Thermoplastic Polyurethane Elastomers Market is Projected to Grow at a CAGR Value of 5.9% During Forecast Period 2021-2031

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The report offers actionable and valuable market insights of Thermoplastic Polyurethane Elastomers. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Thermoplastic Polyurethane Elastomers Market across various industries and regions.

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Thermoplastic Polyurethane Elastomers Market – Key Insights

• Thermoplastic Polyurethane (TPU) elastomers market grew at a healthy CAGR of 4.7% between 2013 and 2018, on account of growing demand from automotive industry.
• In 2019, demand for Thermoplastic Polyurethane Elastomers is likely to remain high, with demand supported by the construction and footwear industries. The global Thermoplastic Polyurethane Elastomers market is estimated to reach US$ 2.7 billion by the end of the year.
• The Thermoplastic Polyurethane Elastomers market is on course to grow at a CAGR of 5.9% during the forecast period 2019-2027.
• Though the top 5 players in the Thermoplastic Polyurethane Elastomers market have a strong presence in the Americas and Europe, the Asia Pacific region excluding Japan (APEJ) is the leading market for Thermoplastic Polyurethane Elastomers. Growing demand for Thermoplastic Polyurethane Elastomers in a wide range of applications has boosted growth of the Thermoplastic Polyurethane Elastomers industry in the APEJ region.
• On the back of increasing investments by leading stakeholders, the APEJ region is likely to remain a high growth market for Thermoplastic Polyurethane Elastomers throughout the forecast period.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Thermoplastic Polyurethane Elastomers market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Thermoplastic Polyurethane Elastomers

This newly published and insightful report sheds light on Market Insights of Thermoplastic Polyurethane Elastomers, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Thermoplastic Polyurethane Elastomers Market.

The global Thermoplastic Polyurethane Elastomers market surpassed US$ 2.5 billion in 2018, and a new study by Fact.MR estimates revenues to grow at 5.4% in 2019. According to the study, increasing demand for Thermoplastic Polyurethane Elastomers in emerging economies of Asia Pacific excluding Japan (APEJ) continues to create sizeable opportunities for manufacturers. APEJ continues to hold over 50% share of Thermoplastic Polyurethane Elastomers globally.

Analyzing the key factors that are fuelling Thermoplastic Polyurethane Elastomers demand in APEJ, the study reports that strong presence of leading chemical companies along with increasing penetration of small- and medium-scale companies remain key growth drivers. Increasing investments by top-tiered players and rapidly-growing end-user industries continue to attract investments by market leaders, finds the Fact.MR study.

The Fact.MR study also assesses the business and product strategies of key players in the Thermoplastic Polyurethane Elastomers market. Investments and expansion in Asia Pacific continue to be a key focus for stakeholders in the Thermoplastic Polyurethane Elastomers market. BASF’s investment in Expanded Thermoplastic Polyurethane (E-TPU) Infinergy® at Changhua, Taiwan, and The Lubrizol Corporation’s investment in Songjiang (Shanghai) China plant are indicators of the growing prominence of APEJ among stakeholders.

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Environmental Concerns Trigger Manufacturing Innovations

The study finds that although Thermoplastic Polyurethane Elastomers have been witnessing incremental demand across versatile industrial applications, meeting the evolving sustainability requirements continues to be a challenge for stakeholders. Negative impacts of thermoplastics on the environment have been restricting manufacturers from exploring new niche applications.

Thereby, leading stakeholders in the Thermoplastic Polyurethane Elastomers market have been focusing on innovating their manufacturing strategies and technologies to discover biocompatible and biostable Thermoplastic Polyurethane Elastomers. According to the study, the focus on finding sustainable solutions is also driven by stringency in environmental regulations. In many countries of APEJ, environmental regulations have become more stringent over the years, and manufacturers have had to adapt to the changing status-quo.

Some notable examples include,

• In March 2019, Lubrizol International, Inc. announced the launch of a new, toluene-free Pearlbond TPU for films and adhesives, to expand its high-melt strength Pearlbond TPU portfolio. Toluene exposure can have hazardous impact on the environment as well human health. The company announced that the new Pearlbond TPU is toluene-free and recyclable, thereby environment-friendly, and it can be used in various applications such as furniture, footwear, automotive films, and apparels.
• In February 2019, A.P.I. Applicazioni Plastiche Industriali SPA – an Italian chemical company – announced the launch of the new recyclable TPU APILONTM52 A/C-series. The company declared that the new portfolio of its TPU elastomer products reduces the production cycle time by around 70% while significantly cutting the energy consumption and production costs.
• In October 2018, Covestro AG – a German stakeholder in the Thermoplastic Polyurethane Elastomers market – discovered a new carbon dioxide (CO2)-based technology for manufacturing environmentally-friendly Thermoplastic Polyurethane Elastomers. With growing concerns about ecological fallout, Covestro established partnerships with research institutes and other companies to boost the use of CO2technology as a synthesis platform for the large-scale production of Thermoplastic Polyurethane Elastomers.

Fact.MR’s study tracks developments in the Thermoplastic Polyurethane Elastomers market for the assessment period 2019-2027. According to the study, the Thermoplastic Polyurethane Elastomers market is expected to envisage impressive growth at a CAGR of 5.9% during the assessment period.

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Key Question answered in the survey of Thermoplastic Polyurethane Elastomers market report:

• Sales and Demand of Thermoplastic Polyurethane Elastomers
• Growth of Thermoplastic Polyurethane Elastomers Market
• Market Analysis of Thermoplastic Polyurethane Elastomers
• Market Insights of Thermoplastic Polyurethane Elastomers
• Key Drivers Impacting the Thermoplastic Polyurethane Elastomers market
• Which are the Key drivers impacted by Thermoplastic Polyurethane Elastomers market
• Restraints Shaping Market Growth
• Market Survey of Thermoplastic Polyurethane Elastomers

More Valuable Insights on Thermoplastic Polyurethane Elastomers Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Thermoplastic Polyurethane Elastomers, Sales and Demand of Thermoplastic Polyurethane Elastomers, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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