North America Polyurethane market is estimated to register a significant CAGR during the forecast period, 2018 to 2023. Building and Construction is expected to be the largest end-user segment. Advent of bio polyurethane acts as one of the major opportunity for the market
The manufacturing of transportation equipment, such as light vehicles, trucks, aircraft, trains and boats account for almost one-fourth of the total polyurethane consumption, standing next to the construction industry. 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 North America. Moreover, most of the polyurethane products are being used in the automotive construction. The increasing application for polyurethane in automotive will ensure robust growth for the market in the region.
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.
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
Major Players: BASF SE, Huntsman International LLC and DowDupont, among others.
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