The thermoplastic polyurethane (TPU) elastomers market size was valued at USD 2.5 billion in 2021 and is expected to reach a value of USD 3.9 billion by 2028, growing at a CAGR of 6.6% during the forecast period 2022 to 2028. The global market report provides a detailed overview of the market, which can be segmented by type and application. By type, the Thermoplastic Polyurethane (TPU) Elastomers market has been segmented into Polyester- Based TPU and Polyether- Based TPU. The Polyester- Based segment is likely to be the largest and fastest-growing in terms of both types. The Thermoplastic Polyurethane (TPU) Elastomers market is segmented into Automotive, Footwear and Sporting Goods, Building and Construction, Wires and Cables, Medical Products, Electrics and Appliances, and Others. According to precision business insights, the Footwear and Sporting Goods segment is predicted to register the fastest growth rate during the forecast period.
In January 2019, Lubrizol International, Inc., a U.S.-based specialty chemical company, acquired the TPU business from The Dow Chemical Company, one of the leading chemical companies based in the U.S.