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Wahid Tamboli | 14.10.2021

Polyurethane PU Films Market likely to reach beyond 688.6 Million USD by 2023 at a CAGR of 8.9%

Polyurethane PU Films Market expected to reach 688.6 Million USD by 2023, at a CAGR of 8.9%, over 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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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.

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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