Covestro AG, Huntsman International LLC, and BASF SE are Dominating the Market for Thermoplastic Polyurethane Market in 2017

Global Thermoplastic Polyurethane Market is expected to reach 2,607.35 thousand tonnes by 2025 from USD 1,630.00 million in 2017, at a CAGR of 6.2% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Global Thermoplastic Polyurethane Market

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The global thermoplastic polyurethane market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. Covestro AG dominated the thermoplastic polyurethane market accounting for a highest market share in 2017, followed by Huntsman International and BASF SE. Other players in this market include are thermoplastic polyurethane are American Polyfilm, Inc., API (Trinseo), Hexpol AB, Kuraray Co. Ltd, The Lubrizol Corporation, Polyone, Wanhua Chemical Group Co., Ltd., Coim Group, Headway Group, Miracll Chemicals Co., Ltd  others among .

BASF SE:

Founded in 1865 and headquartered at Ludwigshafen, Germany. BASF SE operates as a chemical company worldwide. It operates through five segments namely chemicals, performance products, functional materials & solutions, agricultural solutions. The chemical segment provides thermoplastic polyurethane products. The thermoplastic polyurethane products include Elastollan, and Elastollan 600 series.

BASF operates in various locations across the globe namely Europe, North America, Asia-Pacific and South America, Africa, Middle East. Some of its subsidiaries include Wintershall, Cognis, BASF Coatings, Engelhard, BASF India Ltd., PCI Augsburg GmbH, BASF Japan, Siegfried PharmaChemikalien Minden GmbH and many more subsidiaries across the globe.

Recent Development:

In November 2017, BASF subsidiary BASF 3D Printing Solutions partnered with Ricoh, a technology supplier in the field of laser sintering machines for 3D printing of plastic powders. This will bring further innovation to the market in the field of 3D printing.

HUNTSMAN INTERNATIONAL LLC:

Founded in 1982 and headquartered at Salt Lake City, Utah, U.S. Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals. The company operates in five business segments namely polyurethanes, performance products, advance materials, textile effects and pigments & additives. The polyurethanes and performance product offers different variety of thermoplastic polyurethanes.

The company operates in more than 100 countries and has operation across various locations on the globe like China, United States, Germany, Mexico and others countries. Some of its subsidiaries include Huntsman Advanced Materials LLC, Huntsman International (India) Private Ltd, Huntsman Petrochemical Corp, TIOXIDE GROUP, Huntsman Corporation Canada Inc, Huntsman Chemical Trading (Shanghai) Ltd and many more subsidiaries across the globe.

Recent Development:

In June 2015, Huntsman Corporation acquired Tecnoelastomeri, a manufacturer and marketer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines, based in Modena, Italy. This will help company to strengthen its downstream hot-cast elastomer markets globally.

COVESTRO AG:

Founded in 2015 and headquartered at Leverkusen, Germany. Covestro is the leading supplier of premium polymers. Innovation and sustainability are the driving forces behind the continuous development of our products, processes and facilities. The company core business comprises three segments that produce and continuously advance raw materials for polyurethanes and their derivatives, the premium plastic polycarbonate as well as coatings, adhesives and other specialties.

The Evonik Company has 30 production sites and have operation across various locations on the globe namely EMEA, NAFTA and APAC. Some of its subsidiaries include Baulé SAS, Dr. D.A. Delis AG, Covestro (India) Pvt. Ltd., Covestro (Thailand) Company Limited, Covestro Polymers (China) Company Limited, Bayer Pearl Polyurethane Systems FZCO, Guangzhou Covestro Polymers Co., Ltd and many more subsidiaries across the globe.

Recent Development:

In September 2017, Covestro expanded its production capacity of thermoplastic polyurethane (TPU) at its plant in Changhua County. This expansion is expected to boost the plant’s annual TPU capacity from 18,000 tonnes to 23,000 tonnes by next year.