The competitive landscape of the thermoplastic polyurethane films market ismoderately consolidated with few players accounting for more than 60% of marketshare, says Transparency Market Research(TMR). Some of the prominent playersoperating in the thermoplastic polyurethane films market are BASF Co., HuntsmanCo., The Dow Chemical Co., Mitsui Chemicals Inc., Nippon Polyurethane IndustryCo., Eastman Chemical Co., and Woodbridge Foam Co.
These players are focusing towards several activities such asacquisitions and mergers, business expansion and collaboration in order toconcretise their foothold in the market. The competition could highly intensifyin future with increase in the number of players in the market. Most playersare pouring extensive investments in the market to push innovations anddevelopments.
According to Transparency Market Research (TMR), the globalthermoplastics polyurethane market is expected to rise at a steady 6.8% CAGRduring the forecast period. Rising at this CAGR, the global thermoplasticpolyurethane films market is expected to surpass the valuation US$516.9 mn by2024. The market was observed at a valuation of US$286.8 mn in2015.
On the basis of region, North America is expected to hold maximum sharein the thermoplastics polyurethane market during the forecast period. This ismainly due to the rising implementation of latest technologies in polyurethanemanufacturing in the region. Apart from this, favourable government laws ®ulations and existence of well-established infrastructure are some otherfactors expected to boost the region’s growth. Among several product types, therigid & flexible foam segment is projected to witness massive growth,thanks to the inherent properties of the segment such as high flexibilityimpact & shock resistance.
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Significant Rise in Industrialization to Drive theThermoplastic Polyurethane Films Market
The thermoplastic polyurethane films market is expected to rise at asignificant pace in the coming few years, thanks to the increasing demands fromthe end user industries. Thermoplastic polyurethane (TPU) can be definedmodified form of elastomer and it is known for their fully thermoplasticproperties. In addition to this, they can be processed to improve theirproperties and with the help of several extrusions as well as injection, blowand compression moulding equipment.
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Properties of thermoplastic polyurethane such as chemical, puncture,abrasion, waterproofness, high resilience, and cool temperature resistance makethem ideal for various industrial applications. This is expected to increasethe demands for the thermoplastic polyurethane film market in the coming fewyears.
Along with this, several factors such as growing industrialization,urbanization and rise in world economy are some of the other factors expectedto drive the global thermoplastic polyurethane films market.
However, despite several drivers and opportunities, growth in the marketis likely to suffer because of the stringent governmental policies regardingthe use of polymer due to their adverse impact on the market. Along with,presence of other cheaper substitutes such as elastomers is another factorexpected to impede growth in the thermoplastics polyurethane market.
Nevertheless, increasing use of thermoplastics polyurethane in theautomotive application is expected to fuel the thermoplastic polyurethane filmmarket during the forecast period.
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Flourishing Construction Industry toBoost Thermoplastic Polyurethane Films Market
One of the primary application of thermoplastics polyurethane is in theconstruction industry. The industry is projected to rise at an impressive rateon the back of increasing in urbanization projects and new constructionactivities. This is another prominent factor expected to propel thedemand of thermoplastics polyurethane in the coming few years.
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