Flexible Innovations: Insights into the Thermoplastic Polyurethane Market

As per a report by P&S Intelligence, the thermoplastic polyurethane (TPU) market generated a value of USD 3,100 million in 2022, and it will touch USD 5,326 million, advancing at 7.0% CAGR, by 2030.

The growth in this industry is mainly credited to the widespread adoption of TPU in numerous applications, for instance, medical devices, wound care products, and automobile parts.

Thermoplastic Polyurethane Market Size and Share Analysis Report@ https://www.psmarketresearch.com/market-analysis/thermoplastic-polyurethane-market

In 2022, the footwear category held the largest industry share, and it will remain the largest throughout this decade. This is primarily because polyurethane is highly required in the industry of footwear, because of its customization options and cost-effectiveness.

The medicinal industry provides numerous opportunities to the manufacturers of thermoplastic polyurethane as it is a renowned material in this sector and can be implemented in numerous medicinal applications and healthcare products, for instance, wound care products, orthodontic products, dental materials, healthcare mattresses, medical instrument cables, gel shoe orthotics, compression stockings, and catheters.

In 2022, the polyester category accounted for the largest thermoplastic polyurethane (TPU) market revenue share, and it will maintain its position in the years to come. This is because of the mounting requirement for polyester in the textile, automobile, and construction industries as it offers extreme transparency.

In 2022, the diisocyanate category held the largest share, and it will remain the largest throughout this decade. This is primarily because this raw material is extensively used, because of its highly reactive nature with polyols, in polyurethane formation.