4th December 2019 – 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.
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
Polyurethane elastomers, rigid
polyurethane foam, adhesives & sealants, flexible polyurethane foam,
polyurethane coatings, and other product types could be explored in North
America Polyurethane (PU) in the forecast period. Polyurethane elastomers
sector comprises cast polyurethane elastomers, sprayed polyurethane elastomers,
and others.
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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.
The market may be categorized based on
end users like packaging, furniture & bedding, footwear, construction,
automotive, electronics & appliances, and others that could be explored in
the forecast period. Construction sector accounted for the substantial market
share of North America Polyurethane (PU) and is estimated to lead the overall
market in the coming years. This may be because of high spending in the United
States, to improve public infrastructure and existing road. Also, electronics
& appliances id estimated to grow at fastest pace with significant CAGR in
the coming years.
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.
The key players of North America
Polyurethane (PU) Market are Alchemie Ltd., BASF, Mitsui Chemicals America,
Inc., The Dow Chemical Company, Tosoh America, Inc., Bayer Material Science,
and Huntsman Corporation. These players are concentrating on inorganic growth
to sustain themselves amongst fierce competition. As companies all over the
world have to believe that alliance with a market would permit them
proportional market existence and authority to declare the leadership position.
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