Thermoplastic Polyurethane Adhesive Market worth $1.41 billion by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Jan. 9, 2025 /PRNewswire/ -- The report "Thermoplastic Polyurethane Adhesive Market by Type (Hot Melt Adhesives, Solvent-based Adhesives), Application (Granular, Powder, Liquid), End-Use Industry (Packaging, Textile, Consumer Goods, Automotive) - Global Forecast to 2029", size is projected to grow from USD 1.02 billion in 2024 to USD 1.41 billion by 2029, registering a CAGR of 6.7% during the forecast period. Thermoplastic polyurethane adhesive is a versatile bonding material characterized by elasticity, durability, and resistance to chemicals. It has many applications in industries such as footwear, textiles, automotive, and electronics, which require strong and flexible bonding. The demand for TPU adhesives increases due to the rising concern for lightweight, durable, and sustainable products in many sectors. The increase in consumer demand for high-performance and green solutions, along with innovative adhesive technologies, has increased applications of TPU adhesives in emerging sectors, such as wearable devices, renewable energy components, and helped the market grow.

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Solvent-based Adhesives is anticipated to be the second largest segment in Thermoplastic Polyurethane Adhesive Market segment, by type, during the forecast period.

The solvent-based adhesive segment is the second-largest share in the TPU adhesive market, owing to the fact that it combines great bonding capability with versatility across several substrates. Solvent-based TPU adhesives are formulated using TPU polymers dissolved in organic solvents to create an adhesive possessing superior penetration and adhesion characteristics. This makes them especially suitable for applications that need high bond strength and resistance to challenging conditions such as moisture, temperature fluctuations, and chemical exposure. Industries like footwear, automotive, and textiles depend on solvent-based TPU adhesives for the assembly of parts where durability and reliability are critical. Solvent-based adhesives also cure faster than other types, which is advantageous in terms of productivity for high-volume manufacturing processes.

Powder is anticipated to be the second largest segment Thermoplastic Polyurethane Adhesive Market segment, by form, during the forecast period.

The powder form segment is the second-largest in the TPU adhesive market because of its increased adoption in industries requiring precision application, efficient processing, and customizable performance characteristics. Powder TPU adhesives also allow for consistent and controlled application, which reduces waste and provides uniform bonding across large surfaces. This is especially valuable in high-volume production environments. It also is more favorable for automation of manufacturing processes, for example in the process of thermal lamination where accurate application of adhesives will contribute to good product quality. Demand for lighter weight and visually pleasing products continues to be in demand within the textile and consumer goods market and as such encourages powder-based TPU adhesives because they adhere well without bulk.

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Textiles is anticipated to be the second largest segment Thermoplastic Polyurethane Adhesive Market segment, by end-use industry, during the forecast period.

The textiles segment holds the second-largest share in the TPU adhesive market, with rising demand for high-performance adhesives in sportswear, outdoor gear, industrial fabrics, and medical textiles. In the textile industry, TPU adhesives are more favored for their flexibility and elasticity, maintaining strong bonds even under repeated mechanical stress, which makes them very suitable for laminating and bonding fabrics in demanding environments. These adhesives improve the durability and functional properties of textiles by offering water resistance, abrasion resistance, and lightweight solutions for bonding, which are critically important for producing high-tech fabrics and performance wear. These are also supported by fast-growing seamless and aesthetic textile applications, such as heat bonding of garments and welded seams. Unlike traditional stitching, TPU adhesives provide smooth and durable finishes, which align with consumer preferences for sleek and functional products.

Europe is expected to be the second largest region in the global Thermoplastic Polyurethane Adhesive Market, by region, during the forecast period.

Europe accounts for the second-largest share of the market for TPU adhesives mainly due to its robust industrial base with remarkable technological advancements and a steadily rising requirement for high-performance bonding solutions for diversifying different sectors. TPU adhesives, mainly due to their excellent strength of durability, impressive flexibility, as well as their impressive capabilities to bond well with a very extensive range of different materials, heavily find application in the diversified industries across Europe, which include automotive, textile, electronic, and constructional industries. The adoption of TPU adhesives is also driven by Europe's focus on sustainability and eco-friendly manufacturing practices, since they can be formulated with low VOCs and recyclable materials, thus meeting strict environmental regulations like REACH and the European Green Deal.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Thermoplastic Polyurethane Adhesive Market. The Lubrizol Corporation (US), BASF (Germany), Covestro AG (Germany), Huntsman International LLC (US), Wanhua (China), DIC CORPORATION (Japan), H.B. Fuller (US), Henkel AG & Co. KGaA (Germany), Arkema (France), Huafon (China), NANPAO RESINS CHEMICAL GROUP (Taiwan) and Shandong INOV Polyurethane Co., Ltd. (China).

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