Polyester TPU is the most important product in the global TPU film market in 2015, and its value will total US$212.8 by 2024. On the other hand, polyacetolactone TPU is estimated to exhibit strong demand growth and revenue during the forecast period. Part of the plan will be to expand annual compound revenue growth rate of 7%.
In terms of value, the automotive industry invested a huge market share in the global TPU film market in 2015, although the aviation industry is likely to launch the TPU film market by 2024. The Asia-Pacific region will be an attractive market in the coming years. The demand for TPU films in this field reached 18,200 tons in 2015, and the compound annual growth rate is expected to be 6.0% in 2024.
Automobile sales growth plans to increase demand for its TPU film in emerging economic markets from 2016 to 2024. Emerging economies such as the BRIC countries (Brazil, Russia, India, China and South Africa) are expected to witness rapid growth in their GDP in the coming years, and various manufacturing industry activities are also expected to grow in the coming years. This also applies to the major TPU film end customers in the automotive industry.
TPU films are used in the automotive industry to reduce the weight and components of automotive parts to improve overall performance and efficiency. These films are used in the engineering and design of automotive components such as interior door panels, seat padding, and thermal insulation.
On the contrary, the rising prices of raw materials and the emergence of more and more substitutes are the most significant reasons that hinder the growth of some TPU film markets.
The global thermoplastic polyurethane film market is characterized by its large size, accounting for more than half of the market. Major manufacturers in the thermoplastic polyurethane film market include BASF, Covestro, Lubrizol, Huntsman Corporation, Tosoh, Wanhua Chemical Group Co., Ltd., Huafeng Group Co., Ltd., Shanghai Lianjing Polyurethane Industry Co., Ltd., Polyol High Molecular Polymer (Fujian) Co., Ltd.
Transparent Market Research found that polyurethane films have expanded their production of TPU and raw materials. It is estimated that market competition will intensify during the forecast period. Natural capital-intensive markets and globally established TPU film brands are likely to cause huge obstacles to new consumer groups.
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