The Thermoplastic Polyurethane Market size is estimated at USD 2.86 billion in 2024, and is expected to reach USD 3.99 billion by 2029, growing at a CAGR of 6.86% during the forecast period (2024-2029).
During the Covid-19 pandemic, the demand for TPU declined heavily as TPU is majorly used in consumer products. The unfavorable macroeconomics affected people's finances and reduced purchasing power, negatively affecting the TPU demand. The supply chain restrictions further compounded the decline. However, as the restrictions eased, the demand returned to pre-pandemic levels in 2021.
The global thermoplastic polyurethane market is consolidated, with the top five players accounting for major shares of the market studied. Some major players in the market include BASF SE, Covestro AG, The Lubrizol Corporation, Huntsman International LLC, and Wanhua Chemical Group Co. Ltd.
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