Thermoplastic Polyurethane Market Report - Global Forecast till 2030

Thermoplastic Polyurethane Market: Information by Type (Polyester, Polyether and Polycaprolactone), End-Use Industry (Automotive, Construction, Aerospace, Energy & Power, Medical and others), Region (North America, Europe, Asia Pacific, Latin America and the Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/2369-HCR | February 2021 | Region: Global | 135 pages

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Thermoplastic Polyurethane Market Overview

TheThermoplastic Polyurethane Market trends are likely to propel at a great market rate during the ongoing forecast period of 2021-2028. During the historic forecast period that ended in 2019, the global market operations were valued at a global figure worth USD 3.5 billion. For the ongoing forecast period, the market is expected to attain a global CAGR of 7.1% and hence, reach a market value worth USD 3.5 billion by the end of the forecast period in 2028.

COVID 19 Analysis

The thermoplastic polyurethane market size has been one of the market sizes that is facing the atrocities that have been evolving and emerging since the pandemic made an entry in the lives of the common man by late 2019 and 2020. The market players have been facing various market issues as the global governments are focusing on implementing measures that will help and play a positive role in curbing the obnoxious spread of the novel coronavirus but will have negative impacts on the demand and supply chain mechanism that will bring losses for the market as anticipated by the trends. Also, the rising changes and preferences of the global target audience that is exposed to the market operations are hampering the growth and expansion ability of the market during the forecast period of 2021-2028. Further, market investments are on an all-time low owing to market speculations regarding the rising inability to produce and maintain a proper function of the economies of scale.

Hence, both the market players and public authorities are understanding the requirements of both the market and target audience to resume the operations and return to normalcy. By keeping the situation in mind, the global governments are removing the restrictions that will help in maintaining the demand and supply and further, help the production units function as per the thermoplastic polyurethane market trends. Also, the rising market investments are likely to help the market players focus on the research and development departments that will enhance the market portfolios and provide the target audience with innovative and creative options to choose from.

Market Dynamics


Over a short time, the major factor that enjoys the tag of being responsible for the enhancement in the thermoplastic polyurethane market revenue by the end of the forecast period ending in 2028 is the increased use of the market services and products in an array of end-users. The medical industry is emerging as the largest seeker for innovative and creatively developed market products and services. Also, the major market attraction that is driving the market towards impeccable growth during the period that will end in 2028 is that the market products are environment-friendly and recyclable.


On the flip and negative side for the thermoplastic polyurethane market size, the market trends and emerging waves show that there has been a decline in the degree of automotive products onis the global scale during the forecast period that ends in 2028. Also, the initial arrival of the pandemic resulted in a hard time for the global market operations during the first three quarters of the base year of the market report that is 2020. This is likely to hinder the predicted growth of the market.

Technology Analysis

The thermoplastic polyurethane market trends for the ongoing forecast period of 2021-2028 are portraying a gradual shift in the focus towards the development of bio-based products which promises great attributes to the market in terms of growth, expansion, and revenue expansion for the period that will be ending in 2028. Also, there has been an increase in the degree of research and development activities. Prominent players of the market like Fiat Chrysler, Hyundai, Maruti Suzuki, Mahindra and Mahindra, Renault, and Toyota, amongst others. Many participating regions are planning to give expansion opportunities to the regional markets to propel and hence, the domestic manufacturing industries are opting for the development of market products through their manufacturing units. Hence, this will gradually result in a reduced dependency on imports that will help the regional market dwell and compete in the international market.

Study Objectives

  • The thermoplastic polyurethane market report helps the market investors and product buyers to understand the basis of the market functioning followed by the trends that will enhance the productivity of the manufacturing units to meet the rising needs of the target audience during the period. The report provides qualitative market insights to make better investment decisions.

  • The report further aims to help the market players understand the market dynamics in the form of drivers that will help in market expansion and the restraints that might challenge the market from growing in the forecast period of 2021-2028. The report further discusses the basis of the global market segmentation that is spread in various regions and catering to the rising needs of a larger target audience.

  • The global market report further, helps in discussing the distribution of the raw materials and resources in various global locations which will help in enhancing or reducing the efficiency and performance of the prominent market players in both the domestic and the international market. The market report discusses the recent developments undertaken by the market and further, draws a competitive market graph amongst the target audience and players.

Segment Overview

The rising thermoplastic polyurethane market trends are a result of an impeccable performance by the market segments. The global market segments are as follows:

Based on the raw materials

The market players use an array of raw materials that will help in developing products as per the market demand. The raw material segment includes diols, polyols, and diisocyanate.

Based on the type

The type segment of the market includes polyester, polycaprolactone, and polyether.

Based on the market end-use industry

The end-user industries of the market are inclusive of the medical fraternity, consumer goods, footwear, industrial machinery, automotive, electronics, building and construction, and others like textiles.

Regional Analysis

Based on the thermoplastic polyurethane market segmentation based on the global regions, there are 5 major participating regions. The APAC region is expected to dominate the global market trends for the forecast period that will be ending in 2028. There has been a considerable rise in population followed by a major growth in the end-use industries that require large-scale innovation and development that will help the market dominate the growth figures. Various industry consolidations are on the way along with the rising demand for the TPU market products that will promise great growth quantum during the period.

Competitive Landscape

The participating players of the market during the forecast period are as follows:

  • Lubrizol Corporation (US)

  • Kuraray Co., Ltd (Japan)

  • COIM Group (Italy)

  • American Polyfilm Inc (US)

  • Covestro AG (Germany)

  • Huntsman Corporation (US)

  • Wanhua Industrial Group (China)

Recent Developments

  • The market researchers have witnessed a substantial rise in the degree of innovations in the extrusion processes that are expected to drive a major demand for the global market segments. In 2020, Novatec developed a new extrusion technology that is inclusive of a new downstream system that is helpful for inline cutting and curing TPU medical tubes. This technology promises great results in the form of a reduced post-extrusion shrinkage that is likely to occur in the TPU tubes developed under the market’s umbrella.

  • The Indian and Indonesian governments, as a part of the APAC region, are likely to increase their investment quantum that will help the domestic players enhance their functioning in the international market. The investment target of USD 120.5 billion for conducting developments in 27 industrial clusters is expected to ring in great opportunities for commercial construction in the Indian subcontinent.

  • In Indonesia, the home government is having sittings and sessions that help in planning to invest around a figure of USD 450 billion in the construction sector in 2021, which happens to be the beginning year of the forecast period following the year in which the pandemic hit. The residential construction market and trends are expected to soar high in this region during the forecast period that will be ending in 2028.

Report Overview

The thermoplastic polyurethane market report discusses the rising market trends during the forecast period of 2021-2028 by keeping the pandemic year of 2020 as the base year followed by considering the effects of the pandemic on the market operations. The report covers crucial market aspects like the basis of the global market segmentation and the potential of the segments and market players to grow in both the domestic and the international market. The report covers the major market happenings in the form of collaborations, joint ventures, investments, and much more.

Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 3.5 Billion
  • 2030: Significant value
  •   CAGR   6.5%(2019–2027)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, End-Use Industry and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   BASF SE (Germany), Huntsman International LLC (US), Amco Polymers (US), Covestro AG (Germany), The Lubrizol Corporation (US), 3M (US), Permali Gloucester Limited (UK), Wanhua Chemical Group Co., Ltd. (China), American Polyfilm Inc. (US), Hexpol AB (Sweden), PolyOne Corporation (US), API Plastics (Italy), and Kuraray Co., Ltd. (Japan)
      Key Market Opportunities   The robust growth of automotive industry driven by increasing per capita disposable income, rapid urbanization, and economic growth across the globe
      Key Market Drivers   Its durability, high strength, exceptional fungal and abrasion resistance offered by the product.

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    Frequently Asked Questions (FAQ) :

    The market is likely to attain a global CAGR of 7.1% during the forecast period.

    The APAC region is showing signs of domination amongst the other participating regions.

    The market has been segmented based on the type, raw materials, and end-use industries.