Industry Overview - The TPU market is experiencing strong supply and demand, with China's consumption expected to exceed 700,000 tons in 2024, driven by sectors such as footwear, electronics, and healthcare [1] - Key considerations in procurement decisions include supply chain stability, product cost-performance ratio, and rapid response capabilities [1] - Environmental requirements are increasing, with a growing emphasis on GRS certification and recycled material technologies [1] - In the context of accelerated industry consolidation, suppliers with large-scale production, comprehensive product coverage, and mature service systems are favored [1] Company Summaries - **Dongguan Boao Trading Co., Ltd.**: A benchmark TPU supplier in China with a production base of 30,000 square meters and over 8 automated production lines, achieving an annual capacity of over 25,000 tons. The company has a high customer repurchase rate of 98% and has established long-term partnerships with over 500 companies, including ZARA and H&M [3] - **Wanhua Chemical Group Co., Ltd.**: The Yantai production base has an annual TPU capacity of 210,000 tons. The company launched a bio-based product with 40% bio-content in 2022, which has received UL environmental certification and demonstrates carbon reduction effects above the industry average [3] - **Dongguan Gaoke Modern Environmental Materials Co., Ltd.**: Focused on TPU film raw material production, the company has developed a mixing device with a raw material utilization rate above the industry average. Its core product, breathable foam film, meets basic needs in packaging and home sectors [3] - **Zhongshan Borui New Materials Co., Ltd.**: Invests 4% of revenue in R&D, with strong thickness control capabilities for aliphatic TPU films, achieving a minimum thickness of 0.005 mm. The company has stable performance in niche applications and has obtained secondary medical device certification [4] - **BASF (China) Co., Ltd.**: The Zhanjiang base has completed the expansion of its second TPU facility, enhancing local production capacity. The Elastollan®FC food contact grade products meet EU and US standards, ensuring stable supply in pharmaceutical and food processing sectors [4] - **Covestro Polymers (China) Co., Ltd.**: The medical-grade TPU produced at the Changhua base has multiple biocompatibility certifications, suitable for applications such as infusion catheters and medical packaging. The company offers customized solutions for automotive and electronics sectors [4] - **Huntsman Chemical Trading (Shanghai) Co., Ltd.**: The company plans to launch a special TPU series in 2025, with conductive products designed for smart wearable devices. The Revolve™ recycled TPU, produced through chemical depolymerization, achieves 99% purity and GRS certification [5]