Thermoplastic Polyurethane (TPU) Market Size, Share, By Type (Polyester TPU, Polyether TPU, and Polycaprolactone TPU), By Raw Materials (Diisocyanates, Polyols, Diols, Chain extenders, and Additives), By Application (Footwear, Automotive, Industrial, Medical, Electronics, Construction, and Others), and By Region - Trends, Analysis and Forecast till 2034

Thermoplastic Polyurethane (TPU) Market Size was valued at USD 2.7 Billion in 2024 and is expected to reach USD 5.9 Billion by 2034 growing at a CAGR of 9%

Thermoplastic polyurethanes, otherwise known as TPUs, belong to a special class of plastic produced using polyaddition reactions of diisocyanates with one or more diols. The term 'thermoplastic' refers to a material that gets soft and pliable on heating and hardens on cooling. Such materials can be melted and molded several times and can be reprocessed any number of times without undergoing any loss in their structural integrity. The term polyurethane represents one particular kind of useful polymer bonded with urethane monomers, which are a byproduct of the reaction between an isocyanate and a polyol.

Thermoplastic polyurethane combines the useful properties of polyurethane products with the usabilities and processable characteristics of thermoplastics to form a plastic material ideal for use in a very wide array of fields and industries. Handily, TPU can be either extruded or injection molded in conventional thermoplastic manufacturing equipment. Therefore, many clear advantages and useful properties of TPUs include their abrasion resistance, elasticity, resistance to oils, greases at a wide temperature range, impact resistance, flexibility, and, very importantly, the ideal thermoplastic for low-temperature applications where abrasion resistance and flexibility are required. Thermoplastic urethanes are prepared by condensation of a polyol, typically a long-chain diol, with a short-chain diol as the chain extender and a diisocyanate. In this process, an alternating chain is formed with two substituents called hard and soft blocks.  The hard block of a TPU, which is a short segment, is a folk of the chain extender and the diisocyanate and provides, a rigid polar backbone for the plastic. This results in mechanical stiffness and strength. Of the diisocyanates for TPU, the most widely applied is methylene diisocyanate (MDI), while 1,4-butanediol (BDO) represents the most common chain extender.

TPUs find use in a wide range of very different applications or products. Marketplace applications demand TPUs when consumers seek flexible plastics and weather resistance; these would be such items as wheels, boots, housing, piping and tubing, rafts or phone cases, and many others. This TPU's ability to melt and extrude lends it ideally to the developing industry of 3D printing. Also, the possible ways or methods of using TPU in 3D printing include extrusion in filament form through a printer head and deposition in fused filament deposition printing, or with techniques like laser sintering or 3D inkjet printing. Many benefits of TPU make it significant with numerous market uses. Due to the customizability and variation associated with the swapping out of different chemical compounds within the hard block, soft block, and chain extension components of the polyurethane, there are many ways to assemble a TPU that best suits the needs of the application. The ability of TPUs to be tailored for their target environment, combined with tensile strength coupled with flexibility, creates the perfect, customizable thermoplastic for aggressive and low-temperature environments and applications. With its high abrasive and chemical resistance and good tensile strength, the polyester-based TPU shows excellent suitability for automotive parts and parts in industrial machines. These polyether-based TPUs have high flexibility in a wide temperature range and show significant hydrolysis and microbial resistances that can be exploited for medical applications.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Key Drivers of Target Market:

Growing Demand from Key Industries

• Versatility is one of the prime factors for TPU. This is because TPU is approached with growing interest by industries like footwear, automotive, and medical due to its remarkable properties that fulfill their requirement needs. In the case of footwear, for example, TPU offers superb durability and flexibility that would otherwise make for a very long life and comfort in shoes. TPU's resistance to oils, abrasion, and weather in the automotive industries makes it perfect for hoses, belts, and cables that should remain intact under tough operating conditions. Similarly, TPU is used for catheters and other medical implements in medicine due to the biocompatibility and sterility of the material.

Growing Environmental Concerns:

• Other positive influences include the eco-friendly material push. The growth of increasing interest and increased opportunities in several applications through biodegradable grades of TPU is already in the works. An example of fast-tracking in the industry is the packaging industry, which is looking at using bio-based TPU films for compostable food pouches and associated sustainable solutions for packaging. Fashion brands use TPU in their eco-conscious clotheslines, such as vegan leather jackets and sneakers with upcycled TPU.

Restrains:

High Manufacturing Costs:

• That is also a multi-step process involving polymerization, extrusion, and injection molding for TPU production. Unique equipment and skilled labor are needed to guarantee the same quality. The interaction of these features increases the manufacturing cost over conventional materials like PVC or vinyl. This can constrain the potential for diffusion into cost-sensitive applications where bulk uses or less demanding end-use products are involved. This high initial investment in TPU processing machinery could discourage new entrants into the market and further competition and innovation.

Opportunities:

Sustainability Drive:

• Rising concerns for the environment are increasing the demand for green materials. Biodegradable TPU grades come to the front line, opening applications in packaging, textiles, and footwear. Think of compostable food pouches or shoes made from recycled TPU! However, these are only some of the first applications that come to mind. For the automotive industry, this could include the investigation of certain bio-based TPU applications for interior parts or tires. In the construction sector, TPU uses can be oriented to roofing membranes and other components, each with specific enhancements to promote biodegradability at the end-of-life phase. In this perspective, the potential for TPU in green building materials is very good.

The market is segmented based on Type, Raw Materials, Application, and Region.

Type Insights:

• Polyester TPU: Polyester thermoplastic polyurethane (polyester TPU) belongs to a class of polyurethane plastics with very favorable physical properties; it resists oil and grease and is abrasion-resistant. Polyesters require the ester functional group in the main chain and, depending on their chemical composition, may also be classified as one type of thermoset polymer.
• Polyether TPU: High-strength properties of the polyether thermoplastic polyurethane class make it extremely resistant to oil, grease, and abrasion. Normally, polyethers are any polymers whose chain contains primary ether functionality. Special grades of Polyether TPUs also come with enhanced resistance to weak acids/bases, microbial attack, and moisture/humidity.
• Polycaprolactone TPU: Polycaprolactone Thermoplastic Polyurethane is a class of polyurethane plastics noted for its great variety of desirable properties, including their resistance to oil, grease, and abrasion. Polycaprolactone TPUs can be made with low molecular weight distribution, low acid value, and excellent end-termination functionality. Polycaprolactone TPUs deliver overall performance between polyester and polyether-based TPUs.

Raw Materials Insights:

• Diisocyanates: It is the major component in making TPU with the reaction by the polyols to form the backbone polymer. The commonly used diisocyanates are MDI, Methylene Diphenyl Diisocyanate, and TDI, Toluene Diisocyanate; it affects the hardness and rigidity of the final TPU product.
• Polyols: These long-chain molecules define the soft segment of TPU and hence are responsible for flexibility and resistance to impact. There are two main types: polyether polyols and polyester polyols, both of which impart quite different properties to the TPU.
• Diols: Also called chain extenders, diols link with diisocyanates and polyols to increase molecular weight, hence improving properties such as strength and elasticity. Butanediol and ethylene glycol are common diols.
• Chain Extenders: Chain extenders are small molecules that can react with the diisocyanates to lengthen the chains of the polymer, providing a TPU with good mechanical properties and high thermal stability. They are thus essential to achieve a desired balance between hardness and elasticity.
• Additives: The addition of some additives, which may include stabilizers, pigments, and flame retarders, into TPU adjusts specific properties such as UV resistance, color, and fire resistance, allowing the materials to find use in special applications.

Application Insights:

• Footwear: Due to the flexibility, durability, and comfort of TPU, it has a very wide usage in shoes. This includes some cushioning and support in the soles of shoes, upper material due to light and strong nature, and other uses.
• Automotive: TPU is used owing to its abrasion resistance and elasticity and can withstand nasty environmental conditions in parts of both the interior and exterior of an automobile. Typical applications include gaskets, seals, and protective coatings.
• Industrial: TPU finds industrial applications in conveyor belts, hoses, and seals. Due to its resistance to wear and chemical and oil attacks, it is used in very demanding environments that require durability and high performance.
• Medical: TPU, due to its biocompatibility conferring on it features of flexibility and strength, is indicated for medical devices such as catheters, tubing, and surgical instruments. The fact that it undergoes sterilization without degradation makes it reliable and safe for this field of application.
• Electronics: TPU finds application in electronics for cable insulation, connectors, and protective cases. It has very good electrical properties associated with flexibility and resistance to impact. This protects and gives a long life to sensitive electronic components.
• Construction: Waterproof membranes, sealants, and coatings used in construction are made from TPU. It is useful for improving the service life and performance of construction materials because of its durability, resistance to bad weather, and flexibility.
• Others: Other TPU uses come in the form of sporting equipment, consumer goods, and textiles. It finds its use in a diversified spectrum of products that require comfort, durability, and aesthetic features.

Regional Insights

• North America: Demand in North America is generally supported by the excellent demand created in the automotive, electronics segment and healthcare industries. Besides, technological innovations acted as the mainstay force with a large, well-developed manufacturing base to reckon with in this regional market.
• Asia Pacific: The TPU market is likely to see rapid growth in this region, especially in China and India, due to increasing industrialization, urbanization, and consumer expenditure. Major growth in the automotive and construction sectors is being observed in this region, which is significantly boosting demand for the TPU material.
• Europe: It represents a large consuming market of TPU in Europe, with applications covering the automotive and footwear industries to the medical ones. Demand has also been driven by stringent regulations and a focus on sustainability, which raises the development of eco-friendly TPU materials.
• Latin America: The market for TPU in Latin America has recorded steady growth due to strong demand from several end-use industries, including automobiles and construction. The economic development and rising infrastructure projects in countries like Brazil and Mexico support market growth.
• Middle East and Africa: The TPU market in the Middle East & Africa is still developing, along with prospects in the construction, automotive, and healthcare sectors. Economic diversification and boosting infrastructure development have an impact on the growth trajectory of the market.

Thermoplastic Polyurethane (TPU) Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Type, Raw Materials, Application, and Region.

By Type:

• Polyester TPU
• Polyether TPU
• Polycaprolactone TPU

By Raw Materials:

• Diisocyanates
• Polyols
• Diols
• Chain extenders
• Additives

By Application:

• Footwear
• Automotive
• Industrial
• Medical
• Electronics
• Construction
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of the Middle East & Africa

The key players operating the Thermoplastic Polyurethane (TPU) Market include BASF SE, The Lubrizol Corporation, Covestro AG, Huntsman Corporation, Wanhua Chemical Group Co. Ltd., American Polyfilm, Inc., Epaflex Polyurethanes SpA, COIM Group, Mitsui Chemicals, Inc., Avient Corporation, Kent Elastomer Products, AMERICAN POLYFILM, INC., and Entec Polymers.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In January 2024, BASF launched a material production unit in Zhanjiang. BASF, a German chemicals company, announced the opening of a thermoplastic polyurethane (TPU) facility on Thursday, the second plant to be built at the 10-billion-euro ($10.9 billion) Verbund complex in Zhanjiang, Guangdong Province. The new plant will better enable BASF to fulfill expanding demand in Asia-Pacific, particularly in the industrial, e-mobility, and new energy sectors, said Martin Jung, president of BASF's performance materials division, at a ceremony in Zhanjiang on Thursday.
• In September 2023, Trinseo launched a transparent thermoplastic elastomer. Trinseo, a materials solutions company, has introduced a new transparent thermoplastic elastomer (TPE) grade for footwear applications. The APILON 52 XB-75A CRISTALLO is Trinseo's first ester-based transparent thermoplastic polyurethane (TPU), and the company describes it as a significant addition to its increasing line of fashion and footwear solutions. APILON 52 XB-75A CRISTALLO, a new grade, will enter the market in 2023.Simac Tanning Tech is an expo for footwear and apparel in Milan, Italy.

• BASF SE *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• The Lubrizol Corporation
• Covestro AG
• Huntsman Corporation
• Wanhua Chemical Group Co. Ltd.
• American Polyfilm, Inc.
• Epaflex Polyurethanes SpA
• COIM Group
• Mitsui Chemicals, Inc.
• Avient Corporation
• Kent Elastomer Products
• AMERICAN POLYFILM, INC.
• Entec Polymers

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Research Objectives
• Assumptions
• Abbreviations

Market Preview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Market Snippet, By Type
  • Market Snippet, By Raw Materials
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restraints
  • Market Opportunities
• Market Trends
• Product Launch
• Merger and Acquisitions
• Impact Analysis
• PEST Analysis
• Porter’s Analysis

Market Segmentation, Type, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Polyester TPU
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Polyether TPU
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Polycaprolactone TPU
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Raw Materials, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Diisocyanates
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Polyols
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Diols
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Chain extenders
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Additives
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, Application, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Footwear
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Automotive
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Industrial
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

• Medical
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Electronics
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Construction
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Others
  • Overview
  • Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn)

• Overview
  • Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Raw Materials, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Raw Materials, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Raw Materials, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Raw Materials, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Raw Materials, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles

• BASF SE
• The Lubrizol Corporation
• Covestro AG
• Huntsman Corporation
• Wanhua Chemical Group Co. Ltd.
• American Polyfilm, Inc.
• Epaflex Polyurethanes SpA
• COIM Group
• Mitsui Chemicals, Inc.
• Avient Corporation
• Kent Elastomer Products
• AMERICAN POLYFILM, INC.
• Entec Polymers.

The Last Word

• Future Impact
• About Us
• Contact