Global PU Films Market: Overview
PU films find numerous applications in the industries such as healthcare, automotive, aerospace, and others. Over the past decade, there has been a tremendous rise in the demand for luxury cars. This has significantly helped the PU films market expand its global footprints. Moreover, growing purchasing power and a rise in disposable income have given a thrust to the market’s growth.
Global PU Films Market: Notable Developments
Below are a few notable developments in the global PU films market:
- Extensive use of PU films in the healthcare sector has cropped the need for the development of PU films with microbial properties. In order to cater to this need, American Polyfilm has developed Antimicrobial Polyurethane Films that encompass multiple antimicrobial systems. These films can be used for diverse applications such as laminations, athletic apparels, and medical. The product is manufactured as an unsupported film on rolls, however, it can be cut to specification. These films have gained immense popularity in the healthcare sector, thereby benefitting the global PU films market.
- Deerfield Urethane Inc. has developed new TPU films that possess high elastic recovery, thus preventing the wrinkling. TPU films need to be used with lubes which pose a risk of contamination of the equipment, which are required to be sterile for medical applications. However, the newly developed TPU films are additive free and are specially manufactured to provide high slip. Moreover, these films provide better breathability and durability as compared to traditional TPU films. Development of these films has enhanced the consumer base of the global PU films market, thus supporting its growth.
Prominent players in the global PU films market include SWM International, Avery Dennison, DingZing Advanced Materials, RTP Company, Covestro, and MH&W International.
Global PU Films Market: Key Growth Dynamics
PU films offer excellent tensile strength and low-temperature flexibility making them suitable for a variety of applications. This is a key factor boosting the growth of the global PU films market. Moreover, they are highly cost-efficient and easy to process, leading to high demand from the textile and leisure industry. This may also contribute to an upswing of the market.
Recent technological developments have led to the development of high-performance films that help in reducing the overall weight of the vehicles. Consequently, there is a high demand for PU films from the automobile sector, thereby expediting its growth. Moreover, PU films are an apt substitute for metal components in aircraft which has further presented lucrative growth opportunities for the global PU films market.
Furthermore, PU films find numerous applications in the construction industry owing to their high tensile strength. Along with this, they offer microbial resistance which led to tremendous demand from the diagnostics sector. PU films are extensively used for patient care, in surgical applications, and laboratories. This has impacted the global PU films market favorably, thus stimulating its growth.
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Global PU Films Market: Regional Outlook
On the regional front, Asia Pacific leads the global PU films market owing to an expansion of the automotive and construction industries. Rising disposable income has also contributed to the market’s expansion in this region. North America is also expected to emerge as a key region for the PU films market. The growth in this region can be attributed to high investment in infrastructure and expanding aerospace sector. Moreover, the rising popularity of luxury vehicles has spiked the market’s growth in this region.