Synthetic and Bio Thermoplastic Polyurethane (TPU) Films Market is expected to gain considerable traction in the polymers and advanced materials domain over 2022-2028. Future trends and developments in the market can be tied to increasing construction activities globally and robust demand in automotive and aerospace applications.
TPU films offer high elongation along with superior properties and characteristics compared to other types of polymeric films. These include high strength, flexibility, toughness, and easy application, which make it an excellent choice in demanding film applications. Moreover, bio TPU films are free of plasticizers, do not lose performance over time, and won’t become brittle. These films also exhibit exceptional abrasion resistance, dynamic flex performance, and tear strength.
Synthetic TPU films offer possess high chemical resistance and inertness, making them suitable for packaging applications under regulatory standards. The material is available in a variety of forms in terms of thickness, width, and properties tailored to meet the specific requirements of end-use industry.
Automotive applications are expected to dominate synthetic and bio TPU films industry trends through 2028. Vehicles are rapidly progressing towards higher fuel efficiency and lower weight. TPU films, on account of their superior physical characteristics, durability, and light weight, are experiencing robust demand in components. The material promises to offer high-performance at low cost, making it a material of choice among automakers. As a result, these films are being increasingly incorporated in luxury vehicles, sports cars, as well as other passenger and commercial vehicle parts.
Europe is anticipated to be one of the largest markets for synthetic and bio TPU films by the year 2028, with rapid growth in the automotive sector. The region is home to some of the world’s most esteemed carmakers including Audi, BMW, Daimler, Mercedes-Benz, Volkswagen, and others. With a notable uptick in disposable incomes of consumers, the demand for luxury passenger vehicles has increased tenfold over the years. Ongoing efforts by automakers to boost vehicle performance, efficiency, and lower weight will certainly boost the regional demand for TPU films.
Globally, 3M Company, BASF, Covestro, Huntsman Corporation, PAR Group, MH & W International, Nippon Polyurethane Industry Co., Ltd., Lubrizol, Avery Dennison, and Permali Gloucester are among the key producers of synthetic and bio TPU films. These companies are adopting numerous strategies to fuel their growth and expansion plans and address the growing market demand.
The strategies include capacity expansion, R&D, and product innovation. The need for sustainable production is encouraging manufacturers to adopt new manufacturing approaches and technologies. For instance, in November 2020, Covestro had presented polymer-based products made from alternative raw materials, such as partially biobased TPU films, to contribute towards making the 3D printing industry more circular.
Manufacturers of polymers and advanced materials continued to witness a weakened demand during a major part of 2020 due to decline in automotive and aerospace production and halt in major construction projects amid the worsening COVID-19 situation. Supply chain and logistic disruption has posed numerous roadblocks including declined raw material availability for TPU film suppliers, some of which also faced shortage of workforce. Numerous manufacturers had been forced to temporarily shut down operations due to government restrictions to curb spread of the coronavirus.
However, automotive and aircraft production is starting to return to normal as numerous manufacturers ramp up production. For instance, in June 2021, aerospace giant Airbus announced plans to ramp production its A320 aircraft fleet by up to 60% by 2023 in anticipation of a strong aviation recovery. In addition, construction and infrastructure projects that had been halted or postponed during the pandemic are expected to resume in the near future, presenting new growth opportunities for the synthetic and bio TPU films market in 2022 and beyond.