PUBLISHER: Polaris Market Research | PRODUCT CODE: 1697923
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1697923
The global thermoplastic polyurethane adhesive market size is expected to reach USD 2,396.45 million by 2034, according to a new study by Polaris Market Research. The report "Thermoplastic Polyurethane Adhesive Market Size, Share, Trends, Industry Analysis Report: By Type (Hotmelt Adhesives, Solvent-Based Adhesives, Water-Based Adhesives, and Others), Form, Industry Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Thermoplastic polyurethane adhesive is a highly versatile bonding material known for its excellent flexibility, durability, and strong adhesion properties. It is a type of polyurethane adhesive that shows thermoplastic characteristics, meaning it can be repeatedly softened when heated and hardened when cooled. This unique property makes thermoplastic polyurethane adhesive highly suitable for applications requiring flexibility, resilience, and resistance to environmental factors. This adhesive is widely used in industries such as automotive, textiles, footwear, electronics, and packaging due to its ability to bond various substrates, including plastics, metals, textiles, and rubber. It provides superior performance in extreme conditions, making it ideal for applications requiring long-term durability. Additionally, thermoplastic polyurethane adhesives are available in different formulations, such as solvent-based, water-based, and hot melt, offering manufacturers options based on their specific bonding requirements.
The thermoplastic polyurethane adhesive market demand is driven by several factors, including the rapid growth of the footwear industry and the rising adoption of lightweight materials in automotive manufacturing. In the footwear industry, this adhesive plays a crucial role in bonding different shoe components, such as outsoles, uppers, and midsoles. The rising trend of sports and athleisure footwear has led to an increased demand for high-performance adhesives that provide durability, flexibility, and water resistance. Thermoplastic polyurethane adhesive is widely used in this sector as it offers excellent adhesion to synthetic materials such as polyurethane, rubber, and thermoplastics, ensuring strong and long-lasting bonds. Moreover, with the growing consumer preference for eco-friendly and sustainable footwear, manufacturers are opting for thermoplastic polyurethane adhesives that are solvent-free and have lower VOC emissions, thereby complying with environmental regulations while maintaining product performance.
In terms of type, the solvent-based adhesives segment dominated the thermoplastic polyurethane adhesive market share in 2024 due to its superior bonding strength, fast curing time, and strong resistance to moisture, chemicals, and extreme temperatures.
Based on form, the granular segment is expected to grow at the fastest pace after the liquid segment during the forecast period, owing to its increasing use in hotmelt adhesive applications and rising demand for sustainable and efficient bonding solutions.
In the global market, Asia Pacific dominated the thermoplastic polyurethane adhesive market share in 2024 due to rapid industrialization, strong manufacturing growth, and increasing demand from key industries such as automotive, footwear, construction, and electronics.
The North America thermoplastic polyurethane adhesive market is estimated to grow at a rapid pace during the forecast period owing to growing adoption in advanced manufacturing, increased demand for eco-friendly adhesives, and expansion in the electric vehicle (EV) sector.
Some of the global key market players are Arkema; BASF; Covestro AG; DIC CORPORATION; Dongsung; Great Eastern Resins Industrial Co. Ltd.; H.B. Fuller; Henkel AG & Co. KGaA; Huafon; Huntsman International LLC; NANPAO RESINS CHEMICAL GROUP; Shandong INOV Polyurethane Co., Ltd.; The Lubrizol Corporation; and Wanhua.
Polaris Market Research has segmented the thermoplastic polyurethane adhesive market report on the basis of type, form, industry vertical, and region: