Global Thermoplastic Polyurethane Market is anticipated to grow considerably in the forecast period. A distinctive class of plastic is produced when polyaddition happens between a diisocyanate and one or more diols. This plastic is referred to as “Thermoplastic Polyurethane”. They have many useful properties such as resistance to oil, elasticity, grease and abrasion, etc. The factors that propel the growth of the market include its substitution with conventional materials in end user industry, improved abrasion resistance, growing populace, and increasing buying power of individuals.

On the other hand, there are factors that may hamper the development of the market including rising environmental concerns with the production and usage of thermoplastic polyurethanes. Thermoplastic Polyurethane Market is anticipated to grow at a significant CAGR of 7.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The market may be explored by type, application, and geography. The market may be explored by type as Polyester, Polycaprolactone, and Polyether. The “Polyester” sector led the market in 2016 and is anticipated to maintain its dominance by 2020 owing to suitability of polyester in a number of applications in numerous end-use industries, such as engineering, automotive, and construction & building among others.

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The key applications that could be explored in the Thermoplastic Polyurethane Market include Footwear, Automotive, Engineering, Wires & Cables, Building & Construction, Medical, and Hose & Tubing. The “Footwear” sector led the market in 2016 and is anticipated to maintain its dominance by 2020. Footwear segment is followed by Wires and Cables.

Asia-Pacific accounted for the major share of the Thermoplastic Polyurethane Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes growing demand for thermoplastic polyurethane from developing countries, such as China and India. China is the major market for thermoplastic polyurethanes in the Asia-Pacific region.

Some of the key players that fuel the growth of the Thermoplastic Polyurethane Market comprise BASF SE, API Plastics, Bayer Material Science AG, Wanhua Chemical Group Co. Ltd, Hexpol AB, COIM, Headway Polyurethane Co. Ltd., Huntsman Corporation, Miracll Chemical Co. Ltd., Lubrizol Corporation, and others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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May 10, 2019: The global thermoplastic polyurethane market size is expected to display higher growth rate in next five years. The thermoplastic polyurethane market is subject to witness a substantial growth due to the growing demand for lightweight & durable materials in various end-user applications. Some of these applications include interior design industry, building & construction industry, electronics & electrical sector, automobile industry, and footwear & packaging industry.

The thermoplastic polyurethane are increasingly used for production cushion foams, internal components, and various light weighted automotive parts. These factors are expected to drive the growth of thermoplastic polyurethane market. Globally, the thermoplastic polyurethane market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest in research and development for the thermoplastic polyurethane market.

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Seat frames that are manufactured with the help of thermoplastic polyurethane are light in weight in comparison with other types of metal stamped frames. The recent technological advancement coupled with development of the novel products such as matrix resins and metal composites consisting of glass-fiber reinforced leaf springs are expected to fuel market growth in the upcoming years. Factors such as introduction of highly efficient and insulated foams and increasing demand for green buildings & other sustainable infrastructure projects are predicted to favor market growth over the forecast period.

Implementation in green buildings & other sustainable infrastructure projects are lowering energy costs in both developed & developing economies across the globe, thereby propelling market expansion in the recent years. Advent of various green building tools like LEED certification and the NAHB guidelines are offering necessary product innovation that matches environmental building standards.

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The highly concentrated & oligopolistic nature of the thermoplastic polyurethane market has led to development of the products innovation, thereby driving market growth in the last few years. Introduction of low cost solution and implementation of aggressive marketing strategies by leading industry participants are expected to boost market growth in the upcoming years. In addition, large number of prominent industry players are entering into strategic alliances with local manufactures to gain competitive advantage over their counterparts, thus fostering market growth, in the recent years. Increasing demand form North American and European region for thermoplastic polyurethane are anticipated to boost the growth of thermoplastic polyurethane market in the upcoming years.

However, stringent laws and regulation by local governments in regards to environmental hazards coupled with volatile in cost of raw material are estimated to restrain market progress to a certain extent. Additionally, constantly changing prices of toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI), which vital for production of thermoplastic polyurethane are negatively affecting market growth. Variation in the cost of toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI) is credited to create fluctuation in their precursor markets, involving petrochemicals such as benzene.

The thermoplastic polyurethane market is broadly categorized into four major segments based on product type such as rigid & flexible foams, coatings, adhesives & sealants, and elastomers. The elastomers is considered as one of the fastest growing segment in the thermoplastic polyurethane market with substantial revenue generation in the last couple of years. The rigid & flexible foam segment has also witnessed massive growth, in the recent years, owing to their inherent properties such as high flexibility impact & shock resistance.

The thermoplastic polyurethane market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in polyurethane market, favorable government laws & regulations and existence of well-established infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the thermoplastic polyurethane market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with easy accessibility of skilled workforce, availability of raw materials in abundance, strong economic growth and significant investment by leading industry players considering the potential growth opportunities in region.

The key players in the thermoplastic polyurethane market are BASF Co., The Dow Chemical Co., Covestro AG, Huntsman Co., Mitsui Chemicals Inc., Eastman Chemical Co., Nippon Polyurethane Industry Co., Woodbridge Foam Co., Lubrizol Co., Rampf Holding GmbH & Co., DIC Co., and RTP Company, Inc.

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February 27, 2019: The global thermoplastic polyurethane market size is expected to display higher growth rate in next five years. The thermoplastic polyurethane market is subject to witness a substantial growth due to the growing demand for lightweight & durable materials in various end-user applications. Some of these applications include interior design industry, building & construction industry, electronics & electrical sector, automobile industry, and footwear & packaging industry.

The thermoplastic polyurethane are increasingly used for production cushion foams, internal components, and various light weighted automotive parts. These factors are expected to drive the growth of thermoplastic polyurethane market. Globally, the thermoplastic polyurethane market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest in research and development for the thermoplastic polyurethane market.

Download sample Copy of This Report at: https://www.radiantinsights.com/research/global-thermoplastic-polyurethane-market-outlook-2017-2022/request-sample

Seat frames that are manufactured with the help of thermoplastic polyurethane are light in weight in comparison with other types of metal stamped frames. The recent technological advancement coupled with development of the novel products such as matrix resins and metal composites consisting of glass-fiber reinforced leaf springs are expected to fuel market growth in the upcoming years. Factors such as introduction of highly efficient and insulated foams and increasing demand for green buildings & other sustainable infrastructure projects are predicted to favor market growth over the forecast period.

Implementation in green buildings & other sustainable infrastructure projects are lowering energy costs in both developed & developing economies across the globe, thereby propelling market expansion in the recent years. Advent of various green building tools like LEED certification and the NAHB guidelines are offering necessary product innovation that matches environmental building standards.

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The highly concentrated & oligopolistic nature of the thermoplastic polyurethane market has led to development of the products innovation, thereby driving market growth in the last few years. Introduction of low cost solution and implementation of aggressive marketing strategies by leading industry participants are expected to boost market growth in the upcoming years. In addition, large number of prominent industry players are entering into strategic alliances with local manufactures to gain competitive advantage over their counterparts, thus fostering market growth, in the recent years. Increasing demand form North American and European region for thermoplastic polyurethane are anticipated to boost the growth of thermoplastic polyurethane market in the upcoming years.

However, stringent laws and regulation by local governments in regards to environmental hazards coupled with volatile in cost of raw material are estimated to restrain market progress to a certain extent. Additionally, constantly changing prices of toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI), which vital for production of thermoplastic polyurethane are negatively affecting market growth. Variation in the cost of toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI) is credited to create fluctuation in their precursor markets, involving petrochemicals such as benzene.

The thermoplastic polyurethane market is broadly categorized into four major segments based on product type such as rigid & flexible foams, coatings, adhesives & sealants, and elastomers. The elastomers is considered as one of the fastest growing segment in the thermoplastic polyurethane market with substantial revenue generation in the last couple of years. The rigid & flexible foam segment has also witnessed massive growth, in the recent years, owing to their inherent properties such as high flexibility impact & shock resistance.

The thermoplastic polyurethane market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in polyurethane market, favorable government laws & regulations and existence of well-established infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the thermoplastic polyurethane market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with easy accessibility of skilled workforce, availability of raw materials in abundance, strong economic growth and significant investment by leading industry players considering the potential growth opportunities in region.

The key players in the thermoplastic polyurethane market are BASF Co., The Dow Chemical Co., Covestro AG, Huntsman Co., Mitsui Chemicals Inc., Eastman Chemical Co., Nippon Polyurethane Industry Co., Woodbridge Foam Co., Lubrizol Co., Rampf Holding GmbH & Co., DIC Co., and RTP Company, Inc.

About Radiant Insights

Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

For More Information, Visit Radiant Insights

Contact:
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com    
Blog URL: http://chemicalsmarketforecasts.wordpress.com