Global Thermoplastic Polyurethane Adhesive Market Size Study, by Type, by Form, by End-Use Industry, and Regional Forecasts 2022-2032

Description

The Global Thermoplastic Polyurethane (TPU) Adhesive Market is poised to expand from an estimated USD 0.96 billion in 2023 to USD 1.72 billion by 2032, registering a robust CAGR of 6.7% during the forecast period. This growth trajectory is fueled by TPU adhesives' remarkable properties, including flexibility, durability, chemical resistance, and sustainability.

Industries such as automotive, construction, footwear, and consumer goods are increasingly turning to TPU adhesives due to their adaptability to a wide range of substrates and resistance to environmental factors like temperature fluctuations and moisture. These qualities are complemented by their low VOC emissions and recyclable characteristics, aligning with the global shift toward sustainable materials. Furthermore, the evolution of e-commerce and packaging innovations continues to enhance demand, as does the automotive sector's emphasis on lightweight materials for energy efficiency.

The hot melt adhesive segment dominates the market, boasting fast curing times, superior bonding strength, and eco-friendliness due to its solvent-free formulation. Granular TPU adhesives have emerged as a favorite form factor, thanks to their ease of handling, transport, and precise application. In terms of end-use industries, consumer goods lead the pack, with applications in wearable electronics, sports equipment, and premium lifestyle products.

Regional Growth Insights- Asia-Pacific is anticipated to register the fastest growth during the forecast period, driven by booming industrial activities in China, India, and Vietnam. These countries' construction and electronics sectors create substantial demand for high-performance adhesives. North America and Europe also hold significant market shares, benefiting from advanced manufacturing ecosystems and ongoing R&D investments in TPU adhesive technologies.

Major market players included in this report are:

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

The detailed segments and sub-segment of the market are explained below:

By Type:

Hot Melt Adhesives
Solvent-Based Adhesives
Water-Based Adhesives
Other Types (UV-Curable Adhesives, Hydrophobic Adhesives)

By Form:

Granular
Powder
Liquid

By End-Use Industry:

Automotive
Packaging
Textiles
Consumer Goods
Electronics
Building & Construction
Other End-Use Industries (Medical & Healthcare, Aerospace)

By Region:

North America:

U.S.
Canada
Mexico

Europe:

UK
Germany
France
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year: 2022
Base year: 2023
Forecast period: 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Thermoplastic Polyurethane Adhesive Market Executive Summary

1.1. Global Thermoplastic Polyurethane Adhesive Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Form
- 1.3.3. By End-Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Thermoplastic Polyurethane Adhesive Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Thermoplastic Polyurethane Adhesive Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for TPU Adhesives in Automotive Applications
- 3.1.2. Increasing Preference for Lightweight and Flexible Bonding Solutions
- 3.1.3. Growth in Sustainable and Eco-Friendly Adhesive Solutions
3.2. Market Challenges
- 3.2.1. Availability of Cheaper Alternatives (e.g., Acrylic, Epoxy Adhesives)
- 3.2.2. High Viscosity and Complex Processing Requirements
3.3. Market Opportunities
- 3.3.1. Development of Bio-Based TPU Adhesives
- 3.3.2. Rising Applications in Smart Textiles and Wearables
- 3.3.3. Expansion in Emerging Economies

Chapter 4. Global Thermoplastic Polyurethane Adhesive Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Thermoplastic Polyurethane Adhesive Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Thermoplastic Polyurethane Adhesive Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Hot Melt Adhesives
- 5.2.2. Solvent-Based Adhesives
- 5.2.3. Water-Based Adhesives
- 5.2.4. Other Types

Chapter 6. Global Thermoplastic Polyurethane Adhesive Market Size & Forecasts by Form 2022-2032

6.1. Segment Dashboard
6.2. Global Thermoplastic Polyurethane Adhesive Market: Form Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Granular
- 6.2.2. Powder
- 6.2.3. Liquid

Chapter 7. Global Thermoplastic Polyurethane Adhesive Market Size & Forecasts by End-Use Industry 2022-2032

7.1. Segment Dashboard
7.2. Global Thermoplastic Polyurethane Adhesive Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Automotive
- 7.2.2. Packaging
- 7.2.3. Textiles
- 7.2.4. Consumer Goods
- 7.2.5. Electronics
- 7.2.6. Building & Construction
- 7.2.7. Other End-Use Industries

Chapter 8. Global Thermoplastic Polyurethane Adhesive Market Size & Forecasts by Region 2022-2032

8.1. North America Thermoplastic Polyurethane Adhesive Market
- 8.1.1. U.S. Thermoplastic Polyurethane Adhesive Market
  - 8.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. End-Use Industry Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada Thermoplastic Polyurethane Adhesive Market
8.2. Europe Thermoplastic Polyurethane Adhesive Market
- 8.2.1. UK Thermoplastic Polyurethane Adhesive Market
- 8.2.2. Germany Thermoplastic Polyurethane Adhesive Market
- 8.2.3. France Thermoplastic Polyurethane Adhesive Market
- 8.2.4. Rest of Europe Thermoplastic Polyurethane Adhesive Market
8.3. Asia-Pacific Thermoplastic Polyurethane Adhesive Market
- 8.3.1. China Thermoplastic Polyurethane Adhesive Market
- 8.3.2. India Thermoplastic Polyurethane Adhesive Market
- 8.3.3. Japan Thermoplastic Polyurethane Adhesive Market
- 8.3.4. Rest of Asia-Pacific Thermoplastic Polyurethane Adhesive Market
8.4. Latin America Thermoplastic Polyurethane Adhesive Market
- 8.4.1. Brazil Thermoplastic Polyurethane Adhesive Market
- 8.4.2. Rest of Latin America Thermoplastic Polyurethane Adhesive Market
8.5. Middle East & Africa Thermoplastic Polyurethane Adhesive Market
- 8.5.1. Saudi Arabia Thermoplastic Polyurethane Adhesive Market
- 8.5.2. South Africa Thermoplastic Polyurethane Adhesive Market
- 8.5.3. Rest of Middle East & Africa Thermoplastic Polyurethane Adhesive Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. BASF
- 9.1.2. The Lubrizol Corporation
- 9.1.3. Huntsman International LLC
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. BASF
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. The Lubrizol Corporation
- 9.3.3. Covestro AG
- 9.3.4. H.B. Fuller
- 9.3.5. Henkel AG & Co. KGaA

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes