|By PR Newswire||
|March 25, 2014 09:59 PM EDT||
DUBLIN, March 26, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/853dnd/thermoplastic) has announced the addition of the "Thermoplastic Polyurethane Market by End-Industry & Geography - Trends & Forecasts to 2018" report to their offering.
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Thermoplastic polyurethane (TPU) is one of the most preferred engineering plastic by various end-user industries. TPU is gaining popularity among the end-user market mainly due to its properties to satisfy the diverse application needs. Footwear market is the biggest end use market of TPU; however, TPU is gaining popularity in the automotive industry and is being used in the several interior and exterior applications. TPU application in the medical industry is expected to witness the double digit growth, owing to the trend of PVC replacement with TPU. Bio-based TPU is in the nascent stage for the commercialization of bio-based material. The increase in the production of bio-based material would help the material in penetrating the eco sensitive market. The increased applications in automobile and scope of development in footwear industry is an opportunity for the growth of TPU material in these end use markets.
TPU market is driven by replacing materials that are not as superior as the TPU in terms of properties and physical attributes. Increasing R&D efforts are expected to ensure that the newer applications and demands from the end use markets are met with along with increasing the efficiency of TPU and other TPU grades. Increasing popularity in the automotive, engineering and medical industries promises the growth of TPU in the long-term future.
The Asia-Pacific region led the global TPU market; it contributed nearly 52.8% of the total revenue in 2012. China was the global leader in TPU consumption, followed by U.S.; together both these countries consumed 46.2% of the global consumption. The Indian TPU consumption for the end use applications is expected to grow at 8.4% from 2013 to 2018.
New product launch is the major strategy adopted by the companies for increasing their market share. Other development strategies that major market players are engaged in are mergers & acquisitions, agreements & collaboration and expansion. Companies are expanding their geographical footprints by setting up plants at new locations; Asia-Pacific is emerging as a top destination for the companies in order to expand. TPU manufacturers are investing heavily in the research & development activities to create new grades of TPU with advanced and new properties to meet the new demands arising from the end-user market. One of the major problems is the price setting by major players that is restraining the growth of TPU industry.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Thermoplastic Polyurethane Market, By End-Use
6 Thermoplastic Polyurethane Market, By Geography
7 Competitive Landscape
8 Company Profiles
- Api Plastics
- Basf Se
- Bayer Material Science Ag
- Headway Polyurethane Co. Ltd.
- Hexpol Ab
- Huntsman Corporation
- Lubrizol Corporation
- Miracll Chemical Co. Ltd.
- Polyone Corporation
- Taiwan Sheen Soon
- Wanhua Chemical Group Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/853dnd/thermoplastic
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets