June 13, 2024
Thermoplastic Polyurethane (TPU) Films Market

Rapid Industrialization And Population Growth Is Driving The Thermoplastic Polyurethane (TPU) Films Market

Thermoplastic polyurethane (TPU) films are versatile materials used for a variety of industrial and consumer applications owing to their reliability, durability and toughness. These films offer advantages like flexibility, abrasion resistance, impact resistance along with good adhesion properties. Their use in applications ranging from automotive interiors, medical devices, apparel & footwear, building & construction, electrical & electronics and packaging has been on a rise with growing industrial and consumer needs.

The global Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 543.97 Mn  in 2024 and is expected to exhibit a CAGR of 6.2%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the TPU films market is growing usage in medical applications. TPU films offer properties like flexibility, toughness and chemical resistance which make them ideal for medical devices. Their barrier properties help prevent diffusion of oxygen and moisture, making them suitable for packaging of medical devices and pharmaceutical products. Furthermore, TPU films also find increasing usage as alternative to PVC in medical tubing applications due to regulatory pressures against use of PVC. Growing healthcare spending and demand for advanced medical products is expected to drive the uptake of TPU films in medical applications over the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the Thermoplastic Polyurethane (TPU) Films market is moderate as significant capital investment is required for equipment and technology.

Bargaining power of buyers: The bargaining power of buyers in the TPU Films market is high as buyers have several options available from different manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials for TPU production are not specialized and require standard processing techniques.

Threat of new substitutes: The threat of new substitutes for TPU Films is low as TPU Films offer unique properties like elasticity and transparency that are not easily replicable.

Competitive rivalry: The competitive rivalry in the TPU Films market is high as the market is fragmented with presence of several regional and global players.

Key Takeaways

The global Thermoplastic Polyurethane (TPU) Films Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Thermoplastic Polyurethane (TPU) Films Market is estimated to be valued at US$ 543.97 Mn  in 2024 and is expected to exhibit a CAGR of 6.2%  over the forecast period 2024 to 2031.

Asia Pacific is expected to dominate the TPU Films market during the forecast period. Factors such as rapid industrialization & infrastructure development in emerging economies like China and India are driving the growth of the TPU Films market in Asia Pacific.

Key players operating in the TPU Films market are Honomobo Corporation, ATCO Ltd., Tempohousing, SG Blocks, Inc., Giant Containers Inc., Skanska AB, Speed House Group of Companies, Supertech Industries, Bechtel Corporation, and Lendlease Corporation. Key players are focusing on new product development and capacity expansion strategies to gain competitive advantage in the market.

Honomobo Corporation is one of the leading manufacturers of TPU Films globally. The company offers a wide range of TPU film grades for various applications like packaging, medical, automotive etc. Honomobo Corporation has a strong distribution network across major markets like North America, Europe and Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it