The TPU thin film market is expected to reach $750 million by 2023 FROM Rainbow TPU

Date:Sep 22, 2019

The global synthetic (thermoplastic polyurethane) TPU film market size exceeded 47,000 tons in 2015, and the compound growth rate is likely to exceed 5% by 2023.The TPU film market could exceed $750 million by then.Automotive applications dominated, accounting for 24% of total demand in 2013.Aviation is likely to be a new growth area, with a compound annual growth rate expected to exceed 6.5 percent by 2023.

The asia-pacific region was the leading region, accounting for 34 percent of total demand in 2013.TPU thin film markets in China and India are the mainstream consumers, accounting for more than 60 percent of 2015 demand in the asia-pacific region.The European and north American markets grew steadily, accounting for 19% and 27% respectively in 2015.Japan's TPU film market is expected to reach 3,500 tons in 2015.

In order to improve energy efficiency and reduce carbon emissions, the automotive industry is increasingly using lightweight materials, which is expected to drive the growth of the TPU film market.They can be used in auto parts production to help reduce body weight (about 40%).It can also replace the rubber parts of the car.Used in automotive applications such as doors and sound absorbers, instruments and shock absorbers, seats and airbags.Replacement or aftermarket is expected to become a new focus of TPU film demand in the automotive industry.

Consumers are extremely price sensitive these days, and prices play an important role in the market.TPU thin film market price trend in Europe, North America and the asia-pacific region, compared to 25% to 35% higher.Rising construction in emerging economies in the asia-pacific region is starting to drive demand.Construction spending in the asia-pacific region accounted for 40 per cent of global income expenditure in 2012.

More and more extensive application of solar energy and wind power is expected to promote the thermoplastic polyurethane film market.The film provides surface protection for windmill blades and solar panels.Growth in the airline industry, combined with technological progress, is also likely to boost demand.They are involved in aerospace applications such as seat cushions, handrail surfaces, wire and cable sheaths, face masks and interior panels.

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