Dublin, November 26, 2021--(Business Wire)--ResearchAndMarkets.com has added "Thermoplastic Polyurethane (TPU) Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)" to the products of ResearchAndMarkets.com Report.
The thermoplastic polyurethane market is valued at USD 2.32646 billion in 2020, and is expected to grow at a compound annual growth rate of more than 6.5% by 2026.
Avient (formerly PolyOne)
Suzhou Xinmeishida Technology Co., Ltd.
Wanhua Chemical Group Co., Ltd.
Increased demand for extruded products
Thermoplastic polyurethane has the characteristics of oil resistance, grease resistance, abrasion resistance, etc., and has strong mechanical properties, which makes it of great value in many industrial applications. Like other thermoplastic elastomers, TPU can be melt-processed and has high elasticity. It is transparent and easy to color. Therefore, it is widely used in extrusion product applications.
In addition, TPU can be compounded with a variety of materials using an extrusion process to enhance its properties, such as increasing strength, fuel and oil resistance, and abrasion resistance. Composite TPU is widely used in fields that require excellent structural integrity, such as hoses and pipes (pressure hoses, fire hoses, pneumatic pipes and air pipes), belts (conveyor belts, air cushions and transmission belts), wires (vehicle wiring, computer wiring) And wire and power cable sheath), disposable medical supplies and OA equipment connectors.
These extruded TPU products can be used in many industries, such as electrical and electronic, oil and gas, medical, automotive, etc.
The shrinking of global automobile production and global oil production in 2018-19 has affected the demand for extruded TPU products. Due to the continuing pandemic, the decline of the automobile industry, and the temporary closure of automobile manufacturing units and various industrial activities, the consumption of TPU has decreased. According to OICA, automobile production in 2020 will drop by about 15.8% compared with the same period in 2019, and the total production will reach 77.62 million vehicles, which will have a negative impact on the demand for thermoplastic polyurethanes.
Asia Pacific will dominate the market
The Asia-Pacific region accounts for the largest share of the regional market for thermoplastic polyurethanes. Due to the increasing demand for automobiles and the increasing demand for textiles and footwear, TPU-based adhesives and sealants are expected to achieve healthy growth in the region.
China's shoe industry is the world's largest shoe industry, with a strong network of domestic sales and exports to major countries. As leather shoes account for the largest share of China's footwear industry, compared with other parts of the world, China's demand for TPU adhesives is expected to be the strongest.
With urbanization projects and new construction activities such as bridges, dams, highways, railways (subway), urban infrastructure, buildings, etc., India's construction sector is growing at a higher rate. Foreign direct investment in the construction sector has also reached about 100%. To help the industry develop, it is expected that during the forecast period, as the population increases, the industry will further grow at a higher rate.
At present, there are many airport construction projects in China, or they are in the development or planning stage. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, and Guangzhou Baiyun International Airport. In addition, the government has also launched a large-scale construction plan to transfer 250 million people to new megacities in the next 10 years.
In addition, thermoplastic polyurethane (TPU) is widely used in the automotive industry. Several parts of the car, such as bumpers, internal ceiling parts, doors and windows, use a lot of TPU. India’s US$118 billion auto industry is expected to reach US$300 billion by 2026. According to OICA statistics, India's car production in 2019 was 4.52 million, and in 2020 it will be reduced to 3.39 million, a decrease of about 25%. However, it is expected that by 2021, India will become the world's third largest passenger car market.
In India, the government's investment goal of investing US$120.5 billion to develop 27 industrial clusters is expected to promote the country's commercial construction.
4.1.1 Increased applications in the medical industry
4.1.3 Rising utilization rate of industrial applications
4.2.2 Negative economic impact of COVID-19
4.4 Porter's five forces analysis
6.1 Mergers and acquisitions, joint ventures, cooperation and agreements
6.3 Strategies adopted by leaders
7 Market opportunities and future trends
7.1 Shift to bio-based product development
7.2 Increase R&D activities
For more information about this report, please visit https://www.researchandmarkets.com/r/x5nht9
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