TPU, or thermoplastic polyurethane elastomer, is a high‑molecular‑weight polymer obtained through the polymerization of diisocyanates, chain extenders, and macromolecular diols. It exhibits high modulus, high strength, high elongation, and high elasticity, along with excellent wear resistance, oil resistance, low‑temperature resistance, and aging resistance. TPU is widely used in applications such as footwear materials, films, adhesives, pipes, wires and cables, and automotive components.

TPU was first developed by the German company Bayer in 1958. Subsequently, other chemical companies such as BASF in Germany and DuPont and Dow Chemical in the United States also successfully developed TPU. In the 1970s, Japan imported TPU production equipment from Germany. Mainland China began to gain access to TPU production technology in the 1980s but did not achieve significant breakthroughs in research, development, or manufacturing processes. After the 1990s, as market demand for TPU materials grew and European, American, and Taiwanese firms entered the mainland, several domestic enterprises—including Wanhua Chemical—began producing and marketing TPU.

The 2017–2020 Global TPU Industry Market In-Depth Research and Investment Strategy Report released by the Xin Sijie Industry Research Center shows that global TPU production and consumption are currently concentrated in North America, Europe, and Asia. North America and Europe developed their TPU industries earlier and have more advanced technologies; companies such as Lubrizol, BASF, Covestro, and Huntsman hold strong competitive advantages in the global market. In Asia, represented by Japan, South Korea, China, and India, the TPU industry has also progressed relatively well. Notably, China and India have seen rapid economic growth in recent years, driving fast increases in both TPU production and consumption. However, their production levels still lag behind those of the United States and Europe, and their products are largely concentrated in mid- to low-end market segments. Global TPU output reached 1 million tons in 2016.

TPU is characterized by elasticity, transparency, oil resistance, and wear resistance, and it is an environmentally friendly material. Thanks to its outstanding performance, it is often used as an efficient alternative to conventional plastics and other raw materials. In the future, the TPU market will continue to grow and is expected to follow these development trends:

TPU modification is a hot topic.

Blending TPU with certain polymer materials such as TPE, PA, POM, PC, and PVC can yield polymer alloys with complementary properties, enhancing the elasticity, wear resistance, and impact resistance of these materials. Additionally, flame retardants, antistatic agents, and conductive additives can be incorporated into TPU to impart special functionalities—such as flame retardancy, antistatic behavior, and conductivity—thereby broadening its range of applications. Consequently, in the future, composite modification technologies that combine TPU with other materials will become the primary trend in global TPU technology development.

The Asia-Pacific region remains the area driving demand growth.

The Asia-Pacific region, including China and India, is currently one of the fastest-growing and most dynamically developing markets for TPU worldwide. Looking ahead, as economic growth in these countries slows and the TPU market matures, the pace of demand growth will moderate, though it will likely remain higher than in the United States and Europe. At the same time, low labor costs, room for technological advancement, and significant potential for expanding market demand in China, India, and other parts of the region suggest continued strong growth prospects.

Great potential for applications in the automotive components sector

TPU can be formulated into TPU/PP plastic alloys, TPU/PC plastic alloys, TPU/PVC plastic alloys, TPU/PA6 plastic alloys, TPU long-fiber composites, and more, which are then used in automotive interior and exterior trim, instrument panels, bumpers, flooring, front-end and door assemblies, and underbody protection components. TPU also offers significant competitive advantages in vehicle weight reduction. Looking ahead, the share of TPU applications in automotive components is expected to grow steadily, creating investment opportunities for companies.