In this blog post, we will delve into the world of Thermoplastic Polyurethane (TPU) industry statistics. Understanding the current trends, market size, growth opportunities, and key players in the TPU industry is essential for businesses and individuals looking to stay informed and make data-driven decisions. Let’s explore the latest statistics and insights shaping the dynamic landscape of the TPU industry.
The Latest Thermoplastic Polyurethane Industry Statistics Explained
The global thermoplastic polyurethane (TPU) market size stood at USD 2.30 billion in 2019.
The statistic ‘The global thermoplastic polyurethane (TPU) market size stood at USD 2.30 billion in 2019’ indicates the total value of the TPU market worldwide in terms of sales for the year 2019. This figure represents the revenue generated from the production and sale of TPU products within that specific timeframe. Tracking the market size provides valuable insights into the scale and growth of the TPU industry, reflecting factors such as demand, supply, pricing, and overall economic conditions influencing the market. This statistic serves as a crucial benchmark for understanding the significance and potential trends within the TPU market, guiding both industry players and analysts in making informed decisions and strategic planning.
The TPU market is predicted to reach USD 3.82 billion by 2027, exhibiting a CAGR of 6.7%.
The statistic ‘The TPU market is predicted to reach USD 3.82 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 6.7%.’ indicates that the Thermoplastic Polyurethane (TPU) market is expected to grow steadily over the forecast period. The prediction of reaching USD 3.82 billion by 2027 suggests significant market expansion from the current size. The CAGR of 6.7% highlights the expected average annual growth rate of the market, reflecting sustained growth momentum in the TPU industry. This statistic implies that there is a positive outlook for the TPU market, with increasing demand likely driven by factors such as technological advancements, expanding applications, and evolving consumer preferences.
Asia Pacific held the highest market share in the TPU market in 2020.
In 2020, the Asia Pacific region had the largest market share in the Thermoplastic Polyurethane (TPU) market compared to other regions globally. This statistic indicates that a significant portion of the global TPU market value was derived from countries within the Asia Pacific region. Factors contributing to this high market share could include a strong manufacturing base, increasing industrial activities, growing consumer demand for TPU products, and favorable government policies supporting the TPU industry in the region. Companies operating in the Asia Pacific region likely capitalized on these opportunities to strengthen their presence and market position within the TPU market in 2020.
Footwear is the biggest application area for TPU making up 24% of demand.
The statistic indicates that out of all the applications for Thermoplastic Polyurethane (TPU), footwear accounts for the largest share of demand at 24%. This suggests that the footwear industry relies significantly on TPU for various purposes such as shoe soles, uppers, and other components. The high demand for TPU in footwear highlights its desirable properties such as flexibility, durability, and resistance to abrasion, making it a popular material choice in the footwear manufacturing process. Additionally, the statistic implies that the footwear sector plays a significant role in driving the overall demand and growth of the TPU market.
In 2019 the automotive industry was the second largest consumer of TPU.
The statistic “In 2019, the automotive industry was the second largest consumer of TPU” indicates that in that year, the automotive industry ranked second in terms of the volume of Thermoplastic Polyurethane (TPU) consumed among all industries. TPU is a versatile material commonly used in various applications due to its properties such as elasticity, transparency, and resistance to oil and grease. The fact that the automotive industry was the second largest consumer of TPU suggests that TPU plays a significant role in the production of automotive components, likely due to its durability and flexibility, which are important qualities for materials used in the manufacturing of automotive parts such as seals, hoses, and bumpers. This statistic highlights the importance of TPU in the automotive sector and its substantial contribution to the overall demand for TPU as a raw material.
Asia Pacific region is projected to register a high CAGR of 7.8% in the TPU market during the forecast period.
This statistic indicates that the Asia Pacific region is expected to experience a significantly high Compound Annual Growth Rate (CAGR) of 7.8% in the Thermoplastic Polyurethane (TPU) market over the forecast period. The high CAGR suggests a strong growth trajectory for the TPU market in the Asia Pacific region compared to other regions, indicating increasing demand for TPU products in industries such as automotive, footwear, and electronics. Factors such as rapid industrialization, infrastructural developments, and growing consumer awareness about the benefits of TPU materials are likely contributing to this projected growth rate. Companies operating in the TPU market should pay attention to this forecasted growth in the Asia Pacific region and consider investing in this market to capitalize on potential opportunities for expansion and market share growth.
Bio-based thermoplastic polyurethane is expected to show a higher rate of growth of 6.8% from 2020 to 2027.
The statistic indicates that the bio-based thermoplastic polyurethane market is projected to experience a significant increase in demand and production, with a growth rate forecasted at 6.8% from the year 2020 to 2027. This growth rate suggests a positive trend in the adoption and utilization of bio-based thermoplastic polyurethane materials over the specified time period. Factors such as increasing environmental awareness, sustainability initiatives, and regulatory support for bio-based products are likely contributing to this anticipated growth. As such, stakeholders in the industry can expect substantial opportunities for expansion and investment in the bio-based thermoplastic polyurethane market in the coming years.
Polyester type thermoplastic polyurethane dominated the overall market with a share of approximately 50% in 2019.
This statistic indicates that polyester type thermoplastic polyurethane was the most prevalent material in the overall market in 2019, capturing a significant share of approximately 50%. This suggests that companies and consumers favored this particular type of thermoplastic polyurethane over others for various applications such as in manufacturing, construction, automotive, and consumer goods. The dominance of polyester type thermoplastic polyurethane in the market can be attributed to factors such as its specific properties, cost-effectiveness, durability, and versatility, making it a preferred choice among manufacturers and end-users during that period.
Europe is the significant consumer of TPU with a market share of more than 28% by revenue in 2019.
The statistic indicates that Europe was a major consumer of Thermoplastic Polyurethane (TPU) in 2019, accounting for over 28% of the total market revenue globally. This means that a significant portion of the TPU products sold in 2019 were purchased by consumers in Europe. The high market share suggests that Europe plays a crucial role in driving the demand for TPU, potentially due to various industries utilizing TPU in their products or manufacturing processes. The statistic highlights the importance of the European market in the TPU industry and underlines the region’s influence on the global TPU market dynamics.
The TPU industry employs a significant amount of people, with the number exceeding 10,000 globally.
The statistic suggests that the thermoplastic polyurethane (TPU) industry has a considerable impact on global employment, employing over 10,000 people worldwide. This indicates that the TPU industry is a significant sector within the global economy, providing jobs and opportunities for a large number of individuals. The employment figure implies that TPU production and related activities create a substantial workforce, contributing to economic growth and stability in various regions. Additionally, the high number of employees signifies the industry’s importance in terms of production volume, market demand, and overall industrial significance.
The market’s top players in 2020 included BASF SE, Covestro AG, and Huntsman Corporation.
The statistic “The market’s top players in 2020 included BASF SE, Covestro AG, and Huntsman Corporation” indicates that in the year 2020, these companies were among the leading competitors in the market. These companies are likely to have had a significant market share, strong revenue streams, and competitive positions within their respective industries. Being recognized as top players suggests that these companies may have demonstrated strong performance in terms of financial results, product offerings, innovation, market presence, and overall influence in the market. This statistic highlights the prominence and competitiveness of these companies in the market landscape during the year 2020.
Injection molding held the largest portion of the TPU market by end-use industry in 2019.
This statement indicates that, in 2019, the end-use industry sector that utilized thermoplastic polyurethane (TPU) the most was injection molding. This means that a significant portion of TPU materials were being processed and molded using the injection molding technique within various industrial applications. The dominance of injection molding in the TPU market suggests that this manufacturing process was a popular and effective method for creating products or components across different industries, highlighting the versatility and utility of TPU material in meeting the specific requirements of end-use applications.
Over 650 global companies were involved in the TPU industry in 2020.
The statistic “Over 650 global companies were involved in the TPU (Thermoplastic Polyurethane) industry in 2020” suggests a large and diverse presence of businesses within this sector. This indicates a significant level of competition and activity within the industry, with various companies likely engaging in the production, distribution, and utilization of TPU products. The high number of companies involved also implies a widespread global interest and investment in TPU materials, which are known for their versatility and applications across a wide range of industries such as automotive, electronics, footwear, and sporting goods. This statistic reflects a dynamic and competitive market environment within the TPU industry, with numerous players contributing to innovation and development in the sector.
The construction industry is expected to be the fastest-growing end-use industry of TPU during the forecast period.
The statement suggests that within the Thermoplastic Polyurethane (TPU) market, the construction industry is anticipated to experience the highest rate of growth compared to other industries utilizing TPU over the forecast period. This means that the demand for TPU within the construction sector is projected to substantially increase, signaling a significant opportunity for TPU manufacturers and suppliers catering to this segment. Factors driving this growth could include increased construction activity, infrastructure development projects, and the unique properties of TPU that make it suitable for various construction applications, such as sealants, adhesives, roofing materials, and more. This statistic provides valuable insights for stakeholders looking to capitalize on the growth potential within the TPU market, particularly within the construction industry.
In 2020, the U.S. accounted for the largest share of the North America TPU market.
In 2020, the statistic that the U.S. accounted for the largest share of the North America TPU (Thermoplastic Polyurethane) market indicates that the United States had the highest level of consumption, production, or market revenue among North American countries in the specific category of TPU products. This suggests that the U.S. was a key player in driving the demand and growth of TPU within the region, potentially due to factors such as large industrial usage, strong manufacturing capabilities, or robust consumer demand. This statistic highlights the U.S.’s dominant position within the North American TPU market and may have implications for industry trends, trade dynamics, and economic influences in the region.
Demand for TPU in wire & cable applications is expected to grow at a CAGR of 6.2% from 2017 to 2025.
The statistic indicates that the demand for Thermoplastic Polyurethane (TPU) in wire and cable applications is projected to exhibit a Compound Annual Growth Rate (CAGR) of 6.2% from the year 2017 to 2025. This implies an estimated annual growth rate of 6.2% for the specified period, signifying a steady increase in the utilization of TPU in wire and cable industries. Factors such as the versatility, durability, and performance characteristics of TPU, along with the expanding applications of wire and cable products in various sectors, are likely driving this growth trend. This statistic suggests a positive outlook for the TPU market segment within the wire and cable industry over the forecasted period.
The market share of TPU in the industrial sector is predicted to increase by 2% by 2027.
The statistic ‘The market share of TPU in the industrial sector is predicted to increase by 2% by 2027’ indicates that the proportion of TPU (Thermoplastic Polyurethane) within the industrial sector market is forecasted to grow by 2% by the year 2027. This prediction suggests that TPU is expected to gain a larger presence in the industrial sector relative to other materials or products, signaling potential growth and competitiveness for TPU within this market. This statistical projection provides insights into the anticipated market dynamics and trends pertaining to TPU usage in the industrial sector over the specified time frame, which could impact strategic business decisions and investments within the industry.
Polyester TPU represented the biggest segment in the TPU market in 2019, with a market share of around 57%.
The statistic indicates that in 2019, within the thermoplastic polyurethane (TPU) market, the segment of Polyester TPU held the largest portion with approximately 57% market share. This suggests that the Polyester TPU products were the most commonly used or sold TPU materials during that time period. Companies producing Polyester TPU likely dominated the market due to factors such as cost-effectiveness, performance characteristics, availability, or marketing strategies. This statistic highlights the significant presence and influence of Polyester TPU in the TPU market landscape of 2019.
The leather goods segment had a 5% share of the global TPU market in 2020.
The statistic indicates that the leather goods segment held a 5% portion of the total Thermoplastic Polyurethane (TPU) market worldwide in the year 2020. This suggests that among all the industries or applications utilizing TPU materials, leather goods accounted for a relatively small but significant market share. The percentage figure highlights the relative importance of the leather goods segment within the global TPU market and provides insight into the extent of TPU usage in the production of leather products such as footwear, bags, and accessories in the given year.
China is the key driver for the growth of thermoplastic polyurethane, accounting for more than half of the Asia Pacific TPU market.
The statistic suggests that China plays a vital role in the growth of the thermoplastic polyurethane (TPU) market in the Asia Pacific region. More specifically, China is the primary force driving this growth, with its market share representing over 50% of the entire TPU market in Asia Pacific. This indicates that China is a dominant player in the TPU industry within the region, significantly influencing the overall market trends and dynamics. The statistic highlights China’s significant impact on the demand and consumption of TPU, emphasizing the country’s importance in the industry’s growth trajectory in Asia Pacific.
References
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