The market for TPU Films is expected to register a CAGR of over 5% during the forecast period. The major factor driving the growth of the market is the increasing demand from the building and construction industry. On the flip-side, the sudden outbreak of the COVID-19 is expected to impact the growth of the market during the coming years.
-Polyester type TPU films are expected to dominate the market owing to its key properties, including improved UV stability, good low-temperature performance, high elasticity, high recovery, and rubber-like feel.
-The Asia-Pacific region is expected to be the largest market for the TPU films market.
Key Market Trends
High Demand for Polyester Segment to Drive the TPU Films Market
- Polyester chemical class is the widely used type of TPU film for extrusion and injection molding applications. Polyester TPU films are manufactured with the use of methylene diphenyl isocyanate and polyol esters as key raw materials.
- Key highlights of polyester type TPU films are plasticizer-free, improved UV stability, excellent wear performance, good low-temperature performance, high elasticity, high recovery, and rubber-like feel, which makes it suitable for various applications.
- These types of films are used in the textile sector for lamination and in fabrics used in the most demanding outdoor and severe-weather performance apparel.
- In 2019, the value of the global home textile market was estimated to be nearly USD 100 billion and is anticipated to rise to USD 133.4 billion by 2025.
- All the aforementioned factors are expected to drive the TPU Films market during the forecast period.
Asia-Pacific to Dominate TPU Films Market
- The Asia-Pacific region holds a prominent share in the TPU film market globally and is expected to dominate the market during the period of forecast.
- Asia-Pacific has the largest construction market, which is led by India, China, and various Southeast Asian countries.
- The total revenue of the footwear market from the Asia-Pacific region is estimated to be USD 139.18 billion in 2019 and is projected to register a CAGR of 4.9% during the forecast timeline.
- The Indian textile industry is predicted to reach a market size of USD 223 billion by 2023 due to government policies by adding 17 million under this initiative.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.
The market for TPU films is consolidated. Some of the players in the market include Huntsman International LLC, The Lubrizol Corporation, PAR Group, Covestro AG, and SWM.
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