North America Polyurethane Market Size, Share & Trends Analysis Report By Raw Material (Polyols, Toluene Di-isocyanate, Methylene Diphenyl Di-isocyanate, and Others), By Application, By Product, By Country and Growth Forecast, 2023 - 2030
The North America Polyurethane Market would witness market growth of 3.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 5,163.6 kilo tonnes, showcasing a growth of 3.0% (2019-2022).
Rigid foam-based polyurethane is a versatile material with a broad spectrum of applications, prized for its unique combination of properties. Widely utilized in construction, it serves as an excellent thermal insulator in roofing, walls, and flooring, contributing to energy efficiency. Therefore, the Canada market consumed 622.8 kilo tonnes in 2022.
The US market dominated the North America Polyurethane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $13,478.9 million by 2030. The Canada market is experiencing a CAGR of 6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.1% during (2023 - 2030).
The growth of the medical device sector translates into higher demand for polyurethane in production. For instance, according to data released by the People's Republic of China's State Council, as of the end of August 2020, China was home to 26,456 makers of medical devices, a 40 percent increase from the previous year.
Moreover, this has been widely adopted across various industries due to its adaptable qualities, affordability, and appropriateness for various uses. Polyurethane offers unique properties, including flexibility, durability, chemical resistance, and thermal insulation.
Polyurethane foam insulation is commonly used in renewable energy infrastructure, including solar panels, wind turbine blades, and energy storage systems, to minimize heat loss and enhance overall system efficiency. As per the data released in 2023 by the International Trade Administration (ITA), Mexico aims to achieve 35% clean energy by 2024, including power regeneration from renewable sources, as per the Energy Transition Law (Ley de Transición Energética) and General Climate Change Law (Ley General de Cambio Climático). Thus, the market will grow in North America due to rising investments in the aerospace industry and the rise of the renewable energy sector in the region.
Based on Raw Material, the market is segmented into Polyols, Toluene Di-isocyanate, Methylene Diphenyl Di-isocyanate, and Others. Based on Application, the market is segmented into Construction, Furniture & Interiors, Electronics & Appliances, Footwear, Automotive, Packaging, and Others. Based on Product, the market is segmented into Rigid Foam, Flexible Foam, Coatings, Adhesives & Sealants, Elastomers, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- ArcelorMittal S.A.
- thyssenkrupp AG
- BASF SE
- Covestro AG
- The Dow Chemical Company
- Huntsman Corporation
- Lanxess AG
- Mitsui Chemicals, Inc.
- Tosoh Corporation
- Eastman Chemical Company
By Raw Material (Volume, Kilo Tonnes, USD Billion,2019-2030)
- Polyols
- Toluene Di-isocyanate
- Methylene Diphenyl Di-isocyanate
- Others
- Construction
- Furniture & Interiors
- Electronics & Appliances
- Footwear
- Automotive
- Packaging
- Others
- Rigid Foam
- Flexible Foam
- Coatings
- Adhesives & Sealants
- Elastomers
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Polyurethane Market, by Raw Material
- 1.4.2 North America Polyurethane Market, by Application
- 1.4.3 North America Polyurethane Market, by Product
- 1.4.4 North America Polyurethane Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
- Chapter 4. Strategies Deployed in Polyurethane Market.
- Chapter 5. North America Polyurethane Market by Raw Material
- 5.1 North America Polyols Market by Country
- 5.2 North America Toluene Di-isocyanate Market by Country
- 5.3 North America Methylene Diphenyl Di-isocyanate Market by Country
- 5.4 North America Others Market by Country
- Chapter 6. North America Polyurethane Market by Application
- 6.1 North America Construction Market by Country
- 6.2 North America Furniture & Interiors Market by Country
- 6.3 North America Electronics & Appliances Market by Country
- 6.4 North America Footwear Market by Country
- 6.5 North America Automotive Market by Country
- 6.6 North America Packaging Market by Country
- 6.7 North America Others Market by Country
- Chapter 7. North America Polyurethane Market by Product
- 7.1 North America Rigid Foam Market by Country
- 7.2 North America Flexible Foam Market by Country
- 7.3 North America Coatings Market by Country
- 7.4 North America Adhesives & Sealants Market by Country
- 7.5 North America Elastomers Market by Country
- 7.6 North America Others Market by Country
- Chapter 8. North America Polyurethane Market by Country
- 8.1 US Polyurethane Market
- 8.1.1 US Polyurethane Market by Raw Material
- 8.1.2 US Polyurethane Market by Application
- 8.1.3 US Polyurethane Market by Product
- 8.2 Canada Polyurethane Market
- 8.2.1 Canada Polyurethane Market by Raw Material
- 8.2.2 Canada Polyurethane Market by Application
- 8.2.3 Canada Polyurethane Market by Product
- 8.3 Mexico Polyurethane Market
- 8.3.1 Mexico Polyurethane Market by Raw Material
- 8.3.2 Mexico Polyurethane Market by Application
- 8.3.3 Mexico Polyurethane Market by Product
- 8.4 Rest of North America Polyurethane Market
- 8.4.1 Rest of North America Polyurethane Market by Raw Material
- 8.4.2 Rest of North America Polyurethane Market by Application
- 8.4.3 Rest of North America Polyurethane Market by Product
- Chapter 9. Company Profiles
- 9.1 ArcelorMittal S.A.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 SWOT Analysis
- 9.2 thyssenkrupp AG
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 BASF SE
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Geographical Expansions:
- 9.3.6 SWOT Analysis
- 9.4 Covestro AG
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Partnerships, Collaborations, and Agreements:
- 9.4.5.2 Product Launches and Product Expansions:
- 9.4.5.3 Acquisition and Mergers:
- 9.4.5.4 Geographical Expansions:
- 9.4.6 SWOT Analysis
- 9.5 The Dow Chemical Company
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.5.6 SWOT Analysis
- 9.6 Huntsman Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segment and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Acquisition and Mergers:
- 9.6.6 SWOT Analysis
- 9.7 Lanxess AG
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expenses
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.6 SWOT Analysis
- 9.8 Mitsui Chemicals, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.6 SWOT Analysis
- 9.9 Tosoh Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 SWOT Analysis
- 9.10. Eastman Chemical Company
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 SWOT Analysis
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