Synthetic And Bio Thermoplastic Polyurethane (TPU) Films Market Size and Growth Forecasts, 2024

The increasing usage of synthetic and bio thermoplastic films in the automotive industry is expected to drive the market over the forecast period. The growth of end-application industries such as rai

 Thermoplastic polyurethane belongs to the class of polyurethane plastics. The increasing usage of synthetic and bio thermoplastic films in the automotive industry is expected to drive the market over the forecast period. The after sales and replacement market has been a high consumer of synthetic and bio thermoplastic polyurethane films. The growth of end-application industries such as railway, aerospace, and construction is expected to augment global synthetic and bio thermoplastic polyurethane films market demand.

The use of synthetic and bio thermoplastic polyurethane films for medical purposes can aid in market growth. Strict environment regulations concerning the use of hazardous raw chemicals can hamper the growth of synthetic thermoplastic polyurethane films. Industry participants in this market are compulsorily expected toobtain registration from REACH, EPA, and OSHA. New product development is aimed at the development of additives that can enhance product specifications. The use of bio-based thermoplastic polyurethane films as an alternative is driving the demand for this product segment. The volatile prices of raw materials such as aniline and propylene that are used in the manufacturing of synthetic thermoplastic polyurethane films can favor the growth of bio-based alternatives.

Synthetic and bio thermoplastic polyurethane films find their application in railways, medical, leisure & sports, energy, automotive, building & construction, aerospace, and furniture. Increasing demand for lightweight materials in the automotive applications to reduce carbon emission and increase fuel efficiency is likely to drive synthetic and bio thermoplastic polyurethane films market. The growth in infrastructure and construction industry is expected to have a positive impact on market growth. Synthetic and bio thermoplastic polyurethane films can also be used as protective films on the wind and solar panels. Increased innovation in the aviation sector has been favoring the usage of synthetic and bio thermoplastic polyurethane films in aircraft design.

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AsiaPacific is the key market for synthetic and bio thermoplastic polyurethane films. Growing infrastructure and automotive industries in the emerging countries of China and India favor the market growth in this region. AsiaPacific is followed by North America in dominance concerning regional markets. The demand in North America can be represented by the growth in end application segments of construction, automotive, and energy applications. The growing usage of synthetic and bio thermoplastic polyurethane films in leisure and sports industries is expected to augment global demand for this product. The recession in Europe is a major hindrance to market growth in this region.

The key manufacturers of synthetic and bio thermoplastic polyurethane films are Huntsman Corporation, 3M Company, PAR Group, BASF, Nippon Polyurethane, MH&W Corp., Avery Dennison, Permali Gloucester, Bayer Material Science, and American Polyfilm, Inc. The industry is highly disintegrated due to the presence of domestic suppliers and manufacturers in the regional markets, especially China.

Bayer Material Science and Reverdia entered into a jointagreement to manufacture and promote synthetic and bio thermoplastic polyurethane films manufactured from renewable feedstock. This strategy helped the companies to make a foray into the Taiwan market and enhanceits regional presence. Huntsman Corp. acquired EMA Kimya Sistemleri Sanayi ve Ticaret A.S.,Turkey, to cater to the Middle East market. Huntsman Corporation manufactures synthetic and bio thermoplastic polyurethane films under the brand names Irogran, Irostic, Irodur, PristineFlex, Krystalgram, Avalon, and Smartlite.

The various grades of synthetic and bio thermoplastic polyurethane films manufactured by PAR Group are TPU90, TPU85MD, TPU82AS, TPU85, TPU95B, TPU95T, TPU93, and TPU800. The various synthetic and bio thermoplastic polyurethane films manufactured by 3M company are 3M9948, 3M2475, and 3M2475P. Synthetic and bio thermoplastic polyurethane films manufactured by MH&W Corp are sold under the brand name Kerafol and Chang Sung. Avery Dennison majorly caters to the leisure and sports industry. Permali Gloucester manufactures synthetic and bio thermoplastic polyurethane films under the brand name, Tuftane. American Polyfilms manufactures synthetic and bio thermoplastic polyurethane films for applications such as medical, automotive, packaging, and sportswear.

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