New York, Sept. 11, 2019 (GLOBE NEWSWIRE) — The growing population and rising disposable income coupled with high demand from the textile industry is driving the PU Films market.
The global Polyurethane (PU) Films market is forecast to reach USD 872.3 Million by 2026, according to a new report by Reports and Data. PU films have several applications in healthcare, automotive, aerospace, and other industries. A rise in the demand for luxury cars over the last decade has propelled the growth of the market. Growing purchasing power and a rise in disposable income have also pushed the market’s growth.
PU films have great tensile strength and low-temperature flexibility which makes them suitable for a variety of applications. They are also highly cost-efficient and easy to process, which in turn increases the demand from the textile industry. Increasing demand from the automotive sector is also fueling the market demand.
PU films are a perfect substitute for metal components in aircraft, which is a very lucrative market, thus providing PU films an opportunity to grow. The high tensile strength also makes it applicable in the construction sector. These films provide microbial resistance which lead to tremendous demand from the diagnostics sector. They are extensively used in surgical applications, patients care, and laboratories.
North America held a market share of 28.6% in the year 2018. Increased agricultural production in countries such as the U.S. and Mexico are propelling market growth. The region has a significant number of aerospace manufacturers which adds to the growth of the market. Increasing use of applications such as identification tags of animal are further expected to boost the market growth.
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Further key findings from the report suggest
- Polyester PU Films held the larger market share of 67.4% in the year 2018. It provides excellent strength and long term durability. Polyester PU Films act as an adhesive and can be used for textile labeling, emblems in industrial laundry, and ID systems applications.
- Polyester PU Films can also be used as a protective layer to impede the scratching of delicate parts in a machine shop and metal bending applications. Other applications of polyester PU films include polyester polyurethane fuel bladders and pneumatic bladders
- Thermoplastic-Based PU Films are forecasted to grow with a CAGR of 8.5% during the forecast period. It is a flexible film with high elongation and properties and characteristics that are superior to polyolefinic films. It is used for more demanding film applications.
- The textile industry held the largest market share of 31.7% in the year 2018. The rising number of applications of PU Films in the manufacturing of textiles is expected to drive the demand of the market. TPU films are very extensible and tear resistance and are used to manufacture industrial fabric which finds its application in the construction industry.
- Europe is forecasted to hold a market share of 21.9% in the year 2026. Increasing car sales in the region along with the growing demand for electric vehicles with headquarters of many luxury car companies, such as Mercedes, Audi, and BMW, in the region are boosting the market growth. These companies are witnessing a rise in demand owing to the high demand for luxury cars across the globe.
- Key participants Covestro, 3M, Dunmore, SWM International, Permali, Par Group, Avery Dennison, Novotex Italiana, Dingzing Advanced Materials, and Coveris Advanced Coatings, among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Polyurethane (PU) Films market on the basis of type, function, end-use industry, and region:
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Polyester PU Films
- Polyether PU Films
Function Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-202626)
- Thermoplastic-Based PU Films
- Thermoset-Based PU Films
End-Use Industry Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Automotive and Aerospace
Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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