Overview:
The global market for Thermoplastic Polyurethane Films Market sze is slated to witness steady growth by a decent CAGR during the forecast period of 2019 to 2025. In the process, the market will surpass a valuation of USD 554.1 million by 2025. Market Research Future (MRFR) published a report recently where it also discussed potential factors that can trigger the market growth.
The market is expected to benefit from its bio-friendly nature. The product is biodegradable, which will help in easy permeation across industries. In the automotive, aerospace, electrical electronics, and other sectors, this market is witnessing substantial progress.
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Segmentation:
The global market report on the thermoplastic polyurethane film market has been segmented into type and application. These segments are loaded with various data that have been backed by charts, graphs, and other important studies on factors. This will help in planning the next steps to increase the profit margin.
By type, the global study on the thermoplastic polyurethane films market includes polyether, polyester, and polycaprolactone. The polyester segment is witnessing a steep rise in intake of it in the aerospace industry, which will ensure its position in the market. It will also outpace other segments in terms of growth during the forecast period.
By application, the study on the thermoplastic polyurethane films market has been segmented into aerospace, construction, energy, automotive, and others. The aerospace segment has around 25.3% of the total market share, which makes it the largest segment. However, the automotive segment is also expected to make substantial claims due to the burgeoning industry in the Asia Pacific region.
Detailed Regional Analysis
The market for thermoplastic polyurethane films covers regions such as Latin America, North America, Europe, Asia Pacific, and the Middle East Africa. Among these regions, the Asia Pacific region holds a main share of the market owing to the rising consumption of lightweight materials in packaging, construction buildings, automotive, among others. The automotive segment controls a majority portion and is foreseen to observe a swift growth pace in the market owing to increasing consumption of films in paint and scratch protections in the industry, for the period of the forecast period. The North American region is rising considerably due to an amplified consumption of polyurethane films in aerospace, furniture, energy, construction buildings, and others. Rising disposable income and escalating investments in the end-use industries are expected to motivate the market during the forecast period. The growing consumption of thermoplastic films in the construction buildings sector in U.S., Canada and Mexico have led to a spectacular growth in the market as they offer excellent wear and tear resistance to products.
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The European market has also observed an extraordinary growth rate owing to the implementation of new rules and regulations planned by the government to follow lightweight and biocompatible products in the industry. It is estimated that the mounting innovation and technological advancement are predicted to push the development in the countries such as Italy, the U.K, Germany, and France through the forecast period. The Latin American region is likely to witness considerable development in the market owing to the rising consumption of low density, humid resistant materials and increasing awareness of eco-friendly products in the industry. Moreover, the Middle East Africa is anticipated to witness an elevated growth in the market owing to accelerating demand for thermoplastic polyurethane films in aviation, construction buildings, and automotive sectors.
Competitive Analysis
The market attractiveness and competitors’ dynamics are greatly improved by the strategies that are being employed by market players. The market is very distinct in terms of segments relating to the products as well as the end users that are a part of the market. The enhanced financial liquidity of the competitors in the market has increased thereby proving new opportunities for growth of the market. The long term sustainability of the market is however greatly dependent on the tactics and the strategic roadmaps that are employed by market players. The market shows a great deal of potential for developing at an expedited pace. The product offering of the market has diversified tremendously as compared to the past few years, thereby making the market more lucrative for current and new contenders.
Permali (U.K)
AVERY DENNISON CORPORATION (U.S.)
Huntsman International LLC (U.S.)
BASF SE (Germany)
PAR Group (U.K)
The Lubrizol Corporation (U.S.)
AMERICAN POLYFILM
INC. (U.S.)
Wanhua Chemical Group Co.
Ltd (China)
3M (U.S.)
and MHW International Corp (U.S.)
Industry Updates:
July 2018 Covestro aims to considerably increase its worldwide film production to meet the rising demand in all regions. The capacity extensions are being considered at Guangzhou, China, Map Ta Phut, Thailand, South Deerfield, USA, and Dormagen, Germany. The capacity expansion they are investing in includes technologies and applications to improve production and product capacity.
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