The global thermoplastic polyurethane market is projected to be worth USD 5,326 million by 2030, growing at a CAGR of 7.0%. This growth can be ascribed to the wide utilization of TPU in numerous applications like medical devices, automobile parts, and wound care items.
In 2022, based on the end-use industry, the footwear category generated the highest revenue share, and the category is projected to be in the top spot in the future as well. This can be credited to the high demand for polyurethane in the footwear sector because of its lucrative nature and customization options. It is utilized to make heels, soles, slippers, toe caps, and insoles, which offer an improved grip on greases, oils, and slippery surfaces.
The therapeutic sector provides numerous opportunities for thermoplastic polyurethane builders as it is a renowned material in this sector and can be utilized in many healing applications and healthcare items including wound care products, orthodontic products, medical instrument cables, dental materials, compression stockings, healthcare mattresses, catheters, and gel shoe orthotics. TPU-based items are far more flexible to temp and can be rigid at the time of pull-out and flexible once injected inside the body part. All these reasons are accountable for the development of the industry in this category.
To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/thermoplastic-polyurethane-market/report-sample
Based on type, in 2022, the polyester category had the largest revenue share, and the category is also projected to be in the dominant position in the future as well. This is mainly because of the growing need for polyester in the automobile, construction, and textile sectors as it offers extreme transparency.
Further, this material is utilized mostly in the textile sector, credited to its toughness and water resistance, and its thread is quicker and simpler to join into the fabric than other natural fibers such as cotton. Worldwide, polyester was a largely accepted fiber with a size of 57 million tons, which is responsible for 52% of the fiber industry, in recent years.
In 2022, worldwide, the APAC region dominated the thermoplastic polyurethane (TPU) market with a revenue share of over 55%, and the region is also projected to remain in the top spot throughout the projection period. This is mainly because of the wide utilization of TPU in the automotive and medical sectors, the region is the world's biggest exporter of vehicles, and the majority of OEMs are using polyurethane for manufacturing parts of automobiles.
Thermoplastic polyurethane can be defined as any liquid and gas manufactured for the transmission of heat from unit to another.
It is produced from highly refined petroleum, siloxanes or synthetically formulated hydrocarbons.
It is mainly used for cooling agent to prevent device from overheating.
It can have viscosity higher than water.
It provides low maintenance, safety and extended operating lifetimes.Global Thermoplastic Polyurethane Market is expected to rise from its initial estimated value of USD 1.62 billion in 2018 to an estimated value of USD 3.12 billion by 2026, registering a CAGR of 6.8% in the forecast period of 2019-2026.
The high oil resistance of the thermoplastic polyurethane is attributing to the rising demand in the end-use industries.
