Polyurethane PU Films Market Share Will Take a Big Hit in the Coming Years


Posted February 4, 2021 by armaan007

Polyurethane PU Films Market expected to be valued at USD 688.6 Million by 2023, at a CAGR of 8.9%, during 2018–2023

 
The report "PU Films Market by Type (Polyether PU films and Polyester PU Films), Function (Thermoplastic-based PU films and Thermoset-based PU films), End-Use Industry (Textile & Leisure, Automotive & Aerospace, and Medical), and Region - Global Forecast to 2023", The PU films market is projected to grow from USD 449.0 million in 2018 to USD 688.6 million by 2023, at a CAGR of 8.9% during the forecast period. The growth of the PU films market can be attributed to the rising demand for passenger vehicles and luxury cars worldwide. Also, the growing concerns regarding health and hygiene increased the medical & healthcare expenditure worldwide, which is favorable for the growth of the PU films market.

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Browse 70 market data Tables and 37 Figures spread through 106 Pages and in-depth TOC on "PU Films Market”

Key Target Audience:

Manufacturers of PU films
Traders, distributors, and suppliers of PU films
Automotive OEMs
Government & regional agencies and research organizations
Investment research firms
Growing demand for passenger vehicles and luxury cars is projected to lead the PU films market during the forecast period.

PU films are mainly used in luxury cars in the automotive industry. Owing to the increase in disposable income and purchasing power, the demand for luxury cars has increased over the past five years. The sale of luxury cars has increased globally by 17% in 2017 over the previous year. From the beginning of 2018, the sales of top 2 luxury car manufacturers, namely, BMW and Mercedes-Benz have increased by 13.0% and 12.0%, respectively. Also, Jaguar Land Rover and Volvo have posted growths of 66.0% and 33%, respectively, since January 2018. This overall growth is driving the PU films market in the automotive industry, globally.

Polyester PU films is the largest and projected to be the fastest-growing type segment of the PU films market.

The polyester PU films type segment of the PU films market is projected to grow at a higher CAGR between 2018 and 2023. The growth of the polyester PU films segment can be attributed to its lower cost than that of polyether PU films and its high demand in the textile & leisure industry.

https://www.prnewswire.com/news-releases/pu-films-market-worth-688-6-million-by-2023-816682703.html

APAC to be the fastest-growing regional segment of the PU films market.

The APAC region is projected to be the fastest-growing market for PU films. The growth of the APAC PU films market can be attributed to the presence of large textile exporting industries in countries, such as India, China, and South Korea. Additionally, the increasing demand for luxury and premium cars is expected to drive the growth of the APAC PU films market during the forecast period.

The key players operating in the PU films market include Covestro (Germany), SWM International (US), 3M Company (US), Avery Dennison (US), and DingZing Advanced Materials (Taiwan). These leading players have adopted various growth strategies such as new product launches, acquisitions, mergers, expansions, partnerships, and joint ventures to strengthen their position in the PU films market and widen their customer base. For instance, in 2018, Covestro announced to expand its films production capacity at four locations, namely, Thailand, the US, China, and Germany. This expansion is intended to meet the growing demand for films in these markets. The company is planning to invest more than USD 116 million at these locations.

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Issued By Markets And Markets
Country India
Categories Automotive , Energy , Industry
Tags pu film , pu film market , pu film industry , pu film manufacturers , polyurethane film , polyurethane film market , polyurethane film industry , polyurethane film manufacturers
Last Updated February 4, 2021