Innovations in TPU Adhesives: How They Are Transforming Industries
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. Versatile performance properties, growing demands in various industries, and requirements concerning sustainability together drive the demand for TPU adhesives. TPU adhesives exhibit excellent flexibility, durability, and strong bonding strength over a wide range of substrates, making them highly in demand in industries such as footwear, automotive, electronics, and textiles. Excellent heat resistance and chemical stability provide reliable performance under the most demanding conditions, whereas elastic properties support applications requiring flexibility, such as wearable devices and flexible packaging. In addition, the increasing global need for lightweight and environment-friendly solutions has increased the demand level as TPU adhesives assist in weight reduction and can be formulated from renewable or recycled resources.
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.
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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.
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.
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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.
Thermoplastic Polyurethane Adhesive Companies
These prominent competitors, along with a slew of others, define the thermoplastic polyurethane adhesive market through ongoing innovation, product launches , partnership, expansion of manufacturing facilities, and worldwide growth strategies. Their contributions propel technological developments, broaden market reach, and shape industry standards, ultimately influencing the future of thermoplastic polyurethane adhesive and their numerous uses., such as include 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). adopt acquisitions, partnership, collaboration, and expansions to increase their market shares and expand their geographic presence.
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. Its primary products include engineering plastics, biodegradable plastics, and polyurethanes. In 2023, the Materials segment reported revenue of USD 15312.8 million, which accounted for 20 % of the company's revenue. The company organizes its operations into five geographical regions: Europe, North America, Asia Pacific, South America, and Africa and the Middle East. In 2023, Europe represented 40% of the company's total revenue, followed by North America at 28%, Asia Pacific at 25%, and South America, Africa, and the Middle East at 7%.
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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. The Lubrizol Additives segment focuses on manufacturing engine and driveline lubricant additives along with industrial specialty products, whereas the Lubrizol Advanced Materials encompasses engineered materials such as polymers and performance coatings, as well as life sciences products for beauty, personal care, and health sectors. The segment also develops materials utilized in various wellness-related applications, including sustainable fabrics for activewear and athletic footwear, as well as innovative chemistry for easy-to-install plumbing systems that ensure safe drinking water is accessible globally. Lubrizol Corporation offers TPU adhesives through the Lubrizol advanced materials segment. Additionally, the company serves customers in more than 100 countries, including the US, Belgium, Brazil, China, France, Germany, India, Japan, Spain, and the UK, among others. The Lubrizol Corporation operates 40 technical facilities, 56 manufacturing sites, and 47 sales offices, primarily in North America, Europe, Asia, and South America.
Covestro AG, established in 2015 and headquartered in Leverkusen, Germany, is among the world's top manufacturers of high-quality polymer materials and their components. The company primarily operates under two business segments: Performance Materials and Solutions & Specialties. It offers TPU adhesives under the Solutions & Specialties segment. The Performance Materials segment focuses on the development, production, and supply of essential materials such as polyurethanes and polycarbonates, including key base chemicals like diphenylmethane diisocyanate (MDI), toluene diisocyanate (TDI), long-chain polyols, and polycarbonate resins. In contrast, the Solutions & Specialties segment encompasses six business entities—Engineering Plastics, Coatings & Adhesives, Tailored Urethanes, Thermoplastic Polyurethanes, Specialty Films, and Elastomer. These materials serve various industries, notably Automotive and Transportation, Furniture and Wood Processing, Construction, Electrical, Electronics, and Household Appliances Industry. It has a global presence and operates in Germany, the US, India, Japan, Taiwan, Italy, ASEAN, China, Spain, Australia, New Zealand, Belgium, and the UK. It operated 50 production sites and 13 research and development facilities distributed across the EMLA (Europe, Middle East, Africa), North America, and Asia-Pacific regions, ensuring efficient supply chains and localized support for its diverse customer base.
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Henkel AG & Co. KGaA, founded in 1876 and headquartered in Dusseldorf, Germany, is a multinational company specializing in chemical and consumer goods. Henkel operates through two main segments: Adhesive Technologies, and Consumer Brands. The Adhesive Technologies unit offers a comprehensive portfolio of high-impact solutions, including adhesives, sealants, and functional coatings, tailored for various industries. It comprises three key areas: Mobility & Electronics, Packaging & Consumer Goods, and Craftsmen, Construction & Professional. The Consumer Brands unit focuses on products such as laundry detergents and household cleaners, as well as hair care products for both consumers and professionals. The company provides TPU adhesives under its Adhesive Technologies segment. In 2023, the Adhesive Technologies unit boasted a robust global production network comprising 122 sites, while the Consumer Brands unit operated 39 sites, with a total of 161 production facilities worldwide. The company’s largest production facilities are in Bowling Green, Kentucky, USA, and Dusseldorf, Germany. Henkel's presence spans multiple regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Wanhua, headquartered in Yantai, China, is a prominent global player in the chemical industry, specializing in the production of polyurethanes and related products. Established in 1998, the company is the largest MDI manufacturer in the world and the only Chinese company with independent intellectual property rights for manufacturing MDI and ADI. The company offers polyurethanes, petrochemicals, performance chemicals, and emerging materials. Wanhua’s extensive portfolio serves various sectors such as homeware and furniture, sports and leisure, automobiles and transportation, building and construction, electronics and electrical appliances, personal care, and green energy. The company offers polyester-based as well as aliphatic-based TPU adhesive under the brand name WANTHANE®. The company has five manufacturing bases located around the world and regional branches in Europe, the Middle East, the US, Japan, Russia, India, and Brazil. It has built six key production complexes in Yantai, Ningbo, Sichuan, Fujian, and Zhuhai in China, and Hungary, which are integrated with complete supporting facilities. To serve customers worldwide with competitive products and comprehensive solutions, the company has established R&D centers in Yantai, Ningbo, and Beijing in China, as well as in North America and Europe, and set up subsidiaries and offices in more than ten countries and regions, including Europe, the US, and Japan.
