September 16, 2019 by Amanpreet
The global thermoplastic polyurethane elastomers market surpassed US$ 2.5 billion in 2018, and a new study by Fact.MR estimates revenues to grow at 5.4% in 2019. According to the study, increasing demand for TPU elastomers in emerging economies of Asia Pacific excluding Japan (APEJ) continues to create sizeable opportunities for manufacturers. APEJ continues to hold over 50% share of TPU elastomers globally.
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The study finds that although TPU elastomers have been witnessing incremental demand across versatile industrial applications, meeting the evolving sustainability requirements continues to be a challenge for stakeholders. Negative impacts of thermoplastics on the environment have been restricting manufacturers from exploring new niche applications. Thereby, leading stakeholders in the TPU elastomers market have been focusing on innovating their manufacturing strategies and technologies to discover biocompatible and biostable TPU elastomers. According to the study, the focus on finding sustainable solutions is also driven by stringency in environmental regulations. In many countries of APEJ, environmental regulations have become more stringent over the years, and manufacturers have had to adapt to the changing status-quo.
In March 2019, Lubrizol International, Inc. announced the launch of a new, toluene-free Pearlbond™ TPU for films and adhesives, to expand its high-melt strength Pearlbond TPU portfolio. Toluene exposure can have hazardous impact on the environment as well human health. The company announced that the new Pearlbond TPU is toluene-free and recyclable, thereby environment-friendly, and it can be used in various applications such as furniture, footwear, automotive films, and apparels.
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