Expanded Thermoplastic Polyurethane Market Introduction
Properties offered by expanded thermoplastic polyurethane are a combination of the properties of thermoplastic polyurethane and foam. Expanded thermoplastic polyurethane is a highly elastic material with low density and excellent resilience and high abrasion resistance. Some of the key features of expanded thermoplastic polyurethane are high tensile strength, high resistance to chemicals and good long-term durability at wide temperature ranges. Owing to these properties, expanded thermoplastic polyurethanes are used in various applications, such as bicycle tires, floor coverings for playgrounds and running tracks, cushioning elements, vibration decoupling in vehicles, shoes manufacturing, as a buffer in industrial linkages and dunnage trays, among other applications.
Since the expanded thermoplastic polyurethanes are in the introduction phase in the market, the demand for expanded thermoplastic polyurethanes is expected to rise in the coming years. Manufacturers are focused on development of expanded thermoplastic polyurethanes for newer application areas.
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The growth of the expanded thermoplastic polyurethanes is expected to be driven by the growing automotive industry. Growth in sales of sports and leisure goods owing to the growing influence of global sport events is expected to upsurge the expanded thermoplastic polyurethane demand in near future. Growth in the leather industry is expected to boost expanded thermoplastic polyurethane sales for shoe manufacturing applications.
Advanced features, such as light weight and high elasticity imparted by the expanded thermoplastic polyurethanes, are expected to create a strong platform for the growth of the market in the coming years. Manufacturers involved in the expanded thermoplastic polyurethanes market are focusing on innovation and bringing advancements in their offerings. The manufacturers in the expanded thermoplastic polyurethanes are very few and thus, the cost of the expanded thermoplastic polyurethanes is controlled by only a handful manufacturers. This is expected to have a deep impact on the growth of the market during the forecast period.
Expanded thermoplastic polyurethanes are expected to witness steady growth in the North America region owing to increasing demand from the growing automotive industry in the region. Europe holds significant share in the leather industry owing to the well-established leather industries in Italy, Spain and France. The growth of leather and automotive industries in Europe is expected to upsurge the demand for expanded thermoplastic polyurethanes in the region. Middle East and Africa region is expected to register sound growth owing to the growing automotive industry and increasing demand for the sports and leisure goods in the region.
Latin America has reported steady growth in the automotive industry in recent years, owing to which, the expanded thermoplastic polyurethane market is expected to grow at a decent pace in the region. APAC region is expected to provide lucrative opportunities for growth to expanded thermoplastic manufacturers owing to economical raw material and labor costs. Increasing production of leather goods in India is the key driver for the growth of leather industry in APAC region. Additionally, increasing production of automotive vehicles in China and India has led to the growth of automotive industry in the region. The growth of these industries in APAC is expected to create a platform and boost the sales of expanded thermoplastic polyurethane in near future. Moreover, leather and automotive industries in Japan are growing moderately, which in turn, is expected to keep the demand for expanded thermoplastic polyurethane high in near future.
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List of Participants
Some of the participants involved in this market are listed below:
The Lubrizol Corporation
The Dow Chemical Company
Sunko Ink Co., Ltd
HSV Moulded Foams Group
IMG Plastec LLC
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