Report ID: 10085875 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Expanded Thermoplastic Polyurethane (E-TPU) Market Highlights Over 2022 - 2031
The global expanded thermoplastic polyurethane (E-TPU) market is estimated to grow at a ~7 % CAGR over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a revenue of approximately USD 2.0 billion in 2021. The growth of the market can be attributed to the presence of biodegradable properties of the chemical compound that protect the environment from being degraded. According to the World Bank, 60-70% of the world’s ecosystems are degrading faster in comparison to their recovery. Furthermore, as per the UN environment programme, only 10 % of world plastic has been recycled from the seven million tonnes of plastic waste generated. Industries are adopting eco-friendly measures in their business operations in order to contribute to the environment. Therefore, considering its flexibility, expanded thermoplastic polyurethane is used by manufacturers in different sectors, and it is expected to boost the growth of the global expanded thermoplastic polyurethane (E-TPU) market.
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The global expanded thermoplastic polyurethane (E-TPU) market is segmented by application into automotives, footwear, construction, engineering, and others. Out of these, the footwear segment is expected to grow at the highest share over the forecast period. This can be attributed to the flexibility of expanded thermoplastic polyurethane, the footwear industry is using it more in its manufacturing and packaging. Furthermore, there has been a rise in disposable income, which is expected to increase the growth of the footwear segment.
Global Expanded Thermoplastic Polyurethane (E-TPU) Market Regional Synopsis
Regionally, the global expanded thermoplastic polyurethane (E-TPU) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the expansion of industries in emerging countries. Expanded thermoplastic polyurethane is considered a high-performance material owing to the way it is used in different industrial sectors such as footwear, construction, automotive, and others. Therefore, as the number of industries increases, it is expected to drive the growth of the market in the region. The construction sector is growing in India considering the 100% FDI approved by the government. On the other hand, as per the National Bureau of Statistics of China, there has been an increase in China’s resident nominal disposable income by 9.1% in 2021. Moreover, China is expanding its trade in textiles and footwear to other countries. Additionally, these countries are following the measures to protect the environment from being polluted. Therefore, the Asia Pacific region is anticipated to grow in the global expanded thermoplastic polyurethane market.
Market Segmentation
Our in-depth analysis of the global expanded thermoplastic polyurethane (E-TPU) market includes the following segments:
By Application
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Automotive
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Footwear
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Construction
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Engineering
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Others
By Type
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Polycaprolactone
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Polyester
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Polyether
Growth Drivers and Challenges Impacting the Growth of the Global Expanded Thermoplastic Polyurethane (E-TPU) Market
Growth Drivers
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Biodegradable properties of expanded thermoplastic polyurethane
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Flexibility in terms of its usage
Challenges
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Costlier as compared to other plastic
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Lack of skilled labor
Key Companies Dominating the Global Expanded Thermoplastic Polyurethane (E-TPU) Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global expanded thermoplastic polyurethane (E-TPU) market that are included in our report are BASF SE, Avient Corporation, Donsung Co., Ltd., Huntsman International LLC, Lubrizol Corporation, American Polyfilm, Inc. Covestro AG, Miracll Chemicals Co., Ltd, Suzhou new Mstar Technology Ltd, HEXPOL AB, and others.
Latest Developments in the Global Expanded Thermoplastic Polyurethane (E-TPU) Market:
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8 December 2021: Huntsman International LLC., introduced recyclable TPU foam for use in footwear. The foam sheets are used in midsole, forepart, and insole insert applications by the footwear brands.
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6 December 2021: BASF SE provides a long-lasting solution with the help of Elastollan Thermoplastic Polyurethane (TPU) for premium leather usage in furniture, automotive, and fashion consumables.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by application, type, and by region.
The footwear segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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Report ID: 10085875 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
