The global market for TPU films is expected to reach USD 624.6 million by 2018, according to a new market research report by Grand View Research, Inc. Positive outlook on the automotive industry, especially in Asia Pacific is expected to be a key driving force for the market. Grand View Research also observes that growth in application markets such as construction, railways, leisure, furniture and energy is anticipated to have a domino effect on TPU films demand over the next five years.
Automotive applications accounted for a bulk of TPU film consumption in 2012, with 25% of overall volume share. Film demand for building and construction, another key product avenue, is expected to reach USD 75.8 million by 2018, growing at a CAGR of 7.6% from 2013 to 2018. Leisure and sports, along with furniture applications are expected to offer promising growth opportunities for market participants in the near future. Pricing issues, coupled with higher availability of cheaper substitutes is expected to present a challenge for participants, in terms of product penetration.
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Further Key findings from the study suggest:
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