Thermoplastic Polyurethane Material Market Report 2025 (Global Edition)

Global Thermoplastic Polyurethane Material Market Report 2025 Market Size Split by Type (Polyester, Polyether, Polycaprolactone, Polycarbonate-based TPU), by End-use Industry (Footwear, Industrial Mac...

Thermoplastic Polyurethane Material Market Report Description

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Competitive Landscape of the Thermoplastic Polyurethane Material Market

Product innovation, strategic partnerships, and a focus on sustainability influence market dynamics. Growing demand in automotive, footwear, and industrial applications drives market competitiveness, fostering continuous advancements and expansion.

• In August 2020, BASF SE propounded a collaboration with Maincal, Argentina's leading safety footwear manufacturer. The two companies collaborated to launch South America's first safety shoe made with Infinergy.

(Source: https://www.basf.com/global/en/media/news-releases/2020/08/p-20-286.html)

Top Companies Market Share in Thermoplastic Polyurethane Material Industry: (In no particular order of Rank)

• The Lubrizol Corporation
• Covestro AG
• Huntsman International LLC
• Wanhua Chemical Group Co. Ltd
• BASF SE
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America dominated the market in 2024 and accounted for around 40% of the global revenue due

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the Region's strong industrial and automotive sectors. The demand for TPU is driven by its versatile applications in manufacturing processes and product development. Stringent environmental regulations promoting sustainable and eco-friendly materials further boost the market. Additionally, the Region's focus on technological advancements and innovation in TPU manufacturing processes enhances competitiveness. North America's TPU market is poised for sustained expansion, driven by industrial growth, technological advancements, and regulatory support.

Europe is the fastest-growing Region due to expanding applications in the automotive, footwear, and industrial sectors. The Region's stringent environmental regulations favor TPU's recyclability and sustainability. Rising demand for lightweight, durable materials in manufacturing processes bolsters TPU adoption. Additionally, TPU's versatility in responding to dynamic market needs positions it favorably in Europe. As the Region emphasizes technological advancements and eco-friendly solutions, the Thermoplastic Polyurethane market is poised for continued expansion in Europe.

The current report Scope analyzes Thermoplastic Polyurethane Material Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Thermoplastic Polyurethane Material

According to Cognitive Market Research, the global Thermoplastic Polyurethane Material market size was estimated at USD 2815.2 Million, out of which North America held the major market of more than 40% of the global revenue with market size of USD 1126.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031 due to the increasing demand in automotive, footwear, and industrial applications fuels market growth. TPU's versatility, offering high-performance attributes like flexibility, durability, and chemical resistance, enhances its adoption. Growing awareness of sustainable and recyclable materials further boosts market expansion. Additionally, advancements in manufacturing technologies contribute to the rising prominence of TPU in various sectors, consolidating its position in North America's materials market.

Europe Thermoplastic Polyurethane Material

According to Cognitive Market Research, the global Thermoplastic Polyurethane Material market size was estimated at USD 2815.2 Million, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD 844.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031 due to increasing demand in automotive, footwear, and industrial applications. The Region's focus on sustainable and lightweight materials and TPU's versatility fuel market growth. TPU's excellent abrasion resistance, flexibility, and environmental benefits contribute to its widespread adoption. Additionally, advancements in manufacturing technologies and rising awareness of TPU's benefits among end-users further stimulate European market expansion.

Asia Pacific Thermoplastic Polyurethane Material

According to Cognitive Market Research, the global Thermoplastic Polyurethane Material market size was estimated at USD 2815.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 647.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031 due to increasing demand in diverse industries like automotive, footwear, and electronics. The robust growth is attributed to TPU's exceptional properties, including flexibility, durability, and chemical resistance. Rising consumer awareness regarding sustainable and eco-friendly materials further fuels the market. Additionally, innovations in TPU manufacturing processes and applications contribute to its widespread adoption across the Asia-Pacific, making it a pivotal region for the growth of the TPU material market.

South America Thermoplastic Polyurethane Material

According to Cognitive Market Research, the global Thermoplastic Polyurethane Materials market size was estimated at USD 2815.2 Million, out of which Latin America market has more than 5% of the global revenue with a market size of USD 140.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031 due to rising demand across diverse industries. Key drivers include TPU's versatility, durability, and flexibility, making it suitable for automotive, footwear, and electronics applications. Additionally, the Region's expanding manufacturing sector and increasing consumer awareness of sustainable materials contribute to market expansion. The TPU market in Latin America is poised for further advancement, propelled by ongoing industrialization and a focus on innovative, eco-friendly solutions.

Middle East Thermoplastic Polyurethane Material

According to Cognitive Market Research, the global Thermoplastic Polyurethane Material market size was estimated at USD 2815.2 Million, out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 56.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031 due to increasing demand for versatile, durable, and eco-friendly materials across industries. Factors such as rapid industrialization, growing automotive and construction sectors, and the emphasis on lightweight and high-performance materials fuel the TPU market in the Region. Additionally, TPU's ability to replace traditional materials in various applications contributes to its market expansion, reflecting a dynamic landscape shaped by innovation and sustainability initiatives.

Thermoplastic Polyurethane Material Market Analysis

Type Segment Analysis

According to Cognitive Market Research, polyester thermoplastic polyurethane materials held the major market share over the forecast period. These TPUs are known for their excellent chemical and abrasion resistance, making them suitable for applications requiring durability and toughness. They are used extensively in automotive, footwear, and industrial goods.

Polyether thermoplastic polyurethane materials are the fastest-growing category over the forecast period. These TPUs are valued for their superior flexibility and resistance to microbial attack, making them ideal for medical devices, sports equipment, and adhesive applications

• Polyester
• Polyether
• Polycaprolactone
• Polycarbonate-based TPU

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Thermoplastic Polyurethane Material Industry. Request a Free Sample PDF!

End-user Segment Analysis

According to Cognitive Market Research, footwear thermoplastic polyurethane materials held the major market share over the forecast period. In the footwear sector, TPU is favored for its durability, flexibility, and abrasion resistance, contributing to producing high-performance shoe components.

Industrial machinery thermoplastic polyurethane materials are the fastest-growing category over the forecast period. Industrial machinery applications capitalize on TPU's mechanical properties, offering resilience, impact resistance, and chemical stability, enhancing the longevity and efficiency of machine components.

• Footwear
• Industrial Machinery
• Automotive & Transportation
• Electronics
• Medical
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Thermoplastic Polyurethane Material Technology Segment Analysis

According to Cognitive Market Research, blow molding holds a prominent market share. It involves shaping TPU by inflating a heated plastic tube, creating hollow structures such as bottles. This method is suitable for producing complex geometries with high precision.

Solvent casting is the fastest-growing category over the forecast period. It utilizes a solution of TPU in a solvent, which is cast into a mold and then solidified to form the desired product. Solvent casting is advantageous for intricate designs and offers flexibility in material composition.

• Blow Molding
• Solvent Casting
• Lamination
• Extrusion
• Injection Molding
• Others

Thermoplastic Polyurethane Material Raw material Segment Analysis

According to Cognitive Market Research, diisocyanates hold a prominent market share. Diisocyanates, including MDI (methylene diphenyl diisocyanate) and TDI (toluene diisocyanate), are essential components for TPU synthesis, impacting material properties such as hardness and flexibility.

Polyols is the fastest-growing category over the forecast period. Polyols, like polyester and polyether polyols, contribute to TPU's versatility by influencing characteristics like elongation and resilience.

• Diisocyanates
• Polyols
• Diols
• Adipic acid

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

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Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion