The thermoplastic polyurethane (TPU) market is projected to reach USD 2.48 Billion by 2021, at a CAGR of 6.8% between 2016 and 2021, in terms of value. The market has witnessed moderate growth in the recent years and this growth is projected to persist in the coming years as well. Thermoplastic polyurethane offers properties, such as outstanding abrasion resistance, excellent low temperature flexibility, and high oil resistance, owing to which it is used in a wide range of end-use industries, such as automotive, medical, wires & cables, engineering, building & construction, hose & tubing, and footwear.
Polyurethane elastomers are the main producer and consumer markets in China, Europe and the United States. It is expected that the Asia-Pacific region will continue to lead the polyurethane elastomer industry from 2014 to 2020.
Polyurethane elastomers are classified into two broad categories: thermosetting elastomers and thermoplastic elastomers. The market share of thermosetting elastomers is the largest, at about 75%. From a global perspective, more than one-third of polyurethane elastomers are used to produce shoes Category, the rest of the main applications are furniture, interior decoration and the automotive industry.