The impact of the COVID-19 outbreak has forced several manufacturers and industries to reconsider their operations to gradually recover from losses they will incur over the next few years. The organic chemical industry suffered major setbacks due to production cessation and restrictions on the supply of raw materials.
This report provides actionable and valuable market insights for TPU Elastomers. The latest report from Fact.MR provides details on the current market scenario in various regions along with historical data and forecasts of the market. The report also includes information on sales and demand for the TPU Elastomers market across various industries and regions.
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TPU Elastomer Market – Key Insights
- The Thermoplastic Polyurethane (TPU) Elastomers market grew at a healthy CAGR of 4.7% between 2013 and 2018 owing to increasing demand from the automotive industry.
- Demand for TPU elastomers in 2019 is expected to remain high, supported by the construction and footwear industries. The global TPU elastomer market is estimated to reach $2.7 billion by the end of the year.
- The TPU Elastomers market will grow at a CAGR of 5.9% during the forecast period 2019-2027.
- Although the top five players in the TPU elastomer market have strong positions in the Americas and Europe, Asia Pacific, excluding Japan (APEJ), is the main market for TPU elastomers. The growing demand for TPU elastomers in various applications has fueled the growth of the TPU elastomer industry in the APEJ region.
- Driven by increased investment from key stakeholders, the APEJ region is likely to remain a high-growth market for TPU elastomers during the forecast period.
Market research conducted by Fact.MR provides exclusive information on how the market will grow. The study identifies important trends determining the growth of the TPU elastomer market. This newly published report sheds light on important dynamics such as drivers, restraints and opportunities for key market players and emerging players involved in production and supply. The latest report from Fact.MR provides a detailed market analysis of TPU elastomers.
This newly published insightful report sheds light on the market insights of TPU elastomers, key dynamics, their impact on the entire value chain from suppliers to end users, and the growth of the TPU elastomers market .
The global TPU elastomer market crossed $2.5 billion in 2018 and is projected to grow 5.4% in revenue in 2019, according to a new study by Fact.MR. According to this study, the growing demand for TPU elastomers (APEJ) in emerging economies in Asia Pacific excluding Japan continues to create significant opportunities for manufacturers. APEJ continues to hold over 50% share of TPU elastomers worldwide.
Analyzing the key factors driving demand for TPU elastomers in APEJ, the study reports that the strong presence of leading chemical companies and increased penetration of SMEs remain the major growth drivers. Fact.MR research shows that increasing investment by top players and the fast-growing end-user industry continue to attract investment from market leaders.
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The Fact.MR study also evaluates the business and product strategies of key players in the TPU Elastomers market. Investments and expansions in the Asia Pacific region continue to be a key focus for stakeholders in the TPU elastomers market. BASF’s investment in E-TPU Infinergy® in Changhua, Taiwan and Lubrizol Corporation’s investment in its Songjiang (Shanghai) Chinese plant are indicators of the growing importance of APEJs among stakeholders.
Environmental issues drive manufacturing innovation.
This study found that while TPU elastomers are witnessing increasing demand in a variety of industrial applications, meeting evolving sustainability requirements continues to be a challenge for stakeholders. The negative impact of thermoplastics on the environment is limiting manufacturers from exploring new niche applications.
Therefore, the key stakeholders in the TPU elastomers market have been focused on innovating their manufacturing strategies and technologies to discover biocompatible and biostable TPU elastomers. Research shows that the focus on finding sustainable solutions is also due to the stringency of environmental regulations. In many countries in the APEJ, environmental regulations have become more stringent over the years and manufacturers have had to adapt to changing phenomena.
Some notable examples are:
- In March 2019, Lubrizol International, Inc. announced the launch of a new toluene-free Pearlbond™ TPU for films and adhesives to expand its high melt strength Pearlbond TPU portfolio. Toluene exposure can have dangerous effects not only on the environment but also on human health. The company announced that the new Pearlbond TPU is toluene-free and recyclable, making it environmentally friendly and can be used in a variety of applications such as furniture, footwear, automotive film and clothing.
- In February 2019, the Italian chemical company API Applicazioni Plastiche Industriali SPA announced the launch of a new recyclable TPU APILONTM52 A/C series. The company has declared that its new portfolio of TPU elastomer products will significantly reduce energy consumption and production costs, while reducing production cycle times by around 70%.
- In October 2018, Covestro AG, a German stakeholder in the TPU elastomer market, discovered a new carbon dioxide (CO2) based technology for manufacturing eco-friendly TPU elastomers. As concerns about ecological fallout grow, Covestro has partnered with research institutions and other companies to promote the use of CO2 technology as a synthetic platform for the large-scale production of TPU elastomers.
Fact.MR’s study tracks the development of the TPU Elastomers Market during the assessment period 2019-2027. According to this study, the TPU elastomer market is expected to grow impressively at a CAGR of 5.9% during the evaluation period.
Full access to this exclusive report is available at https://www.factmr.com/checkout/3445 . Key Questions Answered in TPU Elastomer Market Report Survey:
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A more valuable insight into the TPU elastomer market
Fact.MR provides an unbiased market analysis of TPU Elastomers, Sales and Demand for TPU Elastomers by analyzing forecast statistics for 2019 and beyond in a new report. This study presents growth prospects based on various criteria.
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