The thermoplastic polyurethane (TPU) market is expected to grow by USD 863.90 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200921005056/en/
Technavio has announced its latest market research report titled Global Thermoplastic Polyurethane Market 2020-2024 (Graphic: Business Wire)
Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts
The rapidly expanding population, strong economic growth, and rising purchasing power have increased the sales of automobiles in countries such as China, India, Indonesia, and Thailand. Besides, favorable government policies in these countries have been continuously supporting the growth of the automobile industry. TPU is widely used in the automobile industry for various applications such as door and acoustic panels, instrument panels, anti-vibration panels, seats, and airbags. This is because of their properties such as elasticity, strength, chemical and grease resistance, and high-temperature resistance. Therefore, the thriving automobile industry in APAC is expected to drive the growth of the global thermoplastic polyurethane market during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44834
As per Technavio, the superior properties of TPU will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Thermoplastic Polyurethane Market: Superior Properties Of TPU
TPU exhibits excellent physical and chemical properties such as flexibility, resistance to alkali and chemical reactions, abrasion resistance, resistance to UV radiation, high-temperature resistance, and high tear strength. These properties have increased the use of TPU in various end-user industries such as automotive, footwear, consumer goods, electronics, and construction. This is one of the key trends fueling the growth of the global thermoplastic polyurethane market.
"Recyclability of TPUs and rising investments in the healthcare industry will further boost market growth during the forecast period," says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Thermoplastic Polyurethane Market: Segmentation Analysis
This market research report segments the thermoplastic polyurethane market by Product (Polyester, Polyether, and Polycaprolactone), Application (Consumer goods and electronics, Automotive, Construction, and Others), and Geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the thermoplastic polyurethane market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the thriving medical tourism industry in China and India.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.