TPU Adhesive Market to Reach $1.76 B by 2029, 6.7 % CAGR

The report, “Thermoplastic Polyurethane Adhesive Market by Type (Hot‑Melt, Solvent‑Based), Form (Granular, Powder, Liquid), End‑Use Industry (Packaging, Textile, Consumer Goods, Automotive) – Global Forecast to 2029,” projects the market to expand from USD 1.27 billion in 2024 to USD 1.76 billion by 2029, a compound annual growth rate (CAGR) of 6.7 %.

Thermoplastic polyurethane (TPU) adhesive is valued for its elasticity, durability, and chemical resistance—qualities sought in footwear, textiles, automotive, and electronics. Rising demand for lightweight, durable, and sustainable products, coupled with advancements in adhesive technology, is driving wider TPU adoption in emerging areas such as wearable devices and renewable‑energy components.

Key Players
The Lubrizol Corporation (US) · BASF (Germany) · Covestro AG (Germany) · Huntsman International (US) · Wanhua (China) · DIC Corporation (Japan) and others.

Recent Developments

May 2024: Plastipak & Kraft Heinz convert mayo packaging to rPET.
Jul 2024: Henkel completes Loctite plant near Pune, India.
May 2024: Lubrizol debuts Pearlbond™ ECO 590 HMS TPU with 59 % renewable content.
Jan 2024: BASF opens its largest TPU line in Zhanjiang, China.
Oct 2023: Covestro boosts TPU‑film capacity at Bomlitz, Germany.
Oct 2023: Wanhua launches WANTHANE™ WHT‑6672P anti‑yellowing hot‑melt TPU for footwear.
Oct 2022: Wanhua and Agilis unveil a digital portal for global TPU sales.
Aug 2022: Lubrizol adds a new TPU line in Shanghai, China.
Jun 2022: Henkel opens a 30 000 m² hot‑melt plant in Nuevo León, Mexico.

Regional Insight
Europe is forecast as the second‑largest region for TPU adhesives, thanks to its strong industrial base, technology leadership, and strict sustainability regulations (e.g., REACH, European Green Deal) that favor low‑VOC, recyclable bonding solutions.