Thermoplastic polyurethane (TPU) films are finding extensive usage in varied applications such as footwear, automotive, sports and outdoor goods due to their properties like high elasticity, abrasion resistance and moisture resistance. TPU films are used in footwear as a lightweight and durable alternative to leather material. The global TPU films market demand is driven by the need for flexible, durable and moisture proof films in footwear industry.
The global Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 543.97 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing popularity of athletic and casual footwear is boosting the demand for TPU films in footwear industry. According to various market reports, the global footwear market value reached approximately US$ 224 Bn in 2021 and is projected to grow at a healthy rate during forecast period. TPU films are highly preferred material in manufacturing footwear owing to properties like flexibility and resilience. The demand growth in footwear industry is thus fueling the consumption of TPU films around the world. This emerging trend is expected to persist over the coming years and accelerate the expansion of global TPU films market.
Segment Analysis
The global Thermoplastic Polyurethane (TPU) Films Market Size is dominated by the films with thickness ranging from up to 25 microns. These thin TPU films segment captures around 70% of market share owing to their widespread applications in various end-use industries including hygiene products packaging, medical devices, graphic arts films, etc. Thin TPU films provide properties like elasticity, clarity, resistance to microbes and oil which make them suitable for various applications where breathability and durability is required.
Key Takeaways
The global thermoplastic polyurethane (TPU) films market is expected to witness high growth over the forecast period of 2024-2031. The global Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 543.97 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific region held the largest market share in the global TPU films market in 2024 and is expected to remain the fastest growing regional market during the forecast period. The market growth in the region can be attributed to high sales of consumer durables and automotive components where TPU films are extensively used. Countries like China, India, South Korea and Japan contribute significantly to the regional market share owing to presence of large automotive and electronics manufacturing base.
Key players: Key players operating in the thermoplastic polyurethane (TPU) films market are Honomobo Corporation, ATCO Ltd., Tempohousing, SG Blocks, Inc., Giant Containers Inc., Skanska AB, Speed House Group of Companies, Supertech Industries, Bechtel Corporation, Lendlease Corporation. Honomobo Corporation is one of the leading manufacturers of TPU films offering comprehensive product portfolio for varied applications. ATCO Ltd. specializes in manufacturing TPU films coated with different materials like polyester, urethane and acrylic to suit diverse end-use requirements.
Explore more related article on this topic: https://www.newsanalyticspro.com/growth-is-driving-the-thermoplastic-polyurethane-tpu-films-market/
https://blogger-veritas.blogspot.com/2024/01/the-global-ventricular-assist-devices.html
Comments
0 comment