Product launches, company expansion, the rapid growth of the automotive, aerospace, and textile industry, and technological advancement are key factors contributing to high CAGR of the PU Films market during the forecast period.
According to the current analysis of Reports and Data, the PU Films Market has an estimated value of USD 565.3 Million as of 2020 and with a CAGR of 8.3% is projected to reach USD 1,076.9 Million by 2028. The market is mainly driven by the expanding automobile market and the rise in consumption of PU films by the industry due to various advantages it offers like as water, chemical, puncture, abrasion and tear resistance, high resilience, and cool temperature resistance.
The market is segmented on type, function, and end-use industry. Based on the region, the market is divided into North America, Europe, Asia-Pacific, the Middle East Africa, and Latin America. The Asia Pacific and North America were the largest revenue-generating markets for the review period.
PU Films is a strong product and generally referred to as PU Polyurethane Film, Urethane Film, and TPU Thermoplastic Polyurethane. Due to its resistance to moisture, chemical, and overall strength, it finds application to several industries, including construction, automobile, aerospace, textile, healthcare, and others. The coating is the process of applying single or multilayer of a specific compound onto a surface. Polyurethane has been used in coatings for their compressive and thermal behavior, structure designing, and other aspects. PU film coatings of textiles are designed to improve functional properties of materials and to create specific properties. PU Polyurethane Film has become an important aspect of manufacturing advanced substrates for its better adhesion between the substrate, corrosion resistance, wet-ability, wear tear, and many other properties.
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Top Companies Profiled In The Report: Covestro AG (Germany), SWM International (US), 3M Company (US), Avery Dennison Corporation (US), Dingzing Advanced Materials Inc. (Taiwan), MHW International Corporation (US), PAR Group (UK), And RTP Company (US).
Further key findings from the report suggest
PU Films market is growing at a CAGR of 9.8% in the Asia Pacific, followed by North America and Europe, with 8.6 % and 8.7% CAGR, respectively. Rising demand for luxury cars and passenger cars across the globe is the key factor to accelerate market growth during the forecast period across all regions.
As of 2020, the polyester PU films type segment is the dominating pruritus therapeutics which holds 41.4% of the global market.
The automotive sector held the highest market share of 22.7% in 2020. Textiles leisure is expected to be the fastest-growing market segment during the forecast period 2019-2028 with a CAGR of 8.4%.
North America held a is the highest revenue generator holding a market revenue share of 32.24% in 2020 due to the presence of multiple leading aerospace and component manufacturers in the region.
Europe held a 22.3% share of the global PU films market in 2020, due to the increasing luxury car sales of leading car companies like Audi and BMW in the region.
Various limitations like higher costs, availability of cheaper substitutes, low penetration of foam material, and CO2 emissions is likely to hinder the market growth during the forecast period.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest Of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest Of APAC)
- Latin America (Chile, Brazil, Argentina, Rest Of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest Of MEA)
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Market Segmentation:
Product Type (Revenue In USD Million; Volume In Tons, 2020-2028)
Polyether
Polyester
Function Outlook (Revenue In USD Million; Volume In Tons, 2020-2028)
Thermoplastic Based
Thermoset Based
End-Use Outlook (Revenue In USD Million; Volume In Tons, 2020-2028)
Automotive
Textile Leisure
Aerospace
Medical
Construction
Others
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Table Of Contents:
Report Overview
1.1 Research Scope
1.2 Key Polyurethane (PU) Films Market Segments
1.3 Major Players
1.4 Market Analysis By Product Type
1.5 Market Analysis By Application
1.6 Report Timeline
Global Growth Trends
2.1 Global Polyurethane (PU) Films Market Size
2.2 Latest Regional Market Trends
2.3 Emerging Growth Trends
Competitive Outlook
3.1 Global Polyurethane (PU) Films Market Key Players
3.2 Global Polyurethane (PU) Films Size By Manufacturers
3.3 Products Of Major Players
3.4 Entry Barriers In The Polyurethane (PU) Films Market
3.5 Mergers, Acquisitions, Joint Ventures, And Other Strategic Alliances
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