North America Polyurethane Market Analysis, Growth [2031]
North America Polyurethane Market Analysis, Growth [2031]
Segments - North America Polyurethane Market by Applications (Foams [Flexible Foam and Rigid Foam], Elastomers, Coatings, Adhesives, Sealants, and Binders), End-user Industry (Building & Construction, Furniture & Interiors, Automotive & Transportation, Electronics & Appliances, Packaging, and Others), Geographies (Canada, Mexico, United States, and Rest of North America) - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-3802
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Report Description
The North America Polyurethane Market size was valued at USD 17.01 Billion in 2022 and is expected to surpass USD 26.39 Billion by 2031, expanding at a CAGR of 5% during the forecast period, 2023 – 2031. The growth of market is attributed to growing use of durable plastics in construction sector.
Polyurethane works effectively in building materials which considerably generate higher demand for insulating material to regulate ventilation, heating, and air conditioning (HVAC) and combats and secure the energy that previously gets lost due to inefficient insulation.
Growing demand for the product from sectors such as packaging, automotive, and construction in the U.S. is estimated to drive the market during the projected period. Parts of North America especially United States observed an expansion in construction segment due to positive market fundamentals for real estate accompanied by increasing investments from state and federal for the development of institutional buildings and public works.
For refurbishing and development of roads, hospital buildings, and other infrastructure U.S government has announced USD 2 trillion of investment in March 2020, which is anticipated to stimulate the market within the country. However, growing environmental concern and stringent regulation against emission of carbon is expected to restrain the market growth during the forecast period.
Many developed economies such as the UK, Germany, Canada, and US have started following the regulation and have reduced the carbon emission.
Furthermore, with COVID-19 outbreak the production all around the globe has halted their manufacturing activities, thus impacting the whole market and activities associated with the sector.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing usage of durable plastic in construction activities is expected to drive the market during the forecast period.
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R&D and technological advancement towards development of bio-based polyurethane is estimated to create lucrative opportunities for the key players of the market in the coming years.
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Growing demand for building insulation in light of sustainability is anticipated to propel the market during the projected period.
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Increasing investment in development of smart energy efficient residential and commercial buildings is estimated to spur the market in the coming years.
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Growing environmental concern and strict rules formulated by legal bodies towards the emission of carbon possess a challenge that can impede the growth of the market during the projected period.
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Rising competition from polystyrene and polypropylene foam act as factor that can hinder the growth of the market during the forecast period.
Scope of North America Polyurethane Market
The report on North America polyurethane market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Polyurethane Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Foams [Flexible Foam, Rigid Foam], Elastomers, Coatings, Adhesives, Sealants, and Binders), End-users (Building & Construction, Furniture & Interiors, Automotive & Transportation, Electronics & Appliances, Packaging, and Others) |
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Geographical Scope |
Canada, Mexico, United States, and Rest of North America. |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Dow; LANXESS; Covestro AG; Huntsman International LLC; BASF SE. |
North America Polyurethane Market Segment Insights
The foam segment is expected to hold major share of the market
Based on application, the market is segregated into foams, elastomers, coatings, adhesives, sealants, and binders. The foam segment is further bifurcated into flexible foam and rigid foam. The foam segment is expected to hold major share of the market in the coming years due to the type of PU such as rigid foam is considered as one of the most energy efficient and versatile insulator, along with it is used for different applications such as reducing the noise and maintain the temperature also construction industry uses polyurethane for many unique applications which escalate the demand for the product.
The building and construction segment is estimated to account large share of the market
On the basis on end-users, the market is categorized into building and construction, furniture & interiors, automotive & transportation, electronics & appliances, packaging, and others. The building and construction segment is estimated to account large share of the market owing to beneficial characteristics of polyurethane such as chemical inertness, bacterial & pest resistant, lightness, and more. With the rising urbanization as well as globalization in developing economies such as China and India, along with increasing infrastructure development in parts of Middle East is anticipated to stimulate the segments.
The North America is estimated to dominated the market
In terms of geographies, the market is fragmented into Canada, Mexico, United States, and Rest of North America. North America is estimated to dominate the market during the projected period due to increasing building and construction activities. Favorable government policies and regulations, surging demand for rigid foam towards environment concern, are some of the factors driving the segment.
Segments
The North America polyurethane market has been segregated on the basis of
Applications
- Foams
- Flexible Foam
- Rigid Foam
- Elastomers
- Coatings
- Adhesives, Sealants, and Binders
End-users
- Building & Construction
- Furniture & Interiors
- Automotive & Transportation
- Electronics & Appliances
- Packaging
- Others
Geographies
- Canada
- Mexico
- United States
- Rest of North America
Key Players
- Dow
- LANXESS
- Covestro AG
- Huntsman International LLC
- BASF SE.
Competitive Landscape
Key players competing in the North America polyurethane market include Dow; LANXESS; Covestro AG; Huntsman International LLC; BASF SE.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Frequently Asked Questions
The COVID-19 outbreak led to halted manufacturing activities globally, impacting the polyurethane market and related sectors.
Key players include Dow, LANXESS, Covestro AG, Huntsman International LLC, and BASF SE.
The report covers Canada, Mexico, United States, and the Rest of North America.
Challenges include environmental concerns, strict regulations on carbon emissions, and competition from polystyrene and polypropylene foams.
Trends include increased use in construction, development of bio-based polyurethane, demand for building insulation, and investment in energy-efficient buildings.
Polyurethane is valued for its insulating properties, energy efficiency, chemical inertness, and resistance to bacteria and pests, making it ideal for building and construction applications.
Polyurethane is used in foams (flexible and rigid), elastomers, coatings, adhesives, sealants, and binders.
Key sectors driving demand include construction, packaging, automotive, and furniture & interiors.
The market is expected to grow at a CAGR of 5% from 2023 to 2031.
The North America Polyurethane Market was valued at USD 17.01 billion in 2022.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Polyurethane Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Polyurethane Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Polyurethane Market - Supply Chain
4.5. Global Polyurethane Market Forecast
4.5.1. Polyurethane Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Polyurethane Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Polyurethane Market Absolute $ Opportunity
5. Global Polyurethane Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Polyurethane Market Size and Volume Forecast by End Users
5.3.1. Building & Construction
5.3.2. Furniture & Interiors
5.3.3. Automotive & Transportation
5.3.4. Electronics & Appliances
5.3.5. Packaging
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Polyurethane Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Polyurethane Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Polyurethane Demand Share Forecast, 2019-2026
7. North America Polyurethane Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Polyurethane Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Polyurethane Market Size and Volume Forecast by End Users
7.4.1. Building & Construction
7.4.2. Furniture & Interiors
7.4.3. Automotive & Transportation
7.4.4. Electronics & Appliances
7.4.5. Packaging
7.4.6. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Polyurethane Demand Share Forecast, 2019-2026
8. Latin America Polyurethane Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Polyurethane Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Polyurethane Market Size and Volume Forecast by End Users
8.4.1. Building & Construction
8.4.2. Furniture & Interiors
8.4.3. Automotive & Transportation
8.4.4. Electronics & Appliances
8.4.5. Packaging
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Polyurethane Demand Share Forecast, 2019-2026
9. Europe Polyurethane Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Polyurethane Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Polyurethane Market Size and Volume Forecast by End Users
9.4.1. Building & Construction
9.4.2. Furniture & Interiors
9.4.3. Automotive & Transportation
9.4.4. Electronics & Appliances
9.4.5. Packaging
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Polyurethane Demand Share Forecast, 2019-2026
10. Asia Pacific Polyurethane Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Polyurethane Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Polyurethane Market Size and Volume Forecast by End Users
10.4.1. Building & Construction
10.4.2. Furniture & Interiors
10.4.3. Automotive & Transportation
10.4.4. Electronics & Appliances
10.4.5. Packaging
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Polyurethane Demand Share Forecast, 2019-2026
11. Middle East & Africa Polyurethane Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Polyurethane Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Polyurethane Market Size and Volume Forecast by End Users
11.4.1. Building & Construction
11.4.2. Furniture & Interiors
11.4.3. Automotive & Transportation
11.4.4. Electronics & Appliances
11.4.5. Packaging
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Polyurethane Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Polyurethane Market: Market Share Analysis
12.2. Polyurethane Distributors and Customers
12.3. Polyurethane Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Dow
12.4.2. LANXESS
12.4.3. Covestro AG
12.4.4. Huntsman International LLC
12.4.5. BASF SE
Methodology
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