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Thermoplastic Polyurethane Market Key Drivers, Industry Share and Future Growth Demand Analysis by 2029, Fortune Business Insights
The global thermoplastic polyurethane (TPU) market size is expected to reach USD 3.81 billion by 2028 from 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.

Segmentation-

Polyester-based TPU to Hold the Lion’s Share

Based on type, the thermoplastic polyurethane (tpu) 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.


Drivers & Restraints-

Development of Bio-based Polymers to Incite Growth

The usage of thermoplastic polyurethane will be fueled by the growing development of bio-based polymers, in turn, uplifting the TPU market growth. Chlorinated plastic can leach hazardous chemicals into the soil, leaking groundwater and other nearby water sources. Humans and animals may suffer serious health consequences as a result of this. Furthermore, countries have established several rules requiring the use of environmentally friendly polymers. TPU has abrasion resistance, grease resistance, and excellent mechanical characteristics in addition to being biodegradable. TPUs are also regarded as environmentally friendly by the U.S. National Library of Medicine since they are produced utilizing either degradable chain extenders or biodegradable chain extenders.
However, the high manufacturing costs may hinder the market growth.

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.

Europe is projected to experience substantial growth during the forecast period. The rapidly growing automotive industry in Germany, France, and the U.K. will bolster growth in Europe.

Browse Summary of This Research Report:

https://www.fortunebusinessins....ights.com/thermoplas

Thermoplastic Polyurethane (TPU) Market Size & Growth, 2028
www.fortunebusinessinsights.com

Thermoplastic Polyurethane (TPU) Market Size & Growth, 2028

The global thermoplastic polyurethane (TPU) market is projected to grow from $2.32 billion in 2021 to $3.81 billion in 2028 at a CAGR of 7.3% in forecast period
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