(MENAFN- GlobeNewsWire - Nasdaq) This report segments the market for Thermoplastic polyurethane adhesive market on the basis of type, form, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, and expansions associated with the market for thermoplastic polyurethane adhesive market.

Dublin, Jan. 17, 2025 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The thermoplastic polyurethane adhesive market 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.
Growth in the TPU adhesive market is mainly driven by increasing demand in industries such as construction, electronics, footwear, and automotive due to excellent properties such as flexibility and durability, along with abrasive and chemical resistance. Moreover, rising awareness of environmental-friendly and sustainable adhesives is also fueling up the demand, as low VOC emissions and recyclable properties are associated with the TPU adhesives. Advances in manufacturing processes as well as the growth of e-commerce are also boosting packaging applications while innovations in product formulations enhance their applicability across many sectors.

Hot melt adhesive accounted for the fastest growing in type segment of thermoplastic polyurethane adhesive market in terms of value.
The hot melt adhesive segment is the fastest-growing in the TPU adhesive market, primarily because of its excellent versatility and performance across diverse industries. TPU-based hot melt adhesives provide superior flexibility, excellent adhesion to a variety of substrates, and resistance to environmental factors such as moisture and temperature fluctuations. The increasing demand for sustainable and eco-friendly adhesive solutions further promotes the use of TPU hot melt adhesives, since they are solvent-free and result in minimal volatile organic compounds (VOCs).
Besides, they cure rapidly, and it is easy to apply, thus improving the productivity in the manufacturing processes to match the growing demands for efficiency in industrial operations. Other emerging trends, like lightweight materials in automotive and electronic device assembly, also drive the popularity of TPU hot melt adhesives because they offer reliable bonding without adding much weight. In addition, advancements in TPU formulations have improved heat resistance and durability, thus expanding their applicability in high-performance sectors.
Granular accounted for the fastest growing in form segment of thermoplastic polyurethane adhesive market in terms of value.
The granular form segment is the fastest-growing due to convenience, versatility, and compatibility with a vast number of processing techniques. Granules are easy to handle, transport, and store, which makes manufacturers prefer them. This form has a possibility of precise dosing, thus minimizing material waste, which ensures that the adhesives have a consistent quality that is crucial for industries like footwear, packaging, automotive, and electronics. The granules of TPU are specifically designed for the application in extrusion and injection molding. They ensure easy processing, and thus complex adhesive parts can be easily produced. Also, in granular form, adhesive properties like flexibility, durability, heat, and chemical resistance can be tailored according to the requirements of specific industries.
Consumer goods accounted for the for the fastest growing in end-use industries segment of thermoplastic polyurethane adhesive market in terms of value.
The consumer goods sector is the fastest growing segment in the TPU adhesives market because versatile, durable, and environmental adhesive solutions are in high demand. As consumers increasingly purchase goods that are of high-quality, lightweight, and aesthetically appealing, TPU adhesives have become absolutely vital for enabling innovative designs with enhanced product performance. This trend is further fueling consumer goods, which in turn have driven demand for robust packaging and labeling solutions, for which TPU adhesives can easily suffice. The technology advancement in the formulations of TPU adhesives has improved their usage in wearable electronics, sports equipment, and lifestyle products that are gaining pace in the market.
Asia pacific is the fastest growing market for thermoplastic polyurethane adhesive .
The Asia-Pacific region is the fastest growing market for TPU adhesives, owing to robust industrial growth, rising urbanization, and a growing demand in key sectors for high-performance adhesives. The construction industries in countries such as China, India, and Vietnam represent a significant source of demand for TPU adhesives due to their durability and flexibility and resistance to environmental impacts. In addition, the growth of the electronics and footwear industries in the region creates more demand, as TPU adhesives are highly suitable for bonding complex components and providing product durability. Low manufacturing costs and the availability of key players in the region promote local production and strengthen the supply chain, which also accelerates the growth of the market.

The Thermoplastic polyurethane adhesive market comprises major players including 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). The study includes in-depth competitive analysis of these key players in the Thermoplastic polyurethane adhesive market, with their company profiles, recent developments, and key market strategies.
The report provides insights on the following:

• Analysis of drivers: (Rising demand in automotive for durable and flexible bonding solutions), restraints (Availability of cheaper alternatives like acrylic and epoxy adhesives), opportunities (Development of bio-based TPU adhesives for environmentally conscious industries), and challenges (Complex manufacturing processes requiring specialized expertise and equipment) influencing the growth of Thermoplastic polyurethane adhesive market.
• Market Penetration: Comprehensive information on the thermoplastic polyurethane adhesive market offered by top players in the global thermoplastic polyurethane adhesive market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, in the thermoplastic polyurethane adhesive market.
• Market Development: Comprehensive information about lucrative emerging markets the report analyzes the markets for thermoplastic polyurethane adhesive market across regions.
• Market Capacity: Production capacities of companies producing thermoplastic polyurethane adhesive are provided wherever available with upcoming capacities for the thermoplastic polyurethane adhesive market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the thermoplastic polyurethane adhesive market.

Key Attributes:

Report Attribute	Details
No. of Pages	262
Forecast Period	2024 - 2029
Estimated Market Value (USD) in 2024	$1.02 Billion
Forecasted Market Value (USD) by 2029	$1.41 Billion
Compound Annual Growth Rate	6.7%
Regions Covered	Global

Key Topics Covered:
Premium Insights

• Attractive Opportunities for Players in Thermoplastic Polyurethane Adhesive Market
• Thermoplastic Polyurethane Adhesive Market, by Type
• Thermoplastic Polyurethane Adhesive Market, by End-use Industry
• Thermoplastic Polyurethane Adhesive Market, by Country

Market Dynamics

Drivers

• Rising Demand for TPU Adhesives as Durable and Flexible Bonding Solutions in Automotive Sector
• Excellent Adhesion to Diverse Materials (Leather, Metals, Plastics, and Fabrics)

Restraints

• Availability of Low-Cost Alternatives (Acrylic and Epoxy Adhesives)
• High Viscosity Associated with Thermoplastic Hotmelt Adhesives

Opportunities

• Development of Bio-based TPU Adhesives for Environmentally Conscious Industries and Sectors
• Integration of TPU Adhesives into Smart Textiles and Wearables To Enhance Bonding and Flexibility

Challenges

• Complex Manufacturing Processes Requiring Specialized Expertise and Equipment

Case Study Analysis

• Synthesis and Optimization of Dual-Curing Thermoplastic Polyurethane Hotmelt Adhesive for Seamless Bonding In Textiles Industry
• TPU-Assisted Adhesive PDMs Film for Versatile Bonding In Dry and Underwater Environments

Thermoplastic Polyurethane Adhesive Market, by Type

• Hotmelt Adhesives
  • Outstanding Adhesive Properties, Fast Setting Time, and Versatility to Drive Demand
• Solvent-based Adhesives
  • High Elasticity and Low-Temperature Resistance to Propel Demand
• Water-based Adhesives
  • Lower Carbon Footprint, Higher Flexibility and Strength, and Abrasion Resistance to Fuel Demand
• Other Types
  • Hydrophobic Adhesives
  • UV-Curable Adhesives

Thermoplastic Polyurethane Adhesive Market, by Form

• Granular
  • Ease of Handling, Fast Setting Time, and Strong Bonding Capabilities to Drive Demand
• Powder
  • Ability to Form Strong Bond Without Use of Extra Solvents Or Complicated Curing Processes to Fuel Demand
• Liquid
  • High Strength, Thermal Stability, and Sustainability for Modern Manufacturing to Propel Demand

Thermoplastic Polyurethane Adhesive Market, by End-use Industry

• Packaging
  • Rising Consumer Preference for Sustainable Packaging To Boost Demand
• Automotive
  • Ability to Provide Strong, Durable Bonds Without Adding Significant Weight to Drive Demand
• Building & Construction
  • Enhancement of Building Material Performance with Superior Bonding Strength to Fuel Demand
• Electronics
  • Electrical Insulation and Moisture Resistance Features To Drive Demand
• Consumer Goods
  • Excellent Adhesion to Various Materials, Including Fabrics, Leather, Rubber, Plastics, and Metals, to Drive Demand
• Textiles
  • Seamless Textile Bonding Without Compromising Fabric's Softness, Stretchability, or Breathability to Fuel Demand
• Other End-use Industries
  • Medical & Healthcare
  • Aerospace

Company Profiles

Key Players

• BASF
• The Lubrizol Corporation
• Covestro AG
• Huntsman International LLC
• Wanhua
• Henkel
• H.B. Fuller
• Dic Corporation
• Shandong Inov Polyurethane Co. Ltd.
• Arkema
• Nanpao Resins Chemical Group
• Huafon

Other Players

• Gerlinger Industries GmbH
• Great Eastern Resins Industrial Co. Ltd.
• Miracll Chemicals Co. Ltd.
• Taiwan Pu Corporation
• Tianyang New Materials (Shanghai) Technology Co. Ltd.
• Coating P. Materials Co. Ltd.
• Guangdong Suntip New Material Co. Ltd.
• Sundow Polymers Co. Ltd.
• Dongsung
• Yantai Linghua New Material Co. Ltd.
• Xiamen Keyuan Plastic Co. Ltd
• Sun Yang Global Co. Ltd.
• Abifor
• Epaflex Polyurethanes Spa
• Taiwan Free Radical P.M. Co. Ltd.

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• Thermoplastic Polyurethane Adhesive Market

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