Thermoplastic Polyurethane (TPU) Foaming Market Size Expected to Reach USD 510.18 Million by 2030 with CAGR of 7.3% | BASF SE, The Lubrizol Corporation, Covestro AG, Wanhua, etc.

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HR Analytics Market

The global Thermoplastic Polyurethane (TPU) foaming market size was USD 2,561.0 Million in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. Rising demand for TPU materials in footwear and sportswear and emergence of biobased TPC are key factors driving market revenue growth.

Thermoplastic polyurethane is a polymer material with great ductility, strong biocompatibility, and exceptional abrasion resistance. These features enable production of functional TPU parts for use in sectors, such as aeronautical engineering, medical devices, and sports equipment, which is one the key factors driving revenue growth of the market. TPUs surpass traditional thermoplastic materials in terms of abrasion and scratch resistance, which is critical for applications such as automobile interior components, sports and leisure equipment, technical parts, and specialty cables.

In addition, another factor driving market growth is its ability to be thermally treated repeatedly without crosslinking while preserving superior properties of comparable elastomeric polymers. TPU foam is blended with glass or mineral fillers/fibers to transform into reinforced TPU, a structural engineering polymer with desirable features such as abrasion resistance, high impact strength, strong fuel resistance, and high flow characteristics.

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Cellular thermoplastic foams are essential engineering materials given their lightweight and low cost. On the other hand, additive manufacturing, or 3D printing, is one of the emerging manufacturing technologies due to advantages such as design flexibility and toolless production. Currently, 3D printing of polymer composites is generally used to create solid items. In comparison to thermoset polyurethane and other thermoset elastomers, which cannot be treated again, it has a significant thermoplastic characteristic. When a thermoset foam reaches the end of its useful life, it is typically burned, which can be a laborious process depending on number and kind of compounded chemicals used. Recyclability and a sustainable product design facilitated by TPU are becoming key factors for manufacturing and using plastic globally as environmental rules continue to get stricter.

Drying is an important stage in ensuring that TPU processes well and a nice component is obtained after molding. If moisture is not successfully removed from polymer before processing, drying of molded components will fail, resulting in property loss and brittleness, which is another factor restraining growth of the market.

Report Scope:

Forecast Period : 2022-2030

CAGR: 7.3%

Base Year: 2021

Number of Pages: 250

How will this Report Benefit you?

An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global Thermoplastic Polyurethane (TPU) foaming market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for Thermoplastic Polyurethane (TPU) foaming. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.

Emergen Research has segmented global the TPU foaming market based on type, raw material, end-use:

  • Type Outlook (Revenue, USD Million; 2019-2030)
    • Polyether
    • Polyester
    • Polycaprolactone
  • Raw Material Outlook (Revenue, USD Million; 2019-2030)
    • Diols
    • Diisocyanate
    • Polyols
  • End-Use Outlook (Revenue, USD Million; 2019-2030)
    • Footwear
    • Medical
    • Automotive
    • Industrial Machinery
    • Marine
    • Construction
    • Others

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The global Thermoplastic Polyurethane (TPU) foaming market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Thermoplastic Polyurethane (TPU) foaming market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Thermoplastic Polyurethane (TPU) foaming market.

Some Key Highlights From the Report

  • The polyester segment accounted for a significant revenue share in 2021. Polyester is an excellent abrasion as well as chemical resistant, which is one of the major factors driving growth of this segment. Polyester offers a good balance of physical properties as well. TPU-based on polyester use applications requiring high resistance to fuels, lubricants, water, and other chemicals. In addition, polyester TPUs provide more transparency. When heated, polyester TPU can turn into an adhesive and be used for emblems in applications such as industrial washing, textile labeling, and ID systems.
  • The diisocyanate segment is expected to register a high growth rate over the forecast period. Main advantage of diisocyanate is provision of reactivity and curing properties to TPU, which is expected to drive growth of this segment. Diisocyanates are a class of chemical building blocks that are utilized in production of a wide variety of polyurethane goods. Polyurethanes are created by reacting a polyol (an alcohol with over two reactive hydroxyl groups per molecule) with diisocyanates, which are then combined to generate various polyurethane uses.
  • The marine segment is expected to account for a steady growth rate over the forecast period. Polyurethane epoxy resins protect boat hulls against water, weather, corrosion, and other factors that increase drag, impair hydrodynamics and shorten the life of the boat. Furthermore, stiff polyurethane foam insulates boats from noise and temperature extremes, improves abrasion and tear resistance, and boosts load-bearing capability while adding just a small amount of weight.
  • The Asia Pacific market is expected to register a significant growth rate over the forecast period. Increasing growth of building & construction, floorings, footwear, and packaging sectors is one of the primary factors driving growth of the market in this region. With a total output of over 12 billion pairs of shoes in 2021, China was the global highest footwear producer. Leading shoe producers include China, India, Vietnam, and Indonesia, demonstrating dominance of the Asia Pacific region in this sector. As of 2021, these major countries produced over 75% of the world’s footwear, which is another factor driving revenue growth of the market.

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Based on the competitive landscape, the market report analyzes the key companies operating in the industry:

Huntsman International LLC., BASF SE, The Lubrizol Corporation, Covestro AG, Wanhua, HEXPOL AB, Epaflex Polyurethanes Spa, Coim Group, Novotex Italiana S.p.A. and Mitsui Chemicals, Inc.

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With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Thermoplastic Polyurethane (TPU) foaming Market, 2022 to 2030, market-leading companies. You will find data, trends and predictions.

Detailed Regional Analysis covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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