The Thermoplastic Polyurethane Firm Market Size was valued at USD 367.8 Million in 2023. The thermoplastic polyurethane firm industry is projected to grow from USD 361.7 Million in 2024 to USD 643.3 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2024 - 2032).
Thermoplastic polyurethane firm is known as TPU. the thermoplastic polyurethane films market products are known to have unique properties which a find wide application in a series of end-products such as coatings, textile, adhesive, and barrier films. TPU is being recognized as biodegradable and is gaining momentum because of its environment-friendly nature. This feature makes it a suitable application for medical devices and it is used as an alternative to PVC, as well.
Gerdau Graphene will launch its "first" graphene-enhanced PE additive masterbatch for extruded packaging and other applications in 2023. In addition, the company has teamed with Japanese giant Sumitomo Corp. to distribute its graphene-enhanced masterbatches.
The thermoplastic polyurethane films market size has been one of the market estimates that is confronting the outrages that have been advancing and arising since the pandemic made a section in the existences of the average person by late 2019 and 2020. The market players have been confronting different market issues as the worldwide legislatures are zeroing in on executing estimates that will help and assume a positive part in controlling the disagreeable spread of the novel Covid however will adversely affect the interest and store network system that will bring misfortunes for the market as expected by the patterns. The outbreak of the pandemic has caused a series of troubles and is questioning the kind of healthcare facility that is being rendered to the people by the global governments and leaders. Further, market ventures are on a record-breaking low attributable to showcase hypotheses in regards to the rising failure to deliver and keep an appropriate capacity of the economies of scale.
Consequently, both the market players and public specialists are understanding the prerequisites of both the market and ideal interest group to continue the tasks and return to predictability. By understanding the propelling circumstance, the worldwide states are eliminating the limitations that will help in keeping up with the interest and supply and further, help the creation units work according to the thermoplastic polyurethane films market patterns. Likewise, the rising business sector speculations are probably going to help the market players center around the innovative work divisions that will upgrade the market portfolios and furnish the interest group with imaginative and inventive choices to browse.
The prominent players of the thermoplastic polyurethane films market value are:
Covestro (Germany)
Permali Gloucester Limited (England)
Huntsman Corporation (US)
DuPont (US)
3M (US)
BASF SE (Germany)
TPU is being used in the aerospace industry for its application in seating components alongside helping in window glass lamination. The components used in the manufacturing of aircraft require the use of advanced engineering materials. Thus, TPU has a major role to play in conducting the manufacturing process of lightweight aircraft components. The rising thermoplastic polyurethane films market value helps to reduce weight, and further, enhance the performance of the aircraft. There has been an increase in the manufacturing of aircraft that is expected to boost the growth of the global thermoplastic polyurethane films market.
However, the rising prices of the raw materials for production followed by the availability of cheap alternates are likely to hamper the predicted growth for the thermoplastic polyurethane films market for the ongoing forecast period that will be ending in 2030.
The rising market investments and the availability of funds are giving rise to the technological advancements and employment for conducting the research and development activities that will help the market with opportunities and a reliable product portfolio for expansion during the forecast period.
The thermoplastic polyurethane films market report helps the market financial backers and item purchasers to comprehend the premise of the market working pursued by the directions that will improve the usefulness of the assembling units to meet the rising requirements of the interest group during the period. The report gives subjective market bits of knowledge to settle on better speculation choices.
The report further plans to help the market players comprehend the market elements as drivers that will help in market development and the limitations that may challenge the market from filling in the forecast period of 2021-2028. The report further examines the premise of the worldwide market division that is spread in different areas and takes into account the rising requirements of a bigger interest group.
The worldwide market report further, helps in examining the conveyance of the unrefined components and assets in different worldwide areas which will help in improving or decreasing the productivity and execution of the unmistakable market players in both the homegrown and the global market. The market report examines the new improvements attempted by the market and further, draws a cutthroat market chart among the ideal interest group and players.
The thermoplastic polyurethane films market size is witnessing expansion of the market during the forecast period of 2022-2030 owing to the rising potential of the segments in meeting the rising needs of the target audience. The segments are as follows:
The global market is segmented into polyester, polyether, and polycaprolactone. The polyester segment is emerging as the fastest-growing segment owing to rising application use in the aerospace industry.
The application segment is segmented based on applications and includes automotive, aerospace, energy, construction, amongst others. The aerospace segment of the market is predicted to dominate the global thermoplastic polyurethane films market by attaining over a 25.3% market share.
The thermoplastic polyurethane films market trends show that the market is witnessing the emerging demand in 5 mushrooming regions across the globe. Out of these regions, the aerospace industry leads the North American thermoplastic polyurethane films market because of the increasing application of thermoplastic polyurethane films. This is also surging the demand for several other market products and services. Also, there has been an increasing application of TPU in the construction industry that is likely to favor market growth during the forecast period.
The Asia-Pacific thermoplastic polyurethane films market is likely to grow at a phenomenal pace because of an increased and expanded demand for lightweight materials and films across a series of electric vehicles. The countries belonging to the APAC region such as China, India, Japan, Thailand, Malaysia, and South Korea are contributing to the development of a major share in revenue generation. The rise in the development of construction activities and the high demand for energy in the industrial sector are key factors driving the regional growth in the North American region.
October 2021- Covestro, a leading German firm, revealed the development of its Desmopan 7000 thermoplastic polyurethane (TPU) to meet the growing demand for materials that assist and guarantee superior transmission rates for 5G signals, a technology that, in comparison with earlier 4G standard, allows more stable connections, lower power consumption, shorter data runtimes (latency), and higher network speeds. Overall, Desmopan 7000 projects high transparency for 5G frequencies, lowering signal losses, and makes it very compatible for 5G applications, such as protective covers for cell phones.
June 2021 – A prominent worldwide player in application-specific fluid power and power transmission solutions, Gates, revealed the launch of two latest thermoplastic polyurethane (TPU) belts. The products will be named the Gates Parabolic Pitch (GPP) and will be available in two different formats; 8mm and 14mm. The latest GPP belts offer more durability, strength, safety, and are quieter to function and need low maintenance than other alternatives, including other steel cables, roller chains, and rubber belts.Developed to excel in the competition, the high-strength, reinforced steel (RSL) GPP 14-RSL has the maximum break strength of any 14mm pitch TPU belt in the market, and the usual product versions are well-matched with Timken's RPP® sprockets. At present, these GPP belts are available in EMEA and North American regions.
In July 2018, Covestro, a prominent and leading supplier of polycarbonate and thermoplastic polyurethane films took to the international scale and announced that it was on the way to strengthening its film production capacity during the ongoing forecast period that will be ending in 2028. A strategic investment worth a market value of USD 112.16 million has been initiated to meet the growing demand of the global target audience for thermoplastic polyurethane (TPU) films. This will help in expanding the market size amongst the other competitive players in both the domestic and the international market scale during the ongoing forecast period.
The prominent market players in the European region are working to enhance fuel efficiency and reduce carbon dioxide emission is surging the demand for thermoplastic polyurethane films market share. The presence of a large number of automotive manufacturers in European countries like Germany, the UK, France, Spain, and Italy is expected to drive the demand for the thermoplastic polyurethane films market in the automotive industry during the forecast period that will be ending in 2028.
The manufacturing of aircraft in Canada, as a part of the North American region, for the growing Thermoplastic Polyurethane films market share has been noticed to have increased from 18,783,235 in 2017 to 19,742,834 in 2018, as a part of the historic forecast period that had ended in 2019. These market numbers are reflecting that the aerospace industry is projected to witness exponential and wide-scale growth in the upcoming years to follow, as a part of the ongoing forecast period that will be ending in 2028, which is expected to fuel the demand for the TPU market.
Report Overview
The thermoplastic polyurethane films market report covers the important market aspects and their functioning after the coronavirus pandemic hit the international market. The report aims to conduct a deep market study to understand the factors that will lead the market towards during the ongoing forecast period that will be ending in 2028.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 367.8 Million |
| Market Size 2024 | USD 361.7 Million |
| Market Size 2032 | USD 643.3 Million |
| Compound Annual Growth Rate (CAGR) | 6.10% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types and application |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Covestro (Germany), Huntsman Corporation (US), 3M (US), BASF SE (Germany), The Lubrizol Corporation (US), DuPont (US), Permali Gloucester Limited (England), ADDEV Materials (France), American Polyfilm, Inc (US), and DSM (Netherlands) |
| Key Market Opportunities | The advancing research & development of product in the market has propelled to witness a significant growth. |
| Key Market Dynamics | The rise in construction activitiesHigh demand for energy in the industrial sector |
Thermoplastic Polyurethane Films Market Highlights:
Frequently Asked Questions (FAQ) :
The market is expected to reach a final value worth USD 643.3 million by 2032.
The North American market will dominate the global market growth.
The APAC region is showing signs of reliable growth during the period.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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