TPU Elastomers Market Incremental Opportunity Assessment through 2019 to 2027
The global thermoplastic polyurethane (TPU) elastomers market surpassed US$ 2.5 billion in 2018, and a new study by FactMR estimates revenues to grow at 5.4% in 2019. According to the study, increasing demand for TPU elastomers in emerging economies of Asia Pacific excluding Japan (APEJ) continues to create sizeable opportunities for manufacturers. APEJ continues to hold over 50% share of TPU elastomers globally.
Analyzing the key factors that are fueling TPU elastomers demand in APEJ, the study reports that strong presence of leading chemical companies along with increasing penetration of small- and medium-scale companies remain key growth drivers. Increasing investments by top-tiered players and rapidly-growing end-user industries continue to attract investments by market leaders, finds the FactMR study.
The TPU elastomers market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.
The TPU elastomers market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing TPU elastomers?
- How does the global TPU elastomers market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global TPU elastomers market?
- Which regions are showing the fastest market growth?
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The FactMR study also assesses the business and product strategies of key players in the TPU elastomers market. Investments and expansion in Asia Pacific continue to be a key focus for stakeholders in the TPU elastomers market. BASF’s investment in Expanded Thermoplastic Polyurethane (E-TPU) Infinergy® at Changhua, Taiwan, and The Lubrizol Corporation’s investment in Songjiang (Shanghai) China plant are indicators of the growing prominence of APEJ among stakeholders.
Environmental Concerns Trigger Manufacturing Innovations
The study finds that although TPU elastomers have been witnessing incremental demand across versatile industrial applications, meeting the evolving sustainability requirements continues to be a challenge for stakeholders. Negative impacts of thermoplastics on the environment have been restricting manufacturers from exploring new niche applications. Thereby, leading stakeholders in the TPU elastomers market have been focusing on innovating their manufacturing strategies and technologies to discover biocompatible and biostable TPU elastomers.
According to the study, the focus on finding sustainable solutions is also driven by stringency in environmental regulations. In many countries of APEJ, environmental regulations have become more stringent over the years, and manufacturers have had to adapt to the changing status-quo.
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In October 2018, Covestro AG – a German stakeholder in the TPU elastomers market – discovered a new carbon dioxide (CO2)-based technology for manufacturing environmentally-friendly TPU elastomers. With growing concerns about ecological fallout, Covestro established partnerships with research institutes and other companies to boost the use of CO2 technology as a synthesis platform for the large-scale production of TPU elastomers. Fact.MR’s study tracks developments in the TPU elastomers market for the assessment period 2019-2027. According to the study, the TPU elastomers market is expected to envisage impressive growth at a CAGR of 5.9% during the assessment period.
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.