APAC Tops the Global Thermoplastic Polyurethane Market | Technavio

LONDON–(BUSINESS WIRE)–#Plastics–The latest market research report by Technavio
on the global
thermoplastic polyurethane (TPU) market predicts a CAGR of more than
6% during the period 2017-2021.

The report segments the global thermoplastic polyurethane market by
product (polyester, polyether, and polycaprolactone), by end-user
(footwear, engineering, automotive, and construction), and by geography
(APAC, Europe, North America, and ROW). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global thermoplastic polyurethane
market, according to Technavio chemicals
and materials researchers:

• Advances in TPU grade used in medical industry: a major market driver
• In 2016, the polyester segment dominated the market by occupying
  almost 50% share
• APAC dominated the global thermoplastic polyurethane market with
  around 33% share in 2016
• BASF, Covestro, Huntsman International, PolyOne, and Wanhua Chemical
  Group are some of the players in the market

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Advances in TPU grade used in medical industry: a major market driver

Advances in TPU grade used in medical industry is one of the major
factors driving the global thermoplastic
polyurethane market. The medical plastics compounder and processor
Biomerics has launched its Quadrathane family of polycarbonate-based TPU
for the medical device market, particularly to be used in implantable
devices. This new product family is available in aliphatic and aromatic
formulations. The Quadrathane aliphatic polycarbonate grades are
non-yellowing and can be used in applications where softening and
bio-durability are required such as hemodialysis, drainage, vascular
access, and pacemaker leads.

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APAC: largest thermoplastic polyurethane market

The TPU market in APAC is witnessing high growth because of the
continuous rise in the production of end-products for internal use and
exports. The key drivers for this regional market are the growing
middle-class population, growing industrialization, and rise in the
manufacturing sector of the region. APAC was the largest regional market
in 2016 and it is expected to project the highest growth rate during the
forecast period. Increasing production and the expansion of existing
facilities by producers in China and India is expected to foster market
growth in the next few years.

According to Ajay Adikhari, a lead analyst at Technavio for research on
plastics,
polymers, and elastomers, “The high economic growth rate, the
increase in the number of manufacturing industries, the increase in
foreign investments, the availability of cheap labor, and the rise in
the use of TPU across various industries and applications are the few
major factors that are likely to propel the growth of the TPU market in
APAC.”

Competitive vendor landscape

The players in the global
TPU market compete based on technology, trait leadership, price,
quality, and cost. The market consists of several global and regional
players. It is highly competitive and is dominated by large-scale
vendors such as BASF, Covestro, Huntsman International, PolyOne, and
Wanhua Chemical Group. These players have a vast geographical presence
with numerous production facilities. There are also a substantial number
of small regional vendors with a considerable amount of market share.

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thermoplastic polyurethane market report free of cost

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