Global Thermoplastic Polyurethane Market Expected To Reach US$1.7 Bln By 2018

Global thermoplastic polyurethane market expected to reach US$1.7 bln by 2018

22-Dec-16

Thermoplastic polyurethane (TPU) belongs to a class of elastomers, which are thermoplastic in nature. Due to its transparency, oil resistance, and elasticity, TPU finds application in various industries across the globe. Some of the major application segments of the thermoplastic polyurethane market are paints and coatings, adhesives and sealants, and injection molding. As per Transparency Market Research, the global thermoplastic polyurethane market was valued at US$0.9 bln in 2010 and is expected to reach US$1.7 bln by 2018. The global thermoplastic polyurethane market is expected to expand at a 5.50% CAGR during the period from 2013 to 2018.

Growth of the global cars and footwear markets is expected to propel the global thermoplastic polyurethane market during the period from 2013 to 2018. Development of biobased alternatives and potential demand for thermoplastic polyurethane from the medical industry will create development opportunities for the global thermoplastic polyurethane market during the forecast period. Use of thermoplastic polyurethane in applications such as injection molding, extrusion, and adhesives and sealants is expected to shape the growth trajectory of the global thermoplastic polyurethane market.

The market was dominated by the EMEA region in 2013 and the region is anticipated to sustain its lead until 2018. In terms of revenue, the market in the EMEA region is expected to expand at a 4.90% CAGR by 2018. The Asia Pacific thermoplastic polyurethane market is projected to grow rapidly during the forecast period. Germany leads the thermoplastic polyurethane market in the EMEA region on the basis of revenue. China is the largest market in the Asia Pacific region in terms of volume and is predicted to rise at a 7.80% CAGR during the forecast period.
By end use, the global thermoplastic polyurethane market is divided into automotive, construction, electronics and appliances, and wire and cable. In terms of revenue, the wire and cable segment is projected to expand at a 5.90% CAGR till 2018.
Growing environmental concerns and instability in the prices of raw materials are major restraints that the global thermoplastic polyurethane market will have to face during the forecast period. However, growth of the global automotive market and the global footwear market will fuel the demand for thermoplastic polyurethane, thereby boosting the global thermoplastic polyurethane market.