US Thermoplastic Polyurethane (TPU) Market – By Raw Material (Diisocyanate, Polyols, Diols), By Ty

Published Date: March 2020 | Report Code : MT2061851


US Thermoplastic Polyurethane (TPU) Market – By Raw Material (Diisocyanate, Polyols, Diols), By Type (Polyester, Polyether, Polycaprolactone), By End User ( Industrial Machinery, Footwear, Medical, Electronics, Automotive, Others)

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Domain : Materials

Report Code : MT2061851

Status : Published March 2020

This research report categorizes the US thermoplastic polyurethane market based on various segments, provides market size estimations and forecasts, and highlights key trends in each of the submarkets. The report identifies key drivers, opportunities, and challenges that influence the US thermoplastic polyurethane market dynamics. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment of the US thermoplastic polyurethane market. Recent market developments and competitive strategies such as expansion, product launch and developments, partnerships, mergers, and acquisitions have been included in order to draw the competitive landscape of the US thermoplastic polyurethane market.

TPU Market Segment

US Thermoplastic Polyurethane Market – Market Scope

US thermoplastic polyurethane (TPU) market was estimated at USD 679.23 million in 2020 and is projected to reach USD 1,095.80 million by 2028 at a CAGR of 5.5% between 2020 and 2028. Key factors driving the demand of the TPU market in the US include increasing demand for 3D printing applications and growing market demand in medical devices over conventional materials. Thermoplastic polyurethane is a type of polyurethane plastic with advanced properties including elasticity, transparency, and resistance against oil, grease, and abrasion. In terms of composition, thermoplastic polyurethane consists of an alternating sequence of hard and soft segments with the reaction of diisocyanates with diols and diisocyanates with long-chain diols.  The market history for TPU dates back to 1954 where DuPont (DowDuPont) introduced TPU in 1954 and developed in subsequent years by 1960. Today, TPU is manufactured globally with strong production concentration in the Asia Pacific, North America, and the European region. Its biodegradable nature makes it one of the most favored thermoplastic elastomer.

Segment Analysis-

The US thermoplastic polyurethane market has been segmented by raw material, type, and end user. By raw material, this market is segmented by diisocyanate, diols, and polyols. Diisocyante being one of the key materials dominated the market with a percentage share of 49% in 2019 by value in the US market. The diisocyanate segment in the US market was estimated at USD 330.4 Million in 2020 and projected to grow at a CAGR of 5.0% during the forecast period. Major diisocyanates used in the manufacturing of TPU include methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), hexamethylene diisocyanate (HDI), isophorone diisocyanate (IPDI), and others.  

TPU Market Raw Material

US Thermoplastic Polyurethane Market: By Raw Material

By type, the US thermoplastic polyurethane market is segmented by polyether, polyester, and polycaprolactone. This segment is dominated by polyester with a market share of 42.4% in 2019 and projected to grow at a CAGR of 5.5% by value during the forecast period. Polyether and Polyester-based TPU constituted around 77% market share by value in 2019.  These two grades dominate the end user market with wide application base including footwear, industrial hoses & pipes, electronic casing, automotive components, and others. The polycaprolactone type TPU with enhanced properties is estimated to register the fastest growth rate with increased demand in high-end applications including dental equipment and surgical devices in the medical segment.


US Thermoplastic Polyurethane Market: By Type

By end user, the US thermoplastic polyurethane market is segmented by footwear, industrial machinery, automotive, medical, electronics, and others. The other segment includes agriculture, furniture, and textiles. Among these end users, footwear and industrial machinery dominate the TPU market with a share of 55% in 2019 by value in 2019. Footwear and industrial machinery (hoses, seals, and gaskets) have been traditional markets for TPU with high volume consumption. Polyether and polyester-based TPU dominate in this segment with comparatively lower average pricing. Other key end users in the TPU market include automotive, medical, electronics with demand for advanced grades to meet specific requirements. The medical segment is estimated to register the fastest growth during the forecast period.


US Thermoplastic Polyurethane Market: By End User

By competitive scenario, the US TPU market is dominated by companies including Lubrizol, BASF, Huntsman, Covestro, Wanhua, and others. The market demand is catered by production in North America and China. However, recent trade implications with China are expected to have a major impact on the supply capacity in the US market. Companies have adopted organic and inorganic growth strategies to consolidate the market position in the country.  Organic strategies include new product development whereas inorganic includes acquisitions.  Huntsman and Lubrizol have been some of the key companies that have been active in terms of developments globally in TPU market.


Key Developments

  • In January, 2020, Lubrizol launched new thermoplastic polyurethane (TPU) ESTANE 3D TPU M95A, which is the only TPU, certified for HP’s Multi Jet Fusion 4200 series 3D printing solution. The release of ESTANE® 3D TPU M95A will allow Lubrizol’s customers to effectively target a variety of commercial TPU applications with an advanced additive manufacturing technology. Applications for the new material include footwear and prostheses (lightweight performance through lattice structures, optimized for cushioning applications), wearables (skin contact certification pending), seals (oil resistance) and a wide variety of industrial applications.
  • In October, 2019, Wanhua Chemical launched high-quality and highly flexible 3D printing materials which include WANFAB® TPU Filament, WANFAB® TPU Powder, WANFAB® Waterborne Coating and Adwel® Waterborne Adhesive for the 3D Printed Shoe-Material Solution. This development will help Wanhua to acquire a greater market share in 3D printing material market, globally.
  • In September, 2019, Huntsman Corporation has opened a new Polyurethanes Systems House in dubai. The facility will manufacture polyurethane foams for construction, insulation, appliances, bedding, and furniture applications. It will also produce systems for the footwear industry and prepolymers for coatings, adhesives, sealants and elastomers applications. The expansion will help to strengthen Huntsman's downstream capabilities in the Middle East and North Africa while increasing its capacity to produce polyurethane systems and polyester polyols for customers across the region.


US Thermoplastic Polyurethane Market – DROC Analysis

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