Thermoplastic Polyurethane (TPU) Market

By Technology;

Injection Molding, Extrusion, Blow Molding, Solvent Casting, Lamination and Others

By Raw Material;

Polyols, Diisocyanates, Diols and Adipic Acid

By Type;

Polyester, Polyether, Polycaprolactone and Polycarbonate-Based TPU

By End-Use;

Footwear [Shoes, Soles and Slippers], Industrial Machinery [Seals & Gaskets, Wheels & Rollers, Hoses & Tubes and Belts & Profiles], Automotive & Transportation [Interior Automotive Parts and Exterior Automotive Parts], Electronics [Wires & Cables, Telecommunications and Electrical Devices], Medical [Catheters, Medical Devices and Wound Care Products] and Others

By Geography;

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


Thermoplastic Polyurethane (TPU) Market

*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

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.

Thermoplastic Polyurethane (TPU) Market Key Takeaways

  • The global Thermoplastic Polyurethane (TPU) market is anticipated to grow steadily between 2025 and 2035, driven by expanding applications in automotive, footwear, electronics, and medical devices, along with rising demand for lightweight and durable materials.

  • Automotive applications represent a major growth segment as manufacturers increasingly adopt TPU for interior parts, instrument panels, seals, and cable insulation due to its superior abrasion resistance and flexibility.

  • The footwear industry continues to be a significant consumer of TPU materials, leveraging its properties for high-performance soles, cushioning systems, and sportswear components that enhance durability and comfort.

  • Electronics and consumer goods are witnessing rising TPU adoption for protective cases, wire coatings, and flexible connectors, owing to its excellent impact strength, chemical resistance, and transparency.

  • In the medical sector, TPU is gaining prominence as a preferred alternative to PVC and silicone for catheters, tubing, and wearable devices, driven by its biocompatibility and ability to withstand sterilization processes.

  • Asia-Pacific dominates the global TPU market and is projected to maintain the fastest growth rate, supported by rapid industrialization, expanding manufacturing bases, and rising investments in 3D printing technologies and smart materials.

  • Key market challenges include volatile raw material prices (especially polyols and diisocyanates) and the need for sustainable TPU production methods to align with global environmental and recycling initiatives.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Technology
    2. Market Snapshot, By Raw Material
    3. Market Snapshot, By Type
    4. Market Snapshot, By End-Use
    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

    2. PEST Analysis

      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. 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 Technology, 2021 - 2031 (USD Million)
      1. Injection Molding
      2. Extrusion
      3. Blow Molding
      4. Solvent Casting
      5. Lamination
      6. Others
    2. Thermoplastic Polyurethane (TPU) Market, By Raw Material, 2021 - 2031 (USD Million)
      1. Polyols
      2. Diisocyanates
      3. Diols
      4. Adipic Acid
    3. Thermoplastic Polyurethane (TPU) Market, By Type, 2021 - 2031 (USD Million)
      1. Polyester
      2. Polyether
      3. Polycaprolactone
      4. Polycarbonate-Based TPU
    4. Thermoplastic Polyurethane (TPU) Market, By End-Use, 2021 - 2031 (USD Million)
      1. Footwear
        1. Shoes
        2. Soles
        3. Slippers
      2. Industrial Machinery
        1. Seals & Gaskets
        2. Wheels & Rollers
        3. Hoses & Tubes
        4. Belts & Profiles
      3. Automotive & Transportation
        1. Interior Automotive Parts
        2. Exterior Automotive Parts
      4. Electronics
        1. Wires & Cables
        2. Telecommunications
        3. Electrical Devices
      5. Medical
        1. Catheters
        2. Medical Devices
        3. Wound Care Products
      6. 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. BASF SE
      2. The Lubrizol Corporation
      3. Covestro AG
      4. Avient Corporation
      5. Wanhua Chemical Group Co., Ltd.
      6. Huntsman International LLC
      7. COIM Group
      8. Tosoh Corporation
      9. Sumei Chemical Co., Ltd.
      10. Epaflex Polyurethanes SpA
      11. Miracle Chemicals Co. Ltd.
      12. Dongsung Corporation
      13. Hexpol AB
      14. American Polyfilm, Inc.
      15. KRAIBURG TPE GmbH & Co. KG
  7. Analyst Views
  8. Future Outlook of the Market