The North America Polyurethane (PU) Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
North America Polyurethane (PU) Market is expected to reach USD 19.18 billion by 2024. Polyurethane (PU) is a most adaptable plastic material formed by reacting a polyol with a polymeric isocyanate or di-isocyanate in presence of additives and catalyst. It is also termed as polycarbamates. They have high abrasion resistance, low in cost, good low temperature quality, and wide molecular structural variability. North America Polyurethane (PU) Market is estimated to grow at a significant CAGR of 4.2% over the forecast period as the scope and its applications are rising enormously across the globe.
Key Players:
- Huntsman Corporation
- BASF
- The Dow Chemical Co.
- Covestro
- American Polyfilm Inc.
- Alchemie
- Tosoh America Inc.
- Ashland
- Mitsui Chemicals America Inc.
- Polyurethane Specialties
- SMC Corporation of America
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Growth Drivers:
Increasing anxiety regarding energy efficacy in the region, technological enhancement, growing customer awareness regarding thermal insulation, rising shift towards sustainable construction, and presence of major industries in the region are documented as major factors of North America Polyurethane (PU) Market that are estimated to enhance the growth in the years to come. However, poor thermal capability and weather ability and its flammable property may restrain overall market growth in the coming years. North America Polyurethane (PU) industry is segmented based on product type, end use, and region.
Product Outlook:
- Rigid Polyurethane Foam
- Flexible Polyurethane Foam
- Polyurethane Coatings
- Adhesives & Sealants
- Polyurethane Elastomers
- Sprayed Polyurethane Elastomers
- Cast Polyurethane Elastomers
Rigid polyurethane foam sector accounted for the substantial market share of North America Polyurethane (PU) and is estimated to continue its dominance in the coming years. However, flexible polyurethane board is estimated to have high demand from end users like transportation, packaging, furniture, bedding, textiles, and others as they have good handling strength, durability, energy absorption property, and resiliency.
End-Use Outlook:
- Furniture & Bedding
- Construction
- Electronics & Appliances
- Automotive
- Footwear
- Packaging
Regional Outlook:
The United States accounted for the substantial market share of North America Polyurethane (PU) and is estimated to lead the overall market in the coming years. The reason behind the overall market could be high demand for PU products from several end users like automotive, furniture, packaging, and construction and high consumer disposable income.
Mexico follow suit and is estimated to have a positive influence on the future growth. Also, it is estimated to grow at significant CAGR in the coming years. The aspects that may be ascribed to the growth comprise growing demand for lightweight and energy-efficient materials.
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