Remarkable Growth To Be Observed By Thermoplastic Polyurethane Market, Revenue To Rise To US$ 2.84 Billion By 2022

A new research report released by Zion Market Research has found the global thermoplastic polyurethane market to display an extremely competitive business landscape owing to the large pool of partakers. Few of the prominent merchants in the global thermoplastic polyurethane market include Bayer Material Science Ag, Polyone Corporation, BASF SE, Huntsman Corporation, Lubrizol Corporation, and Wanhua Chemical Group Co. Ltd. These participants across the thermoplastic polyurethane market are concentrating insistently on improvement, on top of incorporating sophisticated technologies in their prevailing solutions. Also, they are anticipated to engage in affiliations and mergers & acquisitions in the near future as their major tactic for business development.

An enhanced variant of thermoplastic polyurethane technology has been introduced by BASF in 2018 to boost the shoe production. The firm’s resources said that the latest technology will assist in decreasing the costs of shoe shank production. Resources mention that the pioneering TPU method will assist in dropping the processing time by almost 30%, thus reducing labor costs. Forecasters are of the view that the tactical plan will add considerably to the revenue hike for the thermoplastic polyurethane market in the coming period.

This review is based on a report by Zion Market Research, titled “Thermoplastic Polyurethane Market by Injection Molding, Extrusion, Adhesives & Sealants and Paints & Coatings Applications for Automotive, Construction, Engineering, Footwear, Hose & Tube, Medical and Wire & Cable End-Users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022.”- Report at https://www.zionmarketresearch.com/report/thermoplastic-polyurethane-market

The global thermoplastic polyurethane market, as projected in this report, in 2016, stood at US$ 1.93 Billion. The revenue of the market is anticipated to attain US$ 2.84 Billion while observing a remarkable growth from 2017 to 2022.

Likely Surge To Be Observed In Market Size Owing To Blooming Vehicle And Construction Sectors
The study’s author states, “Escalating demand from construction, medical, and automotive sectors will advance the thermoplastic polyurethane market growth in the coming period.” Furthermore, vast product applications observed in paints & coatings, extrusion, adhesives & sealants, and injection molding will further boost the business sphere in the forecast period.

Rising global concerns associated with ecological damage due to product use and manufacture is anticipated to hamper the growth of the thermoplastic polyurethane market. Additionally, variations in the costs of raw material can obstruct the business’ profitability in the years to come. However, the manufacture of bio-based products is predicted to present new growth avenues for the thermoplastic polyurethane market in the coming period, thus neutralizing the influence of obstacles on the market.

Regional Dominance Of APAC To Be Maintained By Huge Product Popularity 
Asia Pacific has been a prominent region in the global thermoplastic polyurethane market and is projected to carry on to be the dominant one in the coming period, according to the study of the thermoplastic polyurethane market. Mounting product demand from the developing nations in the region and the thriving automotive sector are the key reasons for Asia Pacific’s dominance in the thermoplastic polyurethane market. Also, another factor contributing to the expansion of this regional thermoplastic polyurethane market is the high digit of market participants being headquartered in Asia Pacific 

Global Thermoplastic Polyurethane Market: Application Segment Analysis

• Injection Molding
• Extrusion
• Adhesives & Sealants
• Paints & Coatings

Global Thermoplastic Polyurethane Market: End-User Segment Analysis

• Automotive
• Construction
• Engineering
• Footwear
• Hose & Tube
• Medical
• Wire & Cable

Global Thermoplastic Polyurethane Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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