Thermoplastic Polyurethane Films Market Size, Share & Trends Analysis Report By Type (Polyether, Polyester, Polycaprolactone), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global thermoplastic polyurethane films market size was valued at USD 386.93 million in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. Thermoplastic polyurethane (TPU) film is a versatile substrate that is made to order for performance applications. Its adaptability is partly due to the wide range of base chemical classes. It can be extruded with polyester, polyether, or polycaprolactone. The global demand for TPU films has seen an upswing during the last two years, owing to a period of stability in the automotive industry. Key automotive applications of TPU films include exterior applications such as paint protection, scratch protection, anti-stone chipping, cowl protection, and rear bumper protection.

TPU films are being increasingly used as an alternative to rubber and traditional plastic materials in the automotive industry. The global demand for automobiles reached 80.14 million units in 2021, which was an increase of 3.13% over the 2020 demand. TPU films are also being increasingly used in the furniture industry to upsurge resistance to UV light exposure.

Owing to their excellent gas permeability, TPU films are becoming the material of choice for leisure sports product manufacturers, which is expected to be a key application for market participants in the near future. The use of TPU films offers excellent protection for leisure sports products in different weather conditions.

The leisure sports industry in North America and Europe has reached a state of maturity. However, strong economic development in the Asia Pacific region has resulted in an increase in disposable income. This is expected to cause growth in the leisure sports industry within the region, which in turn is expected to trigger demand for TPU films.

According to the World Bank Group, the U.S. exhibited significant GDP growth of 5.9% in 2021 owing to high export volumes. Moreover, the signing of the U.S.–Canada–Mexico Agreement in 2018 led to further auto tariff exemptions for the U.S. and Canada. This increased manufacturing of automobile products in the country, thereby impacting demand for the TPU films developed from thermoplastic polyurethane during the forecast period.

In Canada, under the Green Infrastructure program, the government has announced its plan to invest approximately USD 481.0 million for the deployment projects in Canada related to four streams, namely, renewables, electric vehicle infrastructures, smart grids, and reduced diesel usage in rural and remote communities. All these investments are expected to increase demand for electric vehicles, solar panels, wind turbines, and electric & electronic equipment in the country in the coming years that use paint protection films. This, in turn, is anticipated to make possible the growth of the market for these films in Canada from 2022 to 2030.

Type Insights

Based on type, global market is bifurcated into polyether, polyester, and polycaprolactone. Among these, the polyether segment accounted for the major share of the market and is anticipated to maintain its attractiveness during the forecast period. Compared to polyester or polycaprolactone films, polyether TPU films have the lowest specific gravity and are gentler to the touch. These films are frequently employed in a wide range of products, including blood pressure cuffs, infusion bags, and surgical gowns. High UV stability, low-temperature flexibility, body oil resistance, and moisture resistance are all characteristics of polyether TPU films.

Polyester TPU films are suitable for a range of laminates because they work well with polar plastics like polyvinyl chloride (PVC). Industrial aprons, conveyor belts, fabric laminates, geld pads, and medical packaging is the common places to find these films. Excellent fungus resistance, abrasion resistance, strength and durability, and oil and chemical resistance are all characteristics of polyester TPU film.

Application Insights

Based on the application thermoplastic polyurethane(TPU) films market is segmented into automotive, railways, leisure & sports, energy, building & construction, furniture, aerospace, and others applications. The automotive segment accounted for the major share of the market in 2022. Increasing use of TPU films in automotive components such as instrument panels, levers and sensors is expected to drive the market growth in automotive applications.

TPU films are widely used in the aerospace industry for armrest surfaces, interior panels, seat cushions, masks, and aircraft wire & cable jacketing. The growing aviation sector due to technological advancements and increasing use of thermoplastics in aircraft is expected to drive the thermoplastic polyurethane (TPU) films market during the forecast period.

Polyester-based TPU film can withstand higher temperatures and is, therefore, a better choice for applications used in hot climates or high-heat conditions. The use of TPU films offers excellent surface protection for solar panels and windmill blades. The future demand for TPU films in energy applications is expected to stem from an increase in the installation of windmills and solar panels across the globe.

Low temperature flexibility refers to the ability to withstand the harshness of subzero environments, where materials often become brittle and crack. For extremely low temperatures, polyether-based TPU film provides a better solution than polyester-based TPU film. The use of TPU films on the surface of airplanes and helicopters makes them wear and tear resistant to adverse weather conditions.

Regional Insights

Asia Pacific dominated the thermoplastic polyurethane (TPU) films market and accounted for more than 32.0% share of the global revenue in 2022. The Asia Pacific TPU film market is projected to witness significant growth in the coming years owing to the increasing automotive and railway infrastructure sector. The climatic conditions in Asia Pacific vary from country to country. The region experiences severe winters, rainfall, and dry seasons, which can affect the paint of the vehicles.

Moreover, the roads in most of the countries of the region are not well maintained, leading to road debris that can scratch and damage the paint of the automobiles. These factors lead to the risen demand for paint protection films in the Asia Pacific, thereby fueling the growth of the market for them.

The TPU film market in Central & South America is expected to witness significant growth owing to the increasing industrial investments in the building & construction and automotive sector. Brazil is the leader in Central & South America, in terms of automobile production. According to the statistics by OICA, the country was the eighth-largest automobile producer in the world in 2021.

Although majority of the cars manufactured in Brazil are used locally, some are exported to other countries. According to OICA, 2,248,253 vehicles were sold in the country in 2021 compared to 2,014,055 vehicles sold in 2020. Brazil is expected to witness substantial growth due to the increasing demand for trucks and buses.

Growing demand from automotive sector, rise in defense budgets of the various countries, and increase in demand from the electronics industry are the major factors influencing the paint protection films market in the Middle East & Africa. Furthermore, the rise in automotive sales, which can be attributed to the developed economic conditions, and rising awareness regarding the benefits offered by the product are anticipated to provide new momentum to the market growth in the region. However, the high installation cost is expected to hamper the market growth.

Key Companies & Market Share Insights

The market is fragmented across the globe as many small manufacturers are trying to enter the market with new production technology. Competition between companies is completely based on the product quality offered and the latest technology & innovation implemented in the production of films. The production base for most of the thermoplastic polyurethane films is majorly concentrated in North America and the Asia Pacific region. Thus, manufacturers from Europe have to plan and optimize their raw material procurement keeping in mind the financial and regional viability.

Companies are investing huge amounts in new product launches, merger & acquisitions, and R&D activities along with innovation in order to gain competitive advantage. For example, on August 30, 2022, RODIM, a brand of BASF SE, launched its new invisible thermoplastic polyurethane (TPU) paint protection film (PPF) in Asia Pacific. It provides multifaceted and long-lasting protection for automotive coatings. Some of the prominent companies in the global thermoplastic polyurethane films market include:

• PAR Group

• BASF SE

• The Lubrizol Corporation

• American Polyfilm Inc.

• 3M

• Avery Dennison

• MH&W International Corporation

• Plastic Film Corporation

• Perfectex Plus LLC.

• Permali Gloucester Limited

• Bayer Material Science

• Huntsman Corporation

Thermoplastic Polyurethane Films Market Report Scope

Global Thermoplastic Polyurethane Films Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global thermoplastic polyurethane films market report based on type, application, and region:

• Type Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Polyether

  • Polyester

  • Polycaprolactone

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Automotive

  • Railway

  • Leisure

  • Energy

  • Building & Construction

  • Furniture

  • Aerospace

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Southeast Asia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • South Africa