TPU Elastomers Market Is On Course to Grow At A CAGR Of 5.9% during the Forecast Period 2019-2027
The “TPU Elastomers Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019-2027” is a comprehensive report published by Fact.MR that investigates the prominent growth parameters of TPU elastomers market. The report features the information acquired on assessing information and facts about TPU elastomers market through an extensive market research.
This is Fact.MR’s latest report on TPU elastomers market that unveils the unique facts about the market explained in terms of quantitative and qualitative information. The market report contains the detailed explanation on growth of the TPU elastomers market and its market dynamics to justify the claims made by analysts in the Fact.MR study.
The market intelligence report on the TPU elastomers market offers information in the most comprehensible manner for the reader to get complete clarity of how the market is growing. With the help of growth indicators, such as compound annual growth rate (CAGR), supply chain analysis, Y-o-Y growth, and value chain analysis, the report provides information on future growth prospects of the TPU elastomers market.
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TPU Elastomers Market – Key Insights
- Thermoplastic Polyurethane (TPU) elastomers market grew at a healthy CAGR of 4.7% between 2013 and 2018, on account of growing demand from automotive industry.
- In 2019, demand for TPU elastomers is likely to remain high, with demand supported by the construction and footwear industries. The global TPU elastomers market is estimated to reach US$ 2.7 billion by the end of the year.
- The TPU elastomers market is on course to grow at a CAGR of 5.9% during the forecast period 2019-2027.
- Though the top 5 players in the TPU elastomers market have a strong presence in the Americas and Europe, the Asia Pacific region excluding Japan (APEJ) is the leading market for TPU elastomers. Growing demand for TPU elastomers in a wide range of applications has boosted growth of the TPU elastomers industry in the APEJ region.
- On the back of increasing investments by leading stakeholders, the APEJ region is likely to remain a high growth market for TPU elastomers throughout the forecast period.
- High-performance mechanical properties of TPU elastomers, such as high tensile strength and resistance to chemicals and oil, are widening the range of their applications, in turn, boosting growth of the TPU elastomers industry.
- Growing applications in the automotive industry, medical devices, and the footwear industry will continue to trigger developments in the TPU elastomers industry.
- Ongoing innovations in the automotive industry, especially the focus on replacing metals with plastics is creating opportunities for market players.
What is a Key Challenge for Market Players?
- The environmental impacts of TPU elastomers are more severe than other variants, which has led to limited adoption in many countries. Leading market players are focusing on reducing the environmental footprint of manufacturing TPU elastomers to meet the evolving regulatory climate.
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TPU Elastomers Market – Competitive Landscape
- In January 2019, Lubrizol International, Inc. – a U.S.-based specialty chemical company – announced that it has acquired the TPU business from The Dow Chemical Company, one of the leading chemical companies based in the U.S. The company declared that the acquisition is mainly aimed at leveraging Dow’s strong TPU brand recognition in the U.S. to expand its global footprint and consolidate a strong position in the TPU elastomers market. The acquisition also could help Lubrizol to diversify its product portfolio at provide access to new industrial end-uses, such as medical devices, for its TPU elastomers business.
- In November 2018, Wanhua Chemical Group Co. Ltd – a leading supplier of TPU elastomers – launched its new TPU adhesive and polyether TPU products suitable for equipment used in the firefighting industry. The company announced that the fast crystallization rate and excellent heat resistance of the company’s new TPU adhesives, and hydrolytic stability and good environmental adaptability of polyether TPU products for fire hose liner can improve the quality of various fire-fighting equipment significantly.
- In October 2018, Covestro AG – a German stakeholder in the TPU elastomers market – announced that it has developed new TPU elastomer products, under the name cardyon, based on carbon dioxide (CO2) technology. The new series of TPU products contains polyether carbonate polyols and has a high tensile strength 36 megapascals. The company announced that its new TPU products leave a lower carbon footprint as compared to their conventional counterparts and can be used in various industrial applications, including textiles, footwear, and petrochemical industrial applications.
- In May 2018, Huntsman Corporation – an American multinational manufacturer of specialty chemicals – it will soon invest in a new polyurethanes systems house in Dubai. The company announced that the new facility will strengthen the company’s position in the TPU elastomers market in the Middle East. This will also enable the company to capitalize on increasing applications of TPU elastomers in the fast-growing footwear markets.
Other leading players in the TPU elastomers market include BASF SE, Miracll Chemical Co. Ltd., Kuraray Co. Ltd., Ravago Petrokimya Üretim A.S, COIM SPA, Coating Chemical Industry Company, Zibo Hengjiu Pu Technology Company Ltd., Huafon Group, Xuchuan Chemical Group, Evermore Chemical Industry Company Ltd., Sunko Ink Co. Ltd., Songwon Industrial Group, DuPont Tate & Lyle Bio Products, Blackwell Plastics LLP, Hexpol AB, Mitsui Chemicals, Inc., Lanxess Aktiengesellschaft,Honeywell International, Inc., PolyOne Corp., Tosoh Corporation, Nihon Matai Co. Ltd., APS Elastomers, and Townsend Chemicals Pty. Ltd.
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Fact.MR, in its new report, offers an unbiased Market Analysis of Thermoplastic Polyurethane Elastomers, Sales and Demand of Thermoplastic Polyurethane Elastomers, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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