The global thermoplastic polyurethane (TPU) market size is expected to reach USD 3.81 billion by 2028from USD 2.32 billion in 2021, exhibiting a CAGR of 7.3% between 2021 and 2028. The growing innovations in TPU by OEMs can have an excellent effect on this market in the forthcoming years, states Fortune Business Insights, in a report, titled “Thermoplastic Polyurethane (TPU) Market, 2021-2028.”The market size stood at USD 2.34 billion in 2020.

Report Coverage-

The report consists of cumulative information on the market and relative new advances in the industry. Furthermore, the report consists of knowledge about the regional growth, collaborations, drivers and restraining factors, new product launches, and the overall impact of COVID-19 on the market.

Segmentation-

Polyester-based TPU to Hold the Lion’s Share

Based on type, the market is segmented into polyester, polyether, polycaprolactone, and others. Polyester-based TPU is expected to hold the largest share during the forecast period due to its adoption in applications, which require resistance to oils, fuels, and water.

Based on application, the market is classified into automotive, construction, engineering, footwear, hose tubing, wire cable, and others.

Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Regional Insights-

Increasing Product Demand to Foster Growth in Asia Pacific

Asia Pacific is anticipated to dominate the global thermoplastic polyurethane market share. The need for high-performance materials will aid the expansion of this industry in Asia Pacific.

North America is expected to hold a significant share during the forecast period due to the rising demand for footwear in the region.

Information Source:

https://www.fortunebusinessinsights.com/thermoplastic-polyurethane-tpu-market-102389