THERMOPLASTIC POLYURETHANE (TPU) FILMS MARKET ANALYSIS

Regional Analysis

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North America has been the dominant region in the TPU films market, accounting for over 33.3% of global demand in 2024. Several factors have contributed to North America's leading position. These factors include a large automotive industry which is the biggest end-user of TPU films, reliance on lighter weight materials to improve vehicle fuel efficiency, and automakers pushing for more content per vehicle. Additionally, the presence of major TPU films producers like BASF SE and Lubrizol with production facilities in the U.S. and Canada ensures strong supply availability and competitive pricing for converters and OEMs. However, the threat of China's exports gaining market share remains a challenge for North American TPU films manufacturers.

The Asia Pacific region has emerged as the fastest growing market for TPU films in recent years. Countries like China, India, Japan, and South Korea have seen expanding applications in key end-use sectors like footwear, consumer goods, and medical devices. This strong growth potential can be attributed to rising disposable incomes fueling the consumption demand as well as a shift of manufacturing bases to Asia Pacific from developed markets. In China specifically, TPU film producers have flourished to meet the needs of burgeoning domestic industries while also becoming major exporters globally. Chinese TPU films companies are able to aggressively price exports by leveraging economies of scale from large capacity additions over the past decade. Their strong foothold in automotive and electronics applications across Asia Pacific and Europe positions China as an extremely competitive force in the TPU films landscape.