Expanded Thermoplastic Polyurethane Market Size

Expanded Thermoplastic Polyurethane Market size was valued at USD 212.17 billion in 2023 and is expected to exceed USD 666.16 billion by 2036, expanding at over 9.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of expanded thermoplastic polyurethane is assessed at USD 227.79 billion.

The growth of the market can be attributed to the rising interest to use expanded thermoplastic polyurethane for protective purposes and increasing applications of the material in different industries such as sports, cars, building and gadgets. Furthermore, growing awareness about the beneficial properties of thermoplastic polyurethane such as high resistance to physical and heat related deformation and superior abrasion resistance impact are also projected to positively impact the market in the upcoming years. Additionally, the escalating use of this plastic material in logistics industry on the back of its property to keep moisture as well as other environmental elements out of packaging units is expected to offer lucrative opportunities to the market in the near future. In 2020, the market for sustainable plastic packaging was valued to be approximately USD 90 billion, with the highest presence in the food and beverage packaging industry.