North America Polyurethane Market - Segmented by Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
North America Polyurethane market is estimated to register a CAGR of 5.60% during the forecast period, 2018 to 2023. Building and Construction is expected to be the largest end-user segment followed by automotive and furniture & interiors. Increasing usage of durable plastics in construction is driving the market for polyurethane in the region.
Increasing Emphasis on Recycling Driving the Market
Increasing concerns related to environmental pollution and VOC emissions from waste plastics has been driving the attention of the North American governments toward recycling needs. Two purposes can be served through recycling; reduction in wastage of the materials as well as reduction of waste and pollution. Polyurethane finds numerous applications in various end-user industries, such as automotive, construction, furniture and interiors, electronics and appliances, footwear, and packaging, among others, which signifies huge demand, globally.
Foams Application is Expected to Hold the Largest Share of Application Segment
Rigid polyurethane and polyisocyanurate (polyiso) foams create one of the world's most popular, energy-efficient, and versatile insulations. According to the US Department of Energy, heating, and cooling account for approximately 55% of the energy used in a typical US home, making it the largest energy expense for most homes. To maintain uniform temperature and lower noise levels in homes and commercial properties, builders turn to rigid polyurethane and polyisocyanurate foams. These foams are effective insulation materials that can be used in roof and wall insulation, insulated windows, doors, and air barrier sealants.
United States is expected to hold the major of the market in the region
Building and construction accounted for approximately 35% of the consumption of polyurethanes in the United States, making it the largest end-user market for polyurethane materials. The environmental benefits of rigid polyurethane foam are significant. They include increased energy efficiency and reduced project weight and are expected to register a significant rate during the forecast period.
Transportation also accounts for a significant share of the total polyurethane consumption. Advent of sustainable polymeric formulations for vehicle weight reduction and decreased fuel consumption for environmental safety are the main drivers of the polyurethane market in the U.S.
Apart from the aforementioned end-users, paints & coatings, along with furniture also find applications from polyurethane
January, 2018: Huntsman Acquired Demilec, a Leading North American Spray Polyurethane Foam Insulation Manufacturer
Major Players: BASF SE, Huntsman International LLC and DowDupont, among others.
North America Polyurethane Market Report Summary
Huntsman Acquired Demilec, a Leading North American Spray Polyurethane Foam Insulation Manufacturer
Covestro, Huntsman International, DowDupont, BASF SE and Mitsui Chemicals, Inc., etc.
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