Thermoplastic Polyurethane Market Report - Global Forecast till 2030

Thermoplastic Polyurethane Market Research Report Information By Type (Polyester, Polyether, Polycaprolactone), By End Use (Automotive, Construction, Aerospace, Energy & Power, Medical, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“ Market Forecast Till 2030

ID: MRFR/CnM/2369-HCR | 135 Pages | Author: Chitranshi Jaiswal | December 2023         

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Global Thermoplastic Polyurethane Market Overview


The Thermoplastic Polyurethane Market Size was valued at USD 2.76 Billion in 2022. The Thermoplastic Polyurethane industry is projected to grow from USD 3.01 Billion in 2023 to USD 4.71 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.89% during the forecast period (2023 - 2030). A thermoplastic polyurethane (TPU) is a full-fledged thermoplastic elastomer. On the back of its transparency, flexibility, and resistance to grease, oil, and abrasion, thermoplastic polyurethane is widely utilized in the construction, automotive, aerospace, and medical industries for various applications. Additionally, thermoplastic polyurethane is recyclable, biodegradable, and eco-friendly, making it a good substitute for PVC and other polymers. The demand for leather is increasing at a healthy rate due to the population's rapid growth and the continued expansion of numerous economies. The typical leather industry takes up a lot of resources and pollutes the environment. The public's focus on environmental issues presents serious challenges for the leather industry. TPU film is frequently used in footwear and clothing since it has many of the same characteristics as other polymers and rubbers.
Thermoplastic Polyurethane Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Thermoplastic Polyurethane Market Trends




  • Increased Activity in the Automotive Sector




One of the key reasons propelling the growth of the market is the increase in global automotive industry expansion. The substance is extensively used in car parts, including doors, seats, airbags, and vehicle wiring, among others.


Footwear Manufacturers' Adoption


Due to its abrasion resistance, traction, and aesthetic qualities, thermoplastic polyurethane is widely used by shoemakers to make the soles for safety shoes, which hastens the market's expansion. The market has benefited from the rise in demand for TPU in the automotive and medical sectors.


Thermoplastic Polyurethane Market Segment Insights


Thermoplastic Polyurethane Type Insights


The market segmentation, based on Type, includes Polyester, Polyether, and Polycaprolactone. The polyether segment may dominate the market. Polyether TPU films have the lowest specific gravity and are softer to the touch than polyester or polycaprolactone films. These films are often used in a variety of items, including surgical gowns, infusion bags, and blood pressure cuffs. Polyether TPU films provide high UV stability, low-temperature flexibility, body oil resistance, and moisture resistance.


Thermoplastic Polyurethane End-Use Insights


Based on End Use, the global market segmentation includes Automotive, Construction, Aerospace, Energy & Power, Medical, and Others. The automotive segment accounted for the major share of the market. The increasing use of TPU films in automotive components such as instrument panels, levers, and sensors is expected to drive market growth in automotive applications.


Figure 2: Thermoplastic Polyurethane Market, by Type, 2022 & 2030 (USD Billion)
Thermoplastic Polyurethane Market, by Type, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Thermoplastic Polyurethane Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The thermoplastic polyurethane (TPU) films market was led by Asia Pacific. The expanding automotive and railroad infrastructure sectors are expected to drive considerable expansion in the Asia Pacific TPU film market in the upcoming years. Every nation in Asia and the Pacific has a different climate. The region has harsh winters, a lot of rain, and dry seasons, which might damage the paint on the cars.


Figure 3: THERMOPLASTIC POLYURETHANE MARKET SHARE BY REGION 2022 (%)
THERMOPLASTIC POLYURETHANE MARKET SHARE BY REGION 2022
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Thermoplastic Polyurethane Key Market Players & Competitive Insights


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Thermoplastic Polyurethane industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Thermoplastic Polyurethane industry to benefit customers and expand the market sector. Major market players, including The Lubrizol Corporation, American Polyfilm Inc, 3M, Avery Dennison, Bayer Material Science, and others, are attempting to increase market demand by funding R&D initiatives.


Lubrizol Corporation is a global specialty chemical company. Its product segments include engine oils, industrial lubricants, fuel additives, and performance coatings. The company's products are used in various applications, including automotive, marine, aviation, and energy industries. The company's key product segments include engine oils, industrial lubricants, fuel additives, and performance coatings. The company's products are used in various applications, including automotive, marine, aviation, and energy industries.


American Polyfilm Inc is a leading manufacturer of custom-engineered flexible packaging films, serving various industries across the U.S. and internationally. American Polyfilm specializes in producing high-quality films made from materials such as polyethylene, polypropylene, polyester, and nylon. Its products are used in various applications, including food packaging, medical packaging, construction, and industrial packaging. The company's product offerings include a broad range of film products, including custom-made films, co-extruded films, barrier films, and printed films. American Polyfilm's films are designed to meet specific customer requirements, including thickness, strength, flexibility, and durability.


Key Companies in the Thermoplastic Polyurethane market include



  • PAR Group

  • BASF SE

  • The Lubrizol Corporation

  • American Polyfilm Inc

  • 3M

  • Avery Dennison

  • Bayer Material Science

  • Huntsman Corporation

  • KPX Chemical

  • Permali Gloucester Limited


Thermoplastic Polyurethane Industry Developments


August 2022: BASF SE announced the launch of their Thermoplastic Polyurethane Paint Protection Film from RODIM.


September 2021: KPX Chemical announced a strategic joint venture with Huntsman in Korea to provide customized polyurethane systems solutions.


Thermoplastic Polyurethane Market Segmentation


Thermoplastic Polyurethane Type Outlook



  • Polyester

  • Polyether

  • Polycaprolactone


Thermoplastic Polyurethane End-Use Outlook



  • Automotive

  • Construction

  • Aerospace

  • Energy & Power

  • Medical

  • others


Thermoplastic Polyurethane Regional Outlook




  • North America



    • US

    • Canada




  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific



    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 2.76 Billion
Market Size 2023 USD 3.01 Billion
Market Size 2030 USD 4.71 Billion
Compound Annual Growth Rate (CAGR) 6.89% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, End Use, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled PAR Group, BASF, The Lubrizol Corporation, American Polyfilm Inc, 3M, Avery Dennison, Bayer Material Science, Huntsman Corporation, KPX Chemical, Permali Gloucester Limited
Key Market Opportunities Increasing per capita disposable income Rapid urbanization
Key Market Dynamics Its durability, high strength, exceptional fungal and abrasion resistance offered by the product




Frequently Asked Questions (FAQ) :

The Thermoplastic Polyurethane Market size was valued at USD 2.76 Billion in 2022.

The global market is projected to grow at a CAGR of 6.89% during the forecast period, 2023-2030.

Asia Pacific had the largest share of the Thermoplastic Polyurethane Market.

The key players in the market are PAR Group, BASF, The Lubrizol Corporation, American Polyfilm Inc, 3M, Avery Dennison, Bayer Material Science, Huntsman Corporation, KPX Chemical, and Permali Gloucester Limited.

The polyether category dominated the market in 2022.

Automotive had the largest share in the global market for Thermoplastic Polyurethane.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major playersโ€™ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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