Polyurethane PU Films Market - Emerging Trends & Global Future Forecasts - Exclusive Report by MarketsandMarkets™

 The Polyurethane 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. It is segmented into two types, namely, polyester PU films and polyether PU films. The market is also segmented on the basis of function—thermoset-based PU films and thermoplastic-based PU films. These films are mainly manufactured through the process of extrusion and die-casting. PU films have wide applications in various end-use industries such as automotive & aerospace, medical, and textile & leisure. The demand for PU films is mainly driven by the textile & leisure industry for applications such as fabric lamination, blackout & sealing tapes, and fabric coating. In the automotive industry, it is mainly used for the paint protection application.

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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

Based on type, the PU films market has been segmented into polyester PU films and polyether PU films. The polyester PU films segment is estimated to account for a larger share of the PU films market in 2018 than the polyether PU films segment due to the low cost of polyester PU films and its high demand in the textile & leisure industry.

Based on function, the PU films market has been segmented into thermoplastic-based PU films and thermoset-based PU films. Thermoplastic-based PU films accounted for the larger market share in the PU films market owing to its easy processability and its major applications areas. This segment is also expected to register the higher CAGR during the forecast period.

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

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.

Expansions was the key growth strategy adopted by the leading players between 2015 and 2018 to enhance their business prospects, increase their global reach, and widen their distribution network. Covestro adopted the strategy of expansion to increase its revenue and enhance its profit margins. At the beginning of 2018, the company planned to expand its films production capacity at four locations, namely, Thailand, the US, China, and Germany.

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