Thermoplastic Polyurethane Adhesive Market Report Scope & Overview:

The Thermoplastic Polyurethane Adhesive Market Size was valued at USD 1.32 Billion in 2023 and is expected to reach USD 2.43 Billion by 2032, growing at a CAGR of 7.07% over the forecast period of 2024-2032.

The Thermoplastic Polyurethane Adhesive Market is evolving amid fluctuating raw material prices, which directly impact production costs and market stability. As industries seek cost-effective solutions, price volatility influences procurement strategies and profitability. Meanwhile, sustainability takes center stage with increasing focus on recycling and waste management in adhesive applications, driving innovations in eco-friendly formulations. Regulatory frameworks are also shaping the market, as government policies and incentives for sustainable adhesives promote bio-based alternatives and low-emission solutions. At the same time, consumer buying patterns vary by region, with developed markets prioritizing high-performance adhesives and emerging economies favoring affordability. Our report explores these trends in depth, providing valuable insights into their influence on market growth, technological advancements, and future opportunities.

Thermoplastic Polyurethane Adhesive Market Dynamics

Drivers

• Surging Demand for Customizable Adhesive Solutions in 3D Printing and Additive Manufacturing Expands Market Reach

The rise of 3D printing and additive manufacturing has significantly transformed production methods across various industries, including automotive, aerospace, healthcare, and consumer electronics. These sectors require customized, high-performance adhesives that can bond complex, multi-material components while maintaining flexibility and durability. Thermoplastic polyurethane adhesives are increasingly preferred due to their exceptional adhesion, elasticity, and chemical resistance, making them suitable for lightweight and intricate designs. Additionally, as manufacturers prioritize sustainability, the demand for biodegradable, recyclable, and low-VOC adhesives is growing in additive manufacturing. Advanced 3D-printed applications, such as personalized prosthetics, wearables, and drone components, require specialized adhesives that provide seamless integration and long-term performance. The rising adoption of 3D printing in rapid prototyping and mass customization is further fueling the demand for thermoplastic polyurethane adhesives. As industries continue to explore novel materials and high-precision fabrication techniques, the market for these adhesives will expand, driven by technological advancements and increased investment in digital manufacturing.

Restraints

• Lack of Standardization in Adhesive Performance and Quality Limits Market Expansion

One of the major restraints in the thermoplastic polyurethane adhesive market is the lack of uniform performance standards across different industries and regions. Unlike well-established adhesives like epoxy or acrylic, thermoplastic polyurethane adhesives have varied formulations and performance metrics, which creates inconsistencies in product quality and application reliability. This issue is particularly significant in industries such as aerospace, automotive, and healthcare, where precise bonding strength, heat resistance, and safety compliance are critical. Manufacturers often face compatibility issues when integrating adhesives into existing production processes, leading to higher testing costs and longer approval timelines. Additionally, regional disparities in regulatory approvals create barriers for international trade, forcing companies to obtain multiple certifications, increasing costs. The absence of universally accepted benchmarks for thermal stability, chemical resistance, and mechanical properties makes product selection complex, limiting widespread adoption. Establishing industry-wide standardization is essential for ensuring consistency, facilitating market penetration, and enhancing consumer confidence in thermoplastic polyurethane adhesives.

Opportunities

• Increased Focus on Adhesive Recycling and Circular Economy Enhances Market Sustainability

The global push for sustainability and circular economy initiatives has created significant opportunities for recyclable, bio-based, and low-environmental-impact adhesives. Traditional thermoset adhesives present challenges in end-of-life product disposal, as they form permanent, irreversible bonds that hinder material separation and recycling. However, thermoplastic polyurethane adhesives offer removable, reprocessable, and recyclable bonding solutions, making them highly desirable in automotive, electronics, and construction industries. Companies are developing detachable adhesives that allow material disassembly and reuse, enabling industries to meet sustainability targets without compromising performance or durability. Additionally, bio-based thermoplastic polyurethane adhesives derived from renewable sources such as plant oils and lignin are gaining attention as manufacturers seek eco-friendly alternatives. Governments and environmental organizations are implementing stringent regulations and incentives to encourage the adoption of low-carbon adhesives, further driving market expansion. The shift towards closed-loop recycling and sustainable material sourcing is expected to reshape adhesive manufacturing, giving companies that focus on green innovations a strategic advantage in the evolving global market.

Challenge

• Difficulty in Achieving High Bonding Strength in Low-Surface-Energy Plastics and Composite Materials

Thermoplastic polyurethane adhesives face significant adhesion challenges when bonding low-surface-energy (LSE) plastics such as polypropylene (PP), polyethylene (PE), and fluoropolymers, which are widely used in automotive interiors, medical devices, and industrial packaging. These materials possess non-polar, chemically inert surfaces, making it difficult for adhesives to establish strong molecular interactions. As a result, achieving a long-lasting and durable bond often requires surface treatments such as plasma activation, corona discharge, flame treatment, or chemical primers, adding extra complexity and cost to the manufacturing process. This limitation restricts the versatility of thermoplastic polyurethane adhesives in industries where LSE plastics are dominant. Additionally, the need for specialized formulations and adhesion promoters increases development time and costs, making it harder for companies to compete with established bonding technologies like hot-melt adhesives and solvent-based alternatives. Addressing these adhesion challenges through material innovations and novel surface modification techniques is crucial for expanding market applicability and boosting industrial adoption of thermoplastic polyurethane adhesives.

Thermoplastic Polyurethane Adhesive Market Segmental Analysis

By Type

Hot Melt based adhesive dominated the thermoplastic polyurethane adhesive market in 2023 with a 41.7% market share. The preference for solvent-free, fast-curing, and high-performance adhesives has driven industries such as automotive, electronics, packaging, and textiles to adopt hot melt formulations. These adhesives offer quick bonding, superior flexibility, and enhanced durability, making them ideal for applications requiring high resistance to environmental factors such as heat, moisture, and chemicals. According to the European Adhesive and Sealant Industry Association (FEICA), the transition toward low-VOC and environmentally friendly adhesives has significantly increased the adoption of hot melt thermoplastic polyurethane adhesives. The automotive sector, particularly electric vehicle (EV) manufacturers such as Tesla and BMW, has embraced these adhesives to reduce weight, improve aerodynamics, and enhance fuel efficiency. In addition, the U.S. Environmental Protection Agency (EPA) has enforced strict regulations on solvent-based adhesives due to their high VOC emissions, further propelling the demand for hot melt adhesives. In the packaging industry, major brands like Amazon and Unilever are incorporating hot melt adhesives into sustainable packaging solutions to improve recyclability and product longevity. The rapid adoption of automated adhesive dispensing systems in industrial production has also boosted demand for hot melt thermoplastic polyurethane adhesives, making them the dominant choice across multiple sectors.

By Substrate

Plastic substrate dominated the thermoplastic polyurethane adhesive market in 2023, holding a 35.2% market share. The widespread use of plastics in industries such as automotive, electronics, medical devices, and consumer goods has significantly contributed to the increasing demand for adhesives with superior flexibility, impact resistance, and chemical stability. According to the Plastics Industry Association (PLASTICS), global plastic consumption continues to rise due to the material's lightweight, cost-effectiveness, and adaptability in manufacturing complex structures. In the consumer electronics sector, companies such as Apple, Samsung, and Sony use plastic components for smartphones, tablets, and flexible display screens, necessitating adhesives with strong adhesion and thermal stability. Additionally, the automotive industry’s shift toward lightweight vehicles to enhance fuel efficiency and reduce carbon emissions has increased the use of plastic parts bonded with thermoplastic polyurethane adhesives. Organizations such as the International Association of Plastics Distribution (IAPD) highlight that plastic-based medical devices, including wearables and prosthetics, are witnessing a surge in demand, further reinforcing plastic as the dominant substrate in this market. The growing trend of 3D printing in industrial applications is also expanding the scope of thermoplastic polyurethane adhesives in plastic bonding, making it a critical segment in the market.

By Form

Granules form dominated the thermoplastic polyurethane adhesives market in 2023, accounting for a 47.5% market share. The preference for granule-based adhesives stems from their superior processability, precise melting properties, and long shelf life. These adhesives are widely utilized in automated industrial applications such as footwear manufacturing, automotive assembly, and electronics production, where controlled adhesive application is crucial for enhancing product durability and performance. Reports from the Adhesive and Sealant Council (ASC) indicate that granular adhesives offer better waste management, ease of handling, and improved efficiency compared to liquid or powder forms. Leading companies such as Henkel, Bostik, and Sika AG have heavily invested in high-performance granule-based thermoplastic polyurethane adhesives, further strengthening their dominance in the market. In the footwear industry, brands like Nike and Puma are integrating granular adhesive solutions to enhance the durability and waterproofing of sportswear and outdoor shoes. Moreover, the growing use of robotic adhesive application systems in manufacturing has boosted the demand for granule adhesives, as they enable precise dispensing and controlled bonding in mass production settings. The increasing automated production lines in the electronics and packaging industries further reinforce the dominance of granular thermoplastic polyurethane adhesives in the market.

By End-Use Industry

Consumer goods dominated the thermoplastic polyurethane adhesive market in 2023 with a 32.4% market share. The increasing demand for wearable electronics, flexible packaging, household appliances, and sports equipment has fueled the growth of thermoplastic polyurethane adhesives in the consumer goods sector. The Consumer Technology Association (CTA) reports that the global wearable technology market is expanding at an significant rate, with smartwatches, fitness trackers, and augmented reality (AR) glasses relying on lightweight, durable, and flexible adhesive solutions. Companies like Fitbit and Garmin use thermoplastic polyurethane adhesives for seamless bonding of flexible circuits and wearable components, ensuring water resistance and long-lasting performance. Additionally, the rising trend of sustainable and recyclable packaging has propelled the demand for bio-based thermoplastic polyurethane adhesives, particularly in the e-commerce sector. Giants such as Amazon and Walmart are actively investing in sustainable adhesive technologies to meet regulatory standards and consumer preferences for eco-friendly packaging. The sports and outdoor gear industry also contributes to market growth, with leading brands like Adidas and Under Armour incorporating high-performance thermoplastic polyurethane adhesives into performance footwear, backpacks, and outdoor gear. Furthermore, the household appliance sector is witnessing a surge in demand for adhesives that provide heat resistance and long-lasting bonding, particularly in kitchen appliances, vacuum cleaners, and personal care products. These factors solidify consumer goods as the leading end-use segment for thermoplastic polyurethane adhesives.

Thermoplastic Polyurethane Adhesive Market Regional Outlook

Asia Pacific dominated the thermoplastic polyurethane adhesive market in 2023, holding a 41.20% market share, driven by strong manufacturing capabilities, expanding industrial sectors, and growing demand for high-performance adhesives. Countries like China, India, Japan, and South Korea are leading contributors due to high production volumes in automotive, electronics, footwear, and packaging industries. China remains the largest consumer and producer of adhesives, particularly in electronics and footwear manufacturing, where thermoplastic polyurethane adhesives provide durability and flexibility. The China Adhesives and Tape Industry Association reported a 9% annual increase in adhesive consumption, reflecting rising demand across multiple industries. India, with its booming construction and automotive sectors, has seen rapid adhesive adoption, fueled by government initiatives supporting domestic manufacturing and infrastructure development. Japan’s advanced automotive and semiconductor industries drive demand for high-performance adhesives, with companies like Toyota and Sony integrating thermoplastic polyurethane adhesives into lightweight vehicle components and flexible display technologies. South Korea, a global leader in display technology and semiconductor manufacturing, has seen increased adhesive demand in flexible OLED panels and chip packaging. Additionally, Southeast Asian nations such as Vietnam and Indonesia are witnessing growing demand in the footwear and packaging industries, particularly as major global brands shift production to these regions due to cost advantages. With China and Vietnam producing over 50% of the world’s footwear, the reliance on thermoplastic polyurethane adhesives continues to strengthen Asia Pacific’s market leadership.

Moreover, North America emerged as the fastest-growing region in the thermoplastic polyurethane adhesive market with a significant CAGR driven by technological advancements, sustainability initiatives, and rising demand in key industries such as aerospace, electric vehicles, and healthcare. The United States dominated, due to its strong presence in high-performance adhesive applications. Companies like Tesla and Boeing are increasingly using thermoplastic polyurethane adhesives for lightweight bonding solutions in electric vehicle battery assemblies and aerospace composites. Additionally, the Biden administration’s push for green energy and sustainable materials has encouraged manufacturers to adopt advanced adhesives that comply with volatile organic compound (VOC) regulations. Canada’s pharmaceutical and food packaging industries are witnessing a surge in demand for flexible and sustainable adhesive solutions, with a 10% annual growth rate in medical device adhesives. Mexico’s growing automotive sector, supported by manufacturers like Ford, General Motors, and Volkswagen, is further fueling demand for thermoplastic polyurethane adhesives in vehicle assembly. Furthermore, the U.S. construction industry’s increasing preference for energy-efficient and modular housing solutions is driving the adoption of advanced adhesives, reinforcing North America’s position as the fastest-growing market in the forecast period.

Key Players

• Arkema (​Platamid, Pebax)​

• Coim Group (​Novacote)​

• DIC Corporation (​HYDRAN)​

• Dongsung (​ESTERTOP)​

• Epaflex Polyurethanes Spa (​Epaflex TPU)​

• Gerlinger Industries GmbH (​Gerlinger PUR Adhesive)​

• Great Eastern Resins Industrial Co. Ltd. (​GER-TPU)​

• H.B. Fuller (​Swiftlock)​

• Henkel AG & Co. KGaA (​Technomelt PUR)​

• Jowat SE (​Jowatherm-Reaktant)​

• Kraton Polymers (​Kraton G)​

• Lanxess (​Pocan)​

• Miracll Chemicals Co. Ltd. (​Mirathane)​

• Nanpao Resins Chemical Group (​Nanpao TPU Adhesive)​

• Sika AG (​Sikaflex)​

• Sun Yang Global Co. Ltd. (​SunYang TPU)​

• Taiwan PU Corporation (​TPU Adhesive 3000 Series)​

• Tianyang New Materials (Shanghai) Technology Co. Ltd. (​TY-TPU)​

• Xiamen Keyuan Plastic Co. Ltd. (​Keyuan TPU)​

• Yantai Linghua New Material Co. Ltd. (​Linghua TPU Adhesive)​

Recent Developments

• September 2023: Huntsman launched SMARTLITE O liquid TPU, the first liquid thermoplastic polyurethane for footwear midsoles. This innovation enabled recyclable, high-performance midsoles with reduced waste and energy use. Partnering with framas Group, Huntsman aimed to produce two million soling constructions annually.

• May 2024: Lubrizol introduced Pearlbond ECO 590 HMS TPU, a bio-based thermoplastic polyurethane for hot melt adhesives and extrusion. It offered fast setting, strong adhesion, and high temperature resistance, serving as a sustainable alternative for toluene-free adhesives.