TPU Demand in the Footwear Industry

Demand from footwear industry- TPU has applications in footwear, industrial, automotive, building & construction, wire & cable and medical industries. The demand of TPU in footwear industry is growing owing to its rising application in soles, hiking shoes, outdoor shoes, heel reinforcement, decorative elements, torsion elements etc. There are several benefits of using TPU in footwear industry such as outstanding wear and abrasion resistance, UV resistance, durability, comfort, solvent free bonding, crystal clarity and reduced yellowness. 

Market Overview

The growing footwear industry globally will drive the market of TPU. For instance, China is the leading footwear manufacturer and exporter of footwear globally and accounted for more than 50% of the global footwear production in 2020 which translated to more than 11 billion pairs produced. China’s exports of footwear reached around 9.3 Billion pairs for around USD 57.5 Billion in 2022 which grew by year-on-year growth of 6.6% and 20.4% respectively. Leather shoes accounts for largest market of footwear industry in the country additionally, the exports of leather shoes grew by year-on-year growth of 7.8% in 2022 to around 720 Million pairs.

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Factors Driving Demand

With rising disposable income, growing urbanisation, growing e-commerce, government initiatives and economic growth, the footwear industry of the country is growing which will boost the market of TPU. Vietnam is also one of the major leaders in footwear industry as the country is the fourth largest manufacturer of footwear globally and third largest manufacturer in Asia. 

Vietnam mostly exports the majority of the shoes it produces and as per Vietnam Leather and Association centre, around 300,000 shipments of shoes were exported from Vietnam from January to November 2021. Additionally, the exports have grown by an average of 9.93% annually in recent years on the back of its connection in fashion industry specialising in production of handbags etc.

Automotive Industry Demand for TPU

Demand from Automotive Industry- In automotive industry, TPU is used to make rocker panels, cladding, body side trims, ditch covers etc. and offers properties such as low shrinkage rates, toughness, durability, abrasion resistance, UV stability, sound insulation and excellent dimensional stability. In addition to this, incorporating TPU in the automotive parts allows to reduce wight and achieve fuel efficiency. The growing automotive industry is boosting the market of TPU.

Market Overview

China is the largest producer of automotives globally. China produced around 26.9 million units of cars in 2022 followed by USA which produced around 9.5 million units of cars. Additionally, India’s automotive production grew by year-on-year growth of around 30% in 2021 to around 4.3 million units. With growing disposable income, government initiatives and rising stringent environmental regulations, the consumption of TPU in the automotive industry will increase.  

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Growing Awareness- With rising environmental concern the demand of sustainable products is increasing. TPU is recyclable material making it a preferred choice of material.