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

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

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.

North America Polyurethane Market Outlook

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

Increasing usage of durable plastic in construction activities is expected to drive the market during the forecast period.
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.
Growing demand for building insulation in light of sustainability is anticipated to propel the market during the projected period.
Increasing investment in development of smart energy efficient residential and commercial buildings is estimated to spur the market in the coming years.
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.
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.

Attributes	Details
Report Title	Polyurethane Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
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)
Geographical Scope	Canada, Mexico, United States, and Rest of North America.
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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.

North America Polyurethane Market End Users

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.

North America Polyurethane Market Key Players

Table Of Content

1. Executive Summary
2. 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 (000â€™ 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