A recent report from Transparency Market Research (TMR) states that the global market for thermoplasticPolyurethane Catalyst (TPU) films is dominated by a few large and mature players. TPU film brands dominate the market and dominate high-level competition. The market has been able to keep new entrants in the Gulf due to the capital-intensive production process and the situation is expected to remain the same in the coming years. Key vendors will expand geographically and add new technologies and products to their portfolio by forging partnerships through M&A and mergers with promising players in key regions.
Transparency Market Research estimates that the global TPU film market will grow at an average annual compound growth rate of 6.8% from 2016 to 2024, and the estimated valuation will increase from 2015 to 2015. It increased from 28.68 billion yuan in 2024 to 51.69 billion yuan in 2024.
In terms of product varieties, this report studies polyester TPU, polycaprolactone TPU, and polyether TPU. Among them, the polyester TPU field occupied the largest share of the global TPU film market in 2015, accounting for the largest share of global market revenue and value. During the forecast period of the report, the polycaprolactone TPU segment is expected to expand at the most promising rate with a CAGR of approximately 7%. From a geographical perspective, the European TPU market is currently the major contributor to global market revenue due to high demand from the mature automotive industry. The market in the Asia-Pacific region is the fastest growing as the growth in automobile production in the region is extremely promising.
Significant growth in production and consumption in emerging economies such as India, Brazil, China, Russia and South Africa is one of the key factors that is expected to boost TPU film’s overall intake over the next few years. The steady rise in the GDP of these countries has encouraged the growth of production units across multiple industries, which is expected to strengthen over time due to incentives from government regulations and strong demand for products in the domestic market. For important consumers of TPU films, the automotive industry also anticipates this trend to be correct. Aiming to reduce the overall weight of vehicles to make them more fuel-efficient and have better long-term performance, a number of initiatives have been implemented to enable car manufacturers to replace metal parts with suitable alternatives such as TPU film. Although polyurethane-catalyzed TPU films are already widely used in automotive parts such as seat fillers and interior door panels, their overall availability is expected to be hindered due to the increased availability of alternatives.
