HOME Research Insight New Revenue Pockets in Thermoplastic Polyurethane Market

New Revenue Pockets in Thermoplastic Polyurethane Market

TPU is a fast growing engineering plastic. The major applications of TPU are industrial applications, coatings, and adhesives. TPU are formed by the reaction of diisocyanates with short chain diols (chain extenders) and diisocyanates with the long chain diols. The most common production process is by reactive processing, also known as reactive extrusion, the polymer formed is cooled in water and granulated. Second process provides for feeding the two components into a flat and large container where they are reacted, curing the reacted product and subsequently chop it to pieces and extrude the pieces into granules. The market demand for TPU is growing significantly due to the demand from end-user industries such as automotive, engineering, footwear and medical.

Currently, the demand for TPU is driven by its increasing applications in automotive industry that requires lightweight components and also the scope of improvement in the footwear industry. The reduction in weight assures fuel economy and better distances in case of electric cars. TPU is specifically preferred to manufacture dash boards, cup holder, bumpers, door handles and bellows. The increasing applications of TPU in automobile components are expected to impact the TPU market in the near future. The use of TPU in footwear ensures lightweight, better reflexivity, and high breathability of the material.

Medical industry seems to play a crucial role in the global TPU market owing to its high growth rate across all the geographies. TPU are preferred as a replacement of PVC due to its properties and negligible hazardous effects as compared to that of PVC. Other end use segment that seems promising in the near future is the engineering applications, which is currently the second largest end use segment of TPU.

Asia-Pacific leads in the consumption of TPU which followed by Western Europe. Engineering applications share a large consumption both in the North American and Western European region. The consumption of medical grade TPU is expected to increase at very significant rate across all the regions and is slowly penetrating into the Asia-Pacific market. The growth of fast developing countries in the Asia-Pacific assures investment and increase in consumption of TPU. Also, increasing purchasing power in developing countries and need for high performance products may add to the high demand in the future.

Related Reports:

Thermoplastic Polyurethane Market by End-Industry (Automotive, Building & Construction, Engineering, Footwear, Hose & Tube, Medical, and Wire & Cable) & Geography - Trends & Forecasts to 2018

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