The thermoplastic polyurethane market is expected to reach US$ 5.60 Billion by 2032.
The thermoplastic polyurethane market is expected grow at a CAGR of 7.6% between 2023 to 2032.
The thermoplastic polyurethane market was estimated to be US$ 2.69 Billion in 2022.
The rising demand for TPU in electronics, the emphasis on lightweight and durable materials, and technological advancements are significant driving factors propelling the growth of the global thermoplastic polyurethane (TPU) market.
BASF SE (Germany), COIM Group (Italy), Covestro AG (Germany), DSM Engineering Plastics (Netherlands), Huntsman Corporation (United States), Lubrizol Corporation (United States), Mitsui Chemicals, Inc. (Japan), PolyOne Corporation (United States), RTP Company (United States), SABIC (Saudi Arabia), Teknor Apex Company (United States), Wanhua Chemical Group Co., Ltd. (China), Covestro LLC (United States), Lehmann & Voss & Co. KG (Germany), Tianjin Nanya Plastics Co., Ltd. (China) among others, are the key players in this market.
The combination of excellent mechanical properties, hydrolysis resistance, customization options, and efficient processing techniques makes polyester-based TPUs the largest segment in the Thermoplastic Polyurethane market.
The Asia-Pacific region is a significant market for TPU, driven by the rapid industrialization, infrastructure development, and the presence of emerging economies.
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