Polyurethane (Pu) Film Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Polyurethane (Pu) Film Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The market for polyurethane (PU) films is expected to register a CAGR of over 6.75% during the forecast period (2022-2027).

The polyurethane (PU) Films market was affected negatively by the COVID-19 pandemic, but the market has now been estimated to be at pre-pandemic levels and is expected to grow at a steady pace.

• The major factor driving the growth of the market is the increasing usage in the footwear and apparel industry.
• On the flip side, the rising prices of raw materials are expected to impact the growth of the market during the coming years.
• Polyester-type PU films are expected to dominate the market owing to their key properties, including improved UV stability, good low-temperature performance, high elasticity, high recovery, and rubber-like feel.
• The Asia-Pacific region is expected to be the largest market for polyurethane (PU) films.

• TPUs (thermoplastic polyurethanes) are extremely durable and flexible plastics. The abrasion resistance, shock absorption, grip on slick surfaces, and low weight of this high-quality material are unrivaled.
• Foamed TPU film is ideal for use as a non-slip, wear-resistant protective covering for the outside of shoes, including safety shoes, alpine boots, and hiking boots.
• TPU keeps its unique qualities even when wet, making it a popular material for orthopedic insoles.
• According to the Portuguese Footwear Components and Leather Goods Manufacturers Association (APICCAPS), in 2020, 20.5 billion pairs of footwear were projected to be produced globally.
• The footwear industry is growing at a moderate level across the world. Many major footwear companies are shifting their manufacturing facilities to Asia due to the availability of cheap labor and the increasing demand in developing countries of the Asia-Pacific.

• The Asia-Pacific region holds a prominent share in the TPU film market globally and is expected to dominate the market during the period of forecast.
• Asia-Pacific has the largest construction market, which is led by India, China, and various Southeast Asian countries.
• The total revenue of the footwear market from the Asia-Pacific region is projected to register a CAGR of 4.9% during the forecast timeline.
• China dominates the global footwear industry and is the world’s largest manufacturer and biggest exporter. China exported nearly 7.9 billion pairs of shoes and boots in the first 11 months of 2021. The footwear industry faced a major decline in the past years. However, the industry is projected to grow at a faster rate during the forecast period.
• India’s textiles sector is one of the oldest industries in the Indian economy. The industry is extremely varied and consists of hand-spun and hand-woven textiles sectors and also capital-intensive sophisticated mills sector.
• The exports of textiles stood at USD 22.89 billion between April 2021 and October 2021. According to India Brand Equity Foundation (IBEF), the textile industry in the country is expected to reach USD 209 billion by 2029.
• Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.

The polyurethane (PU) film market is consolidated. Some of the players in the market (in no particular order) include Covestro AG, SWM, Gerlinger Industries GmbH, DingZing Advanced Materials Inc., and Okura Industrial Co. Ltd.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support