Thermoplastic Polyurethane (TPU)- Growing Use in the Footwear and Apparel Industries, and PVC Substitute in Medical Applications

Thermoplastic polyurethane (TPU) is a type of polyurethane with numerous properties that make it useful in a variety of applications. It is a thermoplastic elastomer with high abrasion, oil, solvent, and temperature resistance. TPU has excellent tear strength and flexibility, making it an ideal material for a wide range of applications. Medical tubing, automotive parts, sporting goods, and footwear are all common applications. TPU is also useful as a coating and a bonding agent. The global Thermoplastic Polyurethane (TPU) Market is projected to reach USD 4.6 billion by 2027, at a CAGR of 7.1% from USD 3.2 billion in 2022.

The TPU market is mainly driven by the demand for TPU in various end-use industries, including automotive, medical, industrial machinery, footwear, and electronics, coupled with the replacement of conventional materials with TPU. Moreover, it is also driven by rapidly developing and emerging economies such as India, China, and Taiwan.

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Diisocyanates raw material is projected to be the fastest-growing segment in the global TPU market, in terms of volume, during the forecast period. Diisocyanates are an essential material used in the manufacturing of TPU as it reacts with polyols to form polyurethane chains that offer the material its desirable properties, including elasticity, durability, and resistance to chemicals and abrasion.

Polycaprolactone is a thermoplastic polyurethane (TPU) with excellent properties such as toughness, flexibility, and chemical resistance that is gaining market traction. It is used in a variety of industries, including automotive, medical, and consumer electronics, as well as coatings. It is also biocompatible and biodegradable, making it a promising candidate for medical and environmental applications. Polycaprolactone is expected to be the fastest-growing type in the thermoplastic polyurethane market in terms of value due to its superior properties. This is due to its increasing use in a variety of applications, including automotive, medical, and consumer electronics. Furthermore, its biodegradability and biocompatibility make it an appealing candidate for medical and environmental applications.

The markets of the Asia Pacific and South America are registering high growth, and the trend is projected to continue during the forecast period. Emerging economies such as India, China, South Korea, Brazil, and Argentina are investing in various industrial developments that are driving the TPU market. Growth in the European market is hindered due to the environmental regulations imposed on the usage of harmful substances, as TPU contains isocyanates.

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The key global players in the TPU market include 巴斯夫 SE (Germany), The Lubrizol Corporation Corporation (US), 科思创 (Germany), 亨斯迈集团 (US), 万华化学 (China), COIM Group (Italy), American Polyfilm, Inc. Inc (US), Kuraray Co., Ltd (Japan), PolyOne (US) and others.

Recent?Developments:

• In January 2023, Wanhua Chemical Group Co. Ltd. announced the development of polyether-based medical-grade TPU and radiopaque-grade TPU to provide solutions for medical applications such as extrusion tubes, injection MOLDING accessories, and cast films.
• In December 2022, The Lubrizol Corporation unveiled its new thermoplastic polyurethane (TPU) production line at its Songjiang manufacturing site in Shanghai, China. This action is another milestone of Lubrizol Engineered Polymers & investment in Asia Pacific, expanding the company& PU production capacity and strengthening regional business support.
• In April 2022, Covestro AG announced the expansion of its production capacities for thermoplastic polyurethane (TPU) Films in the Platilon range, as well as the associated infrastructure and logistics. The competition of the new projects is planned for THE end of 2023.
• In August 2020, BASF SE announced a collaboration with Maincal, the leading company in the manufacture of safety footwear in Argentina. The two companies collaborated for the launch of South America's first safety shoe made with Infinergy.