Sarasota, FL, April 07, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Thermoplastic Polyurethane Market by Injection Molding, Extrusion, Adhesives & Sealants and Paints & Coatings Applications for Automotive, Construction, Engineering, Footwear, Hose & Tube, Medical and Wire & Cable End-Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022” . According to the report, the global thermoplastic polyurethane market accounted for USD 1.93 Billion in 2016 and is expected to reach USD 2.84 Billion by 2022, growing at a CAGR of around 6.7% between 2017 and 2022.
Thermoplastic polyurethane market is a rapidly growing industry with demand from various regions of the world owing to its wide range of applications in various end-user industries. Polyurethanes are one of the most adaptable plastic materials owing to its properties such as elasticity, transparency, and resistance to oil, grease, and abrasion.
Browse through 23 Market Tables and 29 Figures spread through 110 Pages and in-depth TOC on “Global Thermoplastic Polyurethane Market: Industry Size, Share and Forecast 2016 – 2022”.
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The global thermoplastic polyurethane (TPU) market is expected to witness significant growth owing to increasing demand from the automotive sector. In addition, thermoplastic polyurethanes applications in medical are also expected to boost the growth of the TPU market in the coming years. However, the growing environmental concerns with the manufacture and usage of thermoplastic polyurethanes are expected to curb the growth of the global thermoplastic polyurethane market. Furthermore, instability in the prices of raw materials could also hinder the growth of the thermoplastic polyurethane market. The development of bio-based alternatives is expected to create more opportunities in the thermoplastic polyurethanes market in the coming years.
The global thermoplastic polyurethane market can be segmented based on their applications and end-users. Based on their applications, they are segmented into injection molding, extrusion, adhesives & sealants, and paints & coatings. On the basis of end-users, the global thermoplastic polyurethanes market is further segmented into automotive, construction, engineering, footwear, hose & tube, medical and wire & cable. Among the application segments, the extrusion segment dominated the market in 2016 and is expected to witness significant growth within the forecast period. Injection molding and sealants & adhesives accounted for the second and third largest share respectively of the global thermoplastic polyurethanes market in 2016.
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The automotive segment accounted for the largest market share among the end-users in 2016 and is expected to witness significant growth owing to the development and growth of the automotive industry across the globe. Key market players in the industry have been investing in research & development to explore more applications of thermoplastic polyurethanes. Footwear segment is also expected to grow at a significant pace owing to the adoption of TPU’s in footwear by the leading market players.
North America thermoplastic polyurethane market is expected to witness moderate growth within the forecast period. Growth in this region can be attributed to the large construction industry in the region; especially in U.S. Applications in the medical sector is also expected to aid the growth of the thermoplastic polyurethane market in the coming years. High GDPs and disposable income are also expected to contribute positively towards the growth of the thermoplastic polyurethane market in North America.
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Europe antimicrobial coatings market is expected to witness significant gains within the forecast period. Demand from the automotive sector is expected to be the major driver of the thermoplastic polyurethanes market in the region. The remodeling activities in the region are also expected to boost the demand for thermoplastic polyurethanes in Europe. In addition, adoption of thermoplastic polyurethanes in footwear is also expected to aid the growth of the market in Europe.
Asia-Pacific accounted for the largest market share of the global thermoplastic polyurethane market in 2016. This can be attributed to the rising demand from the emerging economies in the region. Rising construction and remodeling activities in the region are also expected to propel the growth of the thermoplastic polyurethanes market within the forecast period. Asia Pacific is also expected to be the fastest-growing region owing to the high demand and cost-effectiveness. This has driven the global players to establish their facilities in the Asia Pacific region. The large population and rising GDP’s & disposable incomes in the region are also expected to aid the growth of thermoplastic polyurethane market in Asia Pacific. The growing medical tourism in India is also expected to augment the demand from the healthcare sector.
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Latin America is expected to witness moderate growth within the forecast period. The demand for thermoplastic polyurethanes from the automotive sector is expected to be the major driver for the market in Latin America. Rising GDP’s and construction activities are also expected to boost the demand for thermoplastic polyurethanes in the coming years.
The Middle East and Africa is expected to witness decent growth for thermoplastic polyurethane market within the forecast period. The rising construction and infrastructure redevelopment activities in the region are expected to drive the demand for anti-microbial coatings in the region.
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The key players operating in the global thermoplastic polyurethane market are API Plastics, BASF SE, Bayer Material Science Ag, COIM, Headway Polyurethane Co. Ltd., Hexpol AB, Huntsman Corporation, Lubrizol Corporation, Miracll Chemical Co. Ltd., Polyone Corporation, Taiwan Sheen Soon and Wanhua Chemical Group Co. Ltd. among others.
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This report segments the global thermoplastic polyurethane market as follows:
Global Thermoplastic Polyurethane Market: Application Segment Analysis
- Injection Molding
- Extrusion
- Adhesives & Sealants
- Paints & Coatings
Global Thermoplastic Polyurethane Market: End-User Segment Analysis
- Automotive
- Construction
- Engineering
- Footwear
- Hose & Tube
- Medical
- Wire & Cable
Global Thermoplastic Polyurethane Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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