Thermoplastic polyurethane elastomer (TPU) is widely used and the industry concentration is high

Thermoplastic polyurethane elastomer (TPU), also known as thermoplastic polyurethane rubber, is an elastomer that can be plasticized by heating and dissolved by solvents. TPU is transparent or white in appearance and has the characteristics of good deformation, hydrolysis resistance, wear resistance and excellent elasticity. It is widely used in medicine and health, shoe materials, construction, clothing, toys and other fields.

The raw materials required for the production of TPU include adipic acid, polyol, ethylene glycol, diphenylmethane diisocyanate, butylene glycol and other chemical raw materials. Diphenylmethane diisocyanate (MDI) is the main raw material of TPU, which has the advantages of stable chemical properties and long storage time. In 2021, my country’s MDI output reached 1.215 million tons, a year-on-year increase of 20.6%. The MDI industry has high technical barriers. my country’s Wanhua Chemical Group has the world’s largest MDI production capacity and ranks as a monopoly in the industry. According to the “2022-2027 China TPU (Thermoplastic Polyurethane Elastomer) Industry Market Supply and Demand Research Consultation Report released by the Industrial Research Center , driven by the advantages of raw materials, my country’s TPU production capacity continues to be released, and output continues to increase, exceeding 650,000 tons in 2021.

The main production methods of TPU include twin-screw method, batch method and conveyor belt method. The twin-screw method uses high-end technical equipment to form a streamlined production line for measurement, transmission, reaction, processing and other processes, which can achieve continuous production of TPU. This method has the advantages of low consumption and high yield. The batch method requires the raw materials to be placed in a reaction vessel for reaction, and then processed into TPU through aging, granulation and other processes. This method has the advantages of low production cost and simple operation, but the product quality is unstable.

As a new polymer material, TPU has the advantages of green environmental protection, wear resistance and high elasticity. It has a wide range of applications. Shoe materials are its main demand side, accounting for 40.0% of the demand. Compared with traditional EVA materials, footwear products made of TPU are superior in terms of wearing comfort and shock absorption. Currently, world-renowned sports brands such as Adidas, PUMA, and Salomon all use TPU as sole material. In this context, the TPU market demand is increasingly strong.

Competition in my country’s TPU market is fierce and the industry is highly concentrated. Leading companies include Huafeng Group, Wanhua Chemical Group, Yinuowei New Materials, Meirui New Materials, etc. The above four companies occupy nearly 40.0% of the Chinese market. Huafon Group’s production capacity ranks among the leaders in my country’s TPU industry. At present, the company’s high-performance TPU devices with an annual output of 200,000 tons have gradually released production capacity.

Industry analysts said that TPU has excellent performance and is widely used in many fields. my country is the world’s largest consumer of TPU. With market demand Gradually released, the development space of the TPU industry will continue to expand. Benefiting from the sufficient supply of raw materials, my country’s TPU production capacity continues to expand and can fully meet downstream demand. Driven by leading enterprises, the development prospects of my country’s TPU industry will be broader.