Thermoplastic Polyurethane (TPU) Market Demand Global Revenue, Top Companies Growth 2028
The global thermoplastic polyurethane (TPU) market size is expected to reach USD 3.81 billion by 2028from USD 2.32 billion in 2021, exhibiting a CAGR of 7.3% between 2021 and 2028. The growing innovations in TPU by OEMs can have an excellent effect on thismarket in the forthcoming years, states Fortune Business Insights, in a report, titled “Thermoplastic Polyurethane (TPU) Market, 2021-2028.”The market size stood at USD 2.34 billion in 2020.
Segmentation-
Polyester-based TPU to Hold the Lion’s Share
Based on type, the market is segmented into polyester, polyether, polycaprolactone, and others. Polyester-based TPU is expected to hold the largest share during the forecast period due to its adoption in applications, which require resistance to oils, fuels, and water.
Report Coverage-
The report consists of cumulative information on the market and relative new advances in the industry. Furthermore, the report consists of knowledge about the regional growth, collaborations, drivers and restraining factors, new product launches, and the overall impact of COVID-19 on the market.
Drivers & Restraints-
Development of Bio-based Polymers to Incite Growth
The usage of thermoplastic polyurethane will be fueled by the growing development of bio-based polymers, in turn, uplifting the TPUmarket growth. Chlorinated plastic can leach hazardous chemicals into the soil, leaking groundwater and other nearby water sources. Humans and animals may suffer serious health consequences as a result of this
Furthermore, countries have established several rules requiring the use of environmentally friendly polymers.
The Report Lists the Key Companies in the Thermoplastic Polyurethane Market:
· BASF SE (Germany)
· Lubrizol Corporation (U.S.)
· Covestro AG (Germany)
· Huntsman Corporation (U.S.)
· COIM Group (Italy)
· American PolyfilmInc (U.S.)
Information Source:
https://www.fortunebusinessinsights.com/thermoplastic-polyurethane-tpu-market-102389