November 26, 2021 08:38 ET | Source: Research and Markets Research and Markets
Dublin, Nov. 26, 2021 (GLOBE NEWSWIRE) -- The "Thermoplastic Polyurethane (TPU) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Thermoplastic Polyurethane Market is valued at USD 2,326.46 million in 2020, and it is projected to register a CAGR of over 6.5% by 2026.
The market witnessed a slight decline in early 2020 due to the COVID-19 outbreak, leading to lockdown and delay in the construction of projects and restricted activities. However, after lifting the lockdown, the industries are expected to witness a sharp increase by the mid-forecast period, which may, in turn, drive the demand for thermoplastic polyurethane in the future. In the automobile industry, various automobile and component manufacturing plants temporarily shut their production and office operations across the world, leading to a sharp drop in automotive sales.
Companies, such as Nissan, Volkswagen, Ford, Renault, Fiat Chrysler, Toyota, Hyundai, Maruti Suzuki, and Mahindra & Mahindra, suspended the manufacturing and assembly lines to curb the spread of COVID-19. Furthermore, due to the COVID-19 pandemic, many countries are planning to set up their domestic manufacturing industries for key manufacturing activities, in order to decrease their reliance on imports. This, in turn, is driving the demand for thermoplastic polyurethane from the medical industry.
Increasing Demand from Extruded Products
The Asia-Pacific Region to Dominate the Market
4 MARKET DYNAMICS 4.1 Drivers 4.1.1 Increasing Applications in the Medical Industry 4.1.2 Eco-friendly and Recyclable 4.1.3 Rising Usage in Industrial Application 4.2 Restraints 4.2.1 Declining Automotive Production 4.2.2 Negative Economic Impact of COVID-19 4.3 Industry Value Chain Analysis 4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION 5.1 Application 5.1.1 Extruded Products 5.1.2 Injection Molded Products 5.1.3 Adhesives 5.1.4 Other Applications 5.2 End-user Industry 5.2.1 Construction 5.2.2 Automotive 5.2.3 Footwear 5.2.4 Medical 5.2.5 Electrical and Electronics 5.2.6 Heavy Engineering 5.2.7 Other End-user Industries 5.3 Geography 5.3.1 Asia-Pacific 5.3.1.1 China 5.3.1.2 India 5.3.1.3 Japan 5.3.1.4 South Korea 5.3.1.5 ASEAN Countries 5.3.1.6 Rest of Asia-Pacific 5.3.2 North America 5.3.2.1 United States 5.3.2.2 Canada 5.3.2.3 Mexico 5.3.3 Europe 5.3.3.1 Germany 5.3.3.2 United Kingdom 5.3.3.3 Italy 5.3.3.4 France 5.3.3.5 Rest of Europe 5.3.4 South America 5.3.4.1 Brazil 5.3.4.2 Argentina 5.3.4.3 Rest of South America 5.3.5 Middle-East and Africa 5.3.5.1 Saudi Arabia 5.3.5.2 South Africa 5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements 6.2 Market Share**/Ranking Analysis 6.3 Strategies Adopted by Leading Players 6.4 Company Profiles 6.4.1 Trinseo 6.4.2 AVIENT CORPORATION (Formerly PolyOne Corporation) 6.4.3 Epaflex Polyurethanes SpA 6.4.4 BASF SE 6.4.5 Covestro AG 6.4.6 Coim Group 6.4.7 Miracll Chemicals Co. Ltd 6.4.8 Huafeng Group 6.4.9 Huntsman International LLC 6.4.10 DONGSUNG CORPORATION 6.4.11 Sumei Chemical Co. Ltd 6.4.12 Suzhou new Mstar Technology Ltd 6.4.13 The Lubrizol Corporation 6.4.14 Tosoh Corporation 6.4.15 Wanhua Chemical Group Co. Ltd 6.4.16 HEXPOL AB
7 MARKET OPPORTUNITIES AND FUTURE TRENDS 7.1 Shifting Focus toward the Development of Bio-based Products 7.2 Increasing R&D Activities
For more information about this report visit https://www.researchandmarkets.com/r/yqzvpg