London, 02 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Thermoplastic Polyurethane Market 2015-2019, which is expected to grow at a CAGR of 5.19 percent and 4.56 percent in terms of revenue and volume, respectively during the period 2014-2019.
Thermoplastic polyurethanes are biodegradable and can be recycled easily, thereby supporting the eco-friendly environment. The growing awareness toward a greener environment and the increased focus toward an eco-friendly environment and sustainable products are expected to open up huge opportunities in the Global Thermoplastic Polyurethane market during the forecast period. Moreover, the stringent rule by governments worldwide regarding the use of biodegradable materials boosts the demand for thermoplastic polyurethane.
“Manufacturers are investing heavily in the R&D of thermoplastic polyurethane. This huge R&D investment for the further enhancement of thermoplastic polyurethane is expected to increase the efficiency of thermoplastic polyurethane, and hence increase its demand further from end-users,” says Faisal Ghaus, Vice President of TechNavio.
“There has been a constant innovation and development of new and improved products as the growth in the Global Thermoplastic Polyurethane market requires continuous improvement and development of new technologies.”
Key Market Drivers
- Increased Demand from Automotive Industry
- Recyclability of Thermoplastic Polyurethane
- Potential to Replace PVC in Medical Applications
Key Market Trends
- Increased Investment in R&D
- Shift in Focus toward Bio-based Thermoplastic Polyurethane
- Demand from Electronics Industry
Key Market Vendors
- Bayer MaterialScience
- Hexpol
- Lubrizol Corp.
- Wanhua Chemical Group Co. Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
