Thermoplastic Polyurethane Adhesive Industry Size, Market Share, Price and Growth Rate Research Report 2025

The Thermoplastic Polyurethane Adhesive Market size is projected to grow from USD 1.27 billion in 2024 to USD 1.76  billion by 2029, registering a CAGR of 6.7% during the forecast period, as per the recent study by MarketsandMarkets™.  This report provides a comprehensive analysis of the industry, including thermoplastic polyurethane adhesive market trends, market size, share, drivers and constraints, competitive aspects, and prospects for future growth. The market's growth is driven by the increasing demand for cost-effective and reliable battery solutions in the automotive industry and the widespread availability of lead-acid battery. Growth in the thermoplastic polyurethane adhesive market is mainly driven by their excellent bonding strength, flexibility, and durability, making them suitable for a wide range of industries, including automotive, electronics, textiles, and packaging. Its versatility is one of the major drivers since it can bond to various substrates like metals, plastics, and textiles. Rising interest in environmentally friendly and eco-friendly products will also lead to an increase in the demand for TPU adhesives, as most of them are recyclable, and low in VOCs, thus complying with environmental regulations and consumer expectations.

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Browse in-depth TOC on “Thermoplastic Polyurethane Adhesive Market”

260 - Market Data Tables
58 – Figures
261 - Pages

List of Key Players in Thermoplastic Polyurethane Adhesive Market:

1. The Lubrizol Corporation (US)
2. BASF (Germany), Covestro AG (Germany)
3. Huntsman International LLC (US)
4. Wanhua (China)
5. DIC CORPORATION (Japan)
6. H.B. Fuller (US)
7. Henkel AG & Co. KGaA (Germany)
8. Arkema (France)
9. Huafon (China)
10. NANPAO RESINS CHEMICAL GROUP (Taiwan)
11. Shandong INOV Polyurethane Co., Ltd. (China)

Drivers, Opportunities and Challenges in Coated Ducts Market:

1. Drivers: Rising demand in automotive for durable and flexible bonding solution
2. Restraint: Availability of cheaper alternative like acrylic and epoxy adhesive
3. Opportunity: Development of bio-based TPU adhesives for environmentally conscious industries
4. Challenge: Complex manufacturing processes requiring specialized expertise and equipment

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Key Findings of the Study:

1. Solvent-based Adhesives is anticipated to be the second largest segment in Thermoplastic Polyurethane Adhesive Market segment, by type, during the forecast period.
2. Powder is anticipated to be the second largest segment Thermoplastic Polyurethane Adhesive Market segment, by form, during the forecast period.
3. Textiles is anticipated to be the second largest segment Thermoplastic Polyurethane Adhesive Market segment, by end-use industry, during the forecast period.
4. Europe is expected to be the second largest region in the global Thermoplastic Polyurethane Adhesive Market, by region, during the forecast period.

Thermoplastic polyurethane adhesives market, by type, is segmented into Hot Melt Adhesives, Solvent-Based Adhesives, Water-Based Adhesives, and other types. In the TPU adhesive market, hot melt adhesives hold the largest market share primarily due to their superior performance, ease of application, and alignment with industry trends. Hot melt TPU adhesives are widely used in various industries, including footwear, packaging, textiles, and electronics because they provide strong, durable bonds without the use of solvents. They are ideal for high-speed manufacturing processes, where efficiency is critical, because of their quick curing time and high bonding strength. Furthermore, hot melt TPU adhesives, usually solvent-free, support the rising requirement for green manufacturing. Moreover, the technological developments made in the product have helped increase the flexibility of the hot melt TPU adhesives to be applied to novel applications like 3D printing and wearable devices.

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The thermoplastic polyurethane adhesives market, by form, is segmented into Granular, Powder, and Liquid.  Granular form holds the largest market share in the thermoplastic polyurethane adhesive market due to its versatility, and ease of handling. Granular TPU adhesives are much preferred in manufacturing processes such as extrusion, injection molding, and hot melt applications, as the uniform particle size ensures uniform melting, precise dosing, and efficient processing. It makes them ideal for the manufacture of footwear, textiles, packaging, and automotive where large-scale production demands reliable and easily manageable adhesive solutions. Granular TPU adhesives are widely used in packaging and footwear due to their compatibility with automated production lines, which allow high-speed operation and less waste. Furthermore, the granule form allows for better storage, transportation, and shelf life than liquid or sheet forms, thus saving manufacturers on the costs of production.

Thermoplastic polyurethane adhesives market, by end-use industry, is segmented into Packaging, Textiles, Automotive, Electronics, Consumer Goods, Building & Construction, and other end-use industries. Consumer goods account for the largest share in the end-use industry of the thermoplastic polyurethane adhesive market, mainly due to the diverse applications and growing demand for high-performance adhesive solutions in everyday products. TPU adhesives are found to be extensively used in the production of footwear, apparel, home appliances, and electronics, where their extreme flexibility, durability, and lightweight properties are important. In the shoe industry, TPU adhesives provide excellent bonding between soles and uppers to address the demand for durable yet comfortable products. In electronics, TPU adhesives are useful in assembling wearable devices and flexible gadgets, promoting innovation in the burgeoning smart device market. Also, growth in the e-commerce sector has necessitated TPU adhesives for flexible and durable packaging materials to protect products while in transit.

The Asia-Pacific region holds the highest market share in the TPU adhesive market because of its fast-growing manufacturing base, growing industrialization, and increased demand across key sectors. Countries like China, India, Japan, and South Korea are major hubs for industries such as automotive, electronics, footwear, textiles, and packaging, all of which extensively use TPU adhesives for their superior performance and versatility. With emerging economies, booms in construction and infrastructural developments create a spur for demand for TPU adhesives in various applications like flooring, furniture, and paneling. Asia-Pacific also has cost-effective production through readily available raw materials, lower labor costs, and governmental policies to promote industrial development. The consumers preference for high-quality and sustainable products increases and creates more demand for TPU adhesive in consumer goods with a growing middle-class population.

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BASF, established in 1865, is a leading global chemical company headquartered in Ludwigshafen, Germany. The company operates in over 93 countries and has 234 production sites globally, spanning Europe, North America, South America, Asia Pacific, Africa, and the Middle East. BASF's business portfolio comprises seven distinct segments: Chemicals, Industrial Solutions, Materials, Surface Technologies, Nutrition & Care, Agricultural Solutions, and Other. The company provides TPU adhesives with the brand name Elastollan® under the Materials segment which is divided into two divisions: Performance Materials and Monomers. The Performance Materials division specializes in thermoplastic polyurethanes and foam specialties tailored for various applications in construction, transportation, consumer goods, and industrial sectors.

The Lubrizol Corporation is one of the leading chemical manufacturers and a fully owned subsidiary of Berkshire Hathaway (US). The company established in 1928 and headquartered in Ohio, US is a leading specialty chemicals and performance materials company that serves global transportation, industrial, and consumer markets.  The company is comprised of two primary business segments: Lubrizol Additives and Lubrizol Advanced Materials.

Highlights of Our Report:

⏩Extensive Market Analysis: A deep dive into the manufacturing capabilities, production volumes, and technological innovations within the Thermoplastic Polyurethane Adhesive Market.

⏩ Corporate Insights: An in-depth review of company profiles, spotlighting major players and their strategic manoeuvres in the market's competitive arena.

⏩Consumption Trends: A detailed analysis of consumption patterns, offering insight into current demand dynamics and consumer preferences.

⏩Segmentation Details: An exhaustive breakdown of end-user segments, depicting the market's spread across various applications and industries.

⏩ Pricing Evaluation: A study of pricing structures and the elements influencing market pricing strategies.

⏩ Future Outlook: Predictive insights into market trends, growth prospects, and potential challenges ahead.