The global TPU films market is expected to reach USD 724.6
million by 2020, according to a new study by Grand View Research, Inc.
Automotive applications dominated the TPU films market, with demand estimated
at 11,622.1 tons in 2013. Increasing use of TPU films in automotive
applications such as paint protection, scratch protection, anti-chipping and
rear bumper protection coupled with growing after sales market is expected to
fuel market growth.
Asia Pacific emerged as the largest regional TPU films
market, with demand estimated at 16,299 tons in 2013. Growth of automotive
industry coupled with increasing application of TPU films in sports goods and
construction is expected to drive the market growth over the next six years, at
an estimated CAGR of 7.8% from 2014 to 2020. Furthermore, lower TPU film prices
in Asia Pacific compared to other regional markets may also complement market
growth.
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Further key findings from the study suggest:
- Global TPU films market demand was 46,769.1 tons in 2013 and is expected to reach 68,033.1 tons by 2020, growing at a CAGR of 5.5% from 2014 to 2020.
- Aerospace is expected to be the fastest growing application segment, at an estimated CAGR of 6.6% from 2014 to 2020.
- North America and Europe accounted for over 27% and 19% of the total market volume in 2013, respectively. Increasing use of TPU films in automotive and construction applications is expected to drive the market growth in these regions.
- China and India dominated the TPU films market in Asia Pacific and accounted for over 60% of the market volume in 2013.
- Japan TPU films demand was estimated at 3,685.4 tons in 2013 and is expected to grow at an estimated CAGR of 4.9% from 2014 to 2020.
- The global TPU films market is highly fragmented with the top four companies including Bayer Material Science, Huntsman, 3M and Permali Gloucester Limited, accounting for just over 40% of the market in 2013. Other companies in the market include American Polyfilm Inc., PAR Group, Nippon, Lubrizol and Avery Dennison.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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