorganic growth strategies. The company developed new thermoplastic polyurethane (TPU) for medical applications. In November 2013, the company along with its subsidiary Epurex, launched Bayfol UX502 and Platilon to expand thermoplastic polyurethane (TPU) offering of the company for the medical industry.

Related Reports:

Thermoplastic Polyurethane Market by Type (Polyester, Polyether, and Polycaprolactone), End-Use Industry (Automotive, Footwear, Engineering, Building & Construction, Wires & Cables, Hose & Tubing, and Medical), and Region - Global Forecast to 2021

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