Global Thermoplastic Polyurethanes (TPU) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global Thermoplastic Polyurethanes (TPU) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Thermoplastic Polyurethanes (TPU) market size was valued at US$ 3914 million in 2024 and is forecast to a readjusted size of USD 5947 million by 2031 with a CAGR of 6.4% during review period.

Thermoplastic Polyurethane (TPU) is a high-performance polymer material known for its excellent elasticity and abrasion resistance, classified as a type of thermoplastic elastomer (TPE). TPU is synthesized by the reaction of isocyanates and polyols, resulting in outstanding mechanical properties, oil resistance, wear resistance, and UV stability. Its structural characteristics allow TPU to exhibit good flexibility and elasticity at room temperature while being processable through melting when heated, facilitating shaping and manufacturing.

TPU is widely used across various industries, including automotive, electronics, medical devices, and sports equipment. In the automotive sector, TPU is commonly used to produce soft components, seals, and protective films; in electronics, it is utilized for phone cases and other protective accessories, providing excellent protection; in medical devices, TPU is employed to manufacture catheters and other medical equipment due to its biocompatibility. Additionally, TPU's environmentally friendly properties are gaining increasing attention and application. With technological advancements, the functionality and application scope of TPU will continue to expand, offering innovative solutions for various industries.

Thermoplastic polyurethane (TPU) is rapidly gaining traction across various industries as a high-performance material. As consumer demands for product quality and performance rise, TPU's excellent mechanical properties, abrasion resistance, and biocompatibility make it increasingly favored. Particularly in sectors such as automotive, electronics, and medical devices, TPU is becoming a standard material. This trend not only reflects advancements in material science but also indicates a growing market demand for high-performance, environmentally friendly materials.

Currently, the TPU market is experiencing rapid growth. According to market research reports, the global TPU market size is expected to expand at a significant compound annual growth rate (CAGR) over the next few years. In particular, the Asia-Pacific region is witnessing a notable increase in TPU demand, driven by economic development and manufacturing upgrades. Additionally, the implementation of environmental regulations is pushing for the use of biodegradable and recyclable materials, making TPU more competitive in the market due to its eco-friendly characteristics.

Presently, the primary applications of TPU include automotive parts, consumer electronics accessories, sports equipment, and medical devices. In the automotive sector, TPU is used for manufacturing soft components, seals, and protective covers, enhancing vehicle comfort and safety. In consumer electronics, TPU is widely utilized for phone cases, keyboard protectors, and other products, valued for its durability and impact resistance. In the medical field, due to its biocompatibility, an increasing number of medical devices are incorporating TPU materials, such as catheters and single-use medical products.

Several key drivers are contributing to the growth of the TPU market:

Technological Advancements: Continuous improvements in TPU production processes are lowering manufacturing costs while enhancing material performance, leading to greater product diversification.

Market Demand: The rising consumer demand for high-quality, high-performance products is accelerating the adoption of TPU, particularly in premium consumer goods and medical devices.

Increased Environmental Awareness: With heightened global focus on sustainability, stringent environmental regulations are prompting companies to seek eco-friendly alternatives to traditional plastics, positioning TPU as an ideal choice due to its recyclability and biocompatibility.

Economic Growth in the Asia-Pacific Region: The rapid industrialization and urbanization processes in the Asia-Pacific region, especially in China and India, provide vast growth opportunities for the TPU market.

This report is a detailed and comprehensive analysis for global Thermoplastic Polyurethanes (TPU) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Thermoplastic Polyurethanes (TPU) market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Thermoplastic Polyurethanes (TPU) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Thermoplastic Polyurethanes (TPU) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2020-2031

Global Thermoplastic Polyurethanes (TPU) market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (USD/MT), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Thermoplastic Polyurethanes (TPU)

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Thermoplastic Polyurethanes (TPU) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Lubrizol, BASF, Covestro, Wanhua Chemical, Huntsman, Trinseo, Hexpol, Kuraray, COIM Group, Avient, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Thermoplastic Polyurethanes (TPU) market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Polyester-based TPUs
Polyether-based TPUs
Polycaprolactone TPUs

Market segment by Application
Sports Goods & Footwear
Industrial Applications
Transportation/Automotive
Wire and Cable Solutions
Construction Materials
Medical, etc.

Major players covered
Lubrizol
BASF
Covestro
Wanhua Chemical
Huntsman
Trinseo
Hexpol
Kuraray
COIM Group
Avient
Epaflex
Miracll Chemicals Co., Ltd
Huafon

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Thermoplastic Polyurethanes (TPU) product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Thermoplastic Polyurethanes (TPU), with price, sales quantity, revenue, and global market share of Thermoplastic Polyurethanes (TPU) from 2020 to 2025.

Chapter 3, the Thermoplastic Polyurethanes (TPU) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Thermoplastic Polyurethanes (TPU) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Thermoplastic Polyurethanes (TPU) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Thermoplastic Polyurethanes (TPU).

Chapter 14 and 15, to describe Thermoplastic Polyurethanes (TPU) sales channel, distributors, customers, research findings and conclusion.