Global Thermoplastic Polyurethane (Tpu) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Raw Material;

Diisocyanates, Polyols, and Diols

By Type;

Polyester, Polyether, and Polycaprolactone

By Application;

Footwear, Automotive, Building & Construction, Engineering, Wires & Cables, Medical, and Others

By End-User Industry;

Consumer Goods, Industrial, Automotive, Electronics, and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn404310223 Published Date: May, 2025 Updated Date: June, 2025

Thermoplastic Polyurethane (Tpu) Market Overview

Thermoplastic Polyurethane (Tpu) Market (USD Million)

Thermoplastic Polyurethane (Tpu) Market was valued at USD 2,790.38 million in the year 2024. The size of this market is expected to increase to USD 4,279.54 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.3%.


Global Thermoplastic Polyurethane (Tpu) Market Growth, Share, Size, Trends and Forecast

*Market size in USD million

CAGR 6.3 %


Study Period2025 - 2031
Base Year2024
CAGR (%)6.3 %
Market Size (2024)USD 2,790.38 Million
Market Size (2031)USD 4,279.54 Million
Market ConcentrationMedium
Report Pages336
2,790.38
2024
4,279.54
2031

Major Players

  • Hexpol Ab
  • Avery Dennison Corporation
  • Huntsman International Llc
  • Avient Corporation
  • Tosoh Corporation
  • American Polyfilm, Inc.
  • Api
  • Basf Se
  • Coim Group
  • Covestro Ag
  • Kolon Industries, Inc.
  • Taiwan Pu Corporation

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Global Thermoplastic Polyurethane (Tpu) Market

Fragmented - Highly competitive market without dominant players


The Thermoplastic Polyurethane (TPU) Market is experiencing consistent growth, driven by its high elasticity, abrasion resistance, and flexibility. These properties make TPU a preferred material for various industries, including automotive, footwear, electronics, and medical devices. Currently, over 40% of TPU consumption is directed towards the automotive sector, where it is widely used for interior components and protective coatings due to its durability and impact resistance.

Growing Preference for High-Performance Polymers
With industries increasingly prioritizing lightweight and durable materials, TPU stands out for its superior temperature tolerance, chemical resistance, and flexibility. The footwear industry alone accounts for nearly 30% of global TPU demand, reflecting its critical role in sporting goods, protective gear, and specialty footwear production.

Technological Advancements Boosting Market Growth
Ongoing R&D investments are driving the development of innovative TPU grades with enhanced durability and customization. Approximately 15% of recent TPU innovations focus on customizable formulations, catering to specific performance requirements in 3D printing, automotive exteriors, and flexible electronics.

Market Outlook
The TPU Market is poised for robust growth as industries continue to prioritize high-performance, sustainable solutions. With increasing demand from key sectors like automotive, electronics, and footwear, TPU is set to remain a critical material for next-generation applications, supporting future innovation and market expansion.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Raw Material
    2. Market Snapshot, By Type
    3. Market Snapshot, By Application
    4. Market Snapshot, By End-User Industry
    5. Market Snapshot, By Region
  4. Thermoplastic Polyurethane (Tpu) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increased footwear and apparel applications

        2. Growth in automotive interior components

        3. Demand in consumer electronics casings

        4. Rise in industrial protective gear

      2. Restraints
        1. High manufacturing process complexity

        2. Fluctuation in raw material pricing

        3. Limited performance in extreme heat

        4. Environmental impact of TPU disposal

      3. Opportunities
        1. Biodegradable TPU innovation emerging

        2. Growth in flexible electronics industry

        3. Expansion in medical tubing solutions

        4. Increasing usage in sports accessories

      PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    2. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Thermoplastic Polyurethane (Tpu) Market, By Raw Material, 2021 - 2031 (USD Million)
      1. Diisocyanates
      2. Polyols
      3. Diols
    2. Thermoplastic Polyurethane (Tpu) Market, By Type, 2021 - 2031 (USD Million)
      1. Polyester
      2. Polyether
      3. Polycaprolactone
    3. Thermoplastic Polyurethane (Tpu) Market, By Application, 2021 - 2031 (USD Million)
      1. Footwear
      2. Automotive
      3. Building & Construction
      4. Engineering
      5. Wires & Cables
      6. Medical
      7. Others
    4. Thermoplastic Polyurethane (Tpu) Market, By End-User Industry, 2021 - 2031 (USD Million)
      1. Consumer Goods
      2. Industrial
      3. Automotive
      4. Electronics
      5. Others
    5. Thermoplastic Polyurethane (Tpu) Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Hexpol Ab
      2. Avery Dennison Corporation
      3. Huntsman International Llc
      4. Avient Corporation
      5. Tosoh Corporation
      6. American Polyfilm, Inc.
      7. Api
      8. Basf Se
      9. Coim Group
      10. Covestro Ag
      11. Kolon Industries, Inc.
      12. Taiwan Pu Corporation
  7. Analyst Views
  8. Future Outlook of the Market