Thermoplastic Polyurethane Films Market to clock in US$516.9 Mn by 2024; Soaring Demand for Lightweight Cars to Empower Global Market - TMR

ALBANY, New York, December 12, 2018 /PRNewswire/ --

The global thermoplastic polyurethane films market is to witness steady growth in the coming years, according to a Transparency Market Research (TMR) report. The market features intense fragmentation in its vendor landscape, with a few established players holding substantial market shares. The presence of well-seasoned vendors in the global thermoplastic polyurethane films market is likely to act as a barrier for new entrants. The high initial investments required are expected to further impede the entrance of small and new players.

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However, in order to gain momentum in the market, operating vendors are expected to adopt various organic and inorganic growth strategies. A prominent trend observed by TMR is the formation of strategic alliances and partnerships. Vendors are also involved in acquisition of regional players to expand their geographical presence.

Leading vendors in the global thermoplastic polyurethane films market are The Lubrizol Corporation, Tosoh Corporation, Covestro AG, Polyol Macromolecule Polymer (Fujian) Co., Ltd, and BASF SE.

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Thermoplastic Polyurethane Films to Reach US$515.9 Mn by 2024 

According to TMR's analysts, the global thermoplastic polyurethane films market is likely to rise at a 6.8% CAGR over the forecast period 2016 to 2024. The market was worth US$286.8 mn in 2016, and is expected to clock in US$516.9 mn by 2024.

Among the product types, polyester TPU was the leading segment in 2015 in terms of value. In terms of volume, the segment accounted for US$212.8 mn.  

Geographically, Asia Pacific market for thermoplastic polyurethane is expected to exhibit highest growth potential over the coming year. The region is expected to rise at a 6.0% CAGR over the forecast period.

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Demand from Industrial Fabrics to Amplify Growth  

TPU films in combined with materials are utilized to make different mechanical textures, which is utilized in the construction business. Soaring GDP, urbanization, and quick industrialization have brought about expanded spending on framework by rising economies, for example, China and India among others. Expanding construction pending over the area is another factor boosting request.