North America Polyurethane Market By Product Type (Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants, Elastomers), By End-User (Construction, Automotive, Furniture & Interiors, Electronics & Appliances, Footwear), & Region For 2024-2031
Report ID: 465362|No. of Pages: 202
North America Polyurethane Market By Product Type (Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants, Elastomers), By End-User (Construction, Automotive, Furniture & Interiors, Electronics & Appliances, Footwear), & Region For 2024-2031
North America Polyurethane Market Valuation — 2024-2031
The North America polyurethane market is driven upward by technological advancements in manufacturing processes and increasing demand across various end-use industries. According to the analyst from Verified Market Research, the North America polyurethane market is estimated to reach a valuation of USD 42.8 Billion over the forecast subjugating around USD 27.5 Billion valued in 2023.
The rapid expansion of the market is primarily driven by robust growth in construction activities, automotive production, and increasing demand for energy-efficient materials across the region. It enables the market to grow at a CAGR of 5.7% from 2024 to 2031.
>>> Get | Download Sample Report @ – https://www.verifiedmarketresearch.com/download-sample/?rid=465362
North America Polyurethane Market: Definition/Overview
Polyurethane is recognized as a versatile polymer that is formed through the reaction between diisocyanates and diols or polyols. A wide range of products, from flexible foams for furniture to rigid insulation panels for buildings, is manufactured using this material.
Furthermore, polyurethane’s applications are found across numerous sectors, where it is utilized in automotive seating, building insulation, footwear manufacturing, and electronic device protection. The material’s properties, including durability, flexibility, and chemical resistance, are leveraged to create innovative solutions for modern manufacturing challenges.
What's inside a VMR
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=465362
What are the Key Drivers Propelling the Growth of the Polyurethane Market?
Polyurethane’s superior insulation properties make it a preferred material in construction, particularly for thermal insulation in buildings. According to the U.S. Energy Information Administration (EIA), approximately 40% of energy consumption in the U.S. is attributed to residential and commercial buildings. As energy efficiency becomes a priority, demand for insulation materials like rigid polyurethane foam continues to rise, contributing significantly to the market’s growth. The increasing adoption of green building standards and energy-efficient building materials further accelerates this trend.
The shift towards lightweight vehicles, aimed at improving fuel efficiency and reducing carbon emissions, is driving demand for polyurethane in automotive applications. Polyurethane materials, including foam, elastomers, and coatings, are widely used in vehicle seats, insulation, and bumpers. According to the U.S. Department of Energy, reducing a vehicle’s weight by 10% improves fuel economy by 6-8%. This push towards lightweight is a significant factor influencing the growing use of polyurethane in the North American automotive sector.
The consumer goods sector, especially in furniture and bedding, is another driver for the polyurethane market in North America. The demand for flexible polyurethane foams in products such as mattresses, upholstered furniture, and automotive seating is on the rise. The U.S. furniture market, valued at over $118 billion in 2022, continues to expand, driven by consumer preference for comfort and durability, which polyurethane provides. As the population increases and disposable income rises, this trend is expected to continue, further boosting polyurethane’s role in the consumer goods sector.
What are the Challenges Associated with the Adoption of Polyurethane in the Market?
The adoption of polyurethane in various industries is the environmental impact of its production and disposal. Polyurethane is derived from petrochemical sources, which contributes to the carbon footprint of its manufacturing process. Additionally, many polyurethane products are not biodegradable and lead to significant waste accumulation when disposed of improperly. While there are efforts to develop more sustainable, bio-based alternatives, the transition to greener options remains slow and costly for manufacturers. The environmental concerns surrounding polyurethane’s lifecycle are prompting more regulatory scrutiny and consumer demand for eco-friendly products, which complicate its widespread adoption.
Another challenge lies in the cost of production and raw materials. Polyurethane is typically more expensive to produce compared to other materials like polystyrene or polyethylene. The reliance on specialized raw materials, such as isocyanates, and the complex manufacturing processes required for high-quality polyurethane products often result in higher production costs. This makes it challenging for industries with budget constraints, such as construction or small-scale manufacturers, to fully embrace polyurethane, especially when cheaper alternatives are readily available. Despite its performance advantages, the cost remains a barrier to its widespread use in price-sensitive markets.
Furthermore, health and safety concerns during polyurethane manufacturing and use present another obstacle. The chemicals involved in polyurethane production, particularly isocyanates, are hazardous to human health. Exposure to these substances leads to respiratory issues and other serious health effects, requiring manufacturers to invest in stringent safety protocols and protective measures. These safety concerns deter both workers and consumers from embracing polyurethane, and regulatory bodies in various countries are increasing the pressure to ensure that proper safety standards are followed. This places an additional burden on businesses in terms of compliance and operational costs.
Category-Wise Acumens
What are the Drivers that Contribute to the Demand for Flexible Foam?
According to VRM, the flexible foam sector is estimated to dominate the market over the projection period. Comfort needs in furniture and bedding applications are increasing, and flexible polyurethane foam is favored due to its exceptional cushioning capabilities and durability.
Flexible foam is increasingly used in automotive interior applications such as seating, headrests, and armrests. Growing vehicle manufacturing in North America is directly proportional to increased demand for flexible polyurethane foam.
Furthermore, packaging applications vary, with flexible foam used to safeguard delicate equipment and products during shipping. The e-commerce boom has led to a rise in demand for protective packaging materials.
What are the Growth Prospects for the Construction End-user?
The construction segment is estimated to maintain its dominance during the projection period. Energy efficiency rules are tightened across North America, and polyurethane-based insulation materials are becoming recognized for their exceptional thermal properties.
Infrastructure development projects are underway across the region, with polyurethane materials used in a variety of applications ranging from insulation to waterproofing. The government is implementing sustainable construction programs, which are pushing the adoption of energy-efficient building materials.
Furthermore, repair and retrofitting activities are increasing, with polyurethane materials utilized to increase the energy efficiency of existing structures. As people become more conscious of the importance of energy saving, there is a rise in demand for insulation materials.
Gain Access to North America Polyurethane Market Report Methodology
https://www.verifiedmarketresearch.com/select-licence/?rid=465362
Country/Region-wise Acumens
What are the Key Factors that Contribute to the United States Market Leadership?
The United States is estimated to dominate the North American polyurethane market during the forecast period. Polyurethane foams, especially rigid foams, are in high demand in the construction sector due to their excellent insulation properties, which help reduce energy consumption in buildings. According to the U.S. Department of Energy, heating, and cooling account for approximately 55% of the energy used in a typical U.S. home, making insulation a critical focus. Rigid polyurethane foam is widely used in insulation applications such as roofing and wall systems, contributing to energy efficiency in both residential and commercial properties.
The demand for polyurethane is also driven by the automotive industry, where it is used to reduce vehicle weight, thereby improving fuel efficiency, and reducing emissions. This shift aligns with the industry’s growing focus on sustainability. Polyurethane’s role in producing lighter, more fuel-efficient vehicles is expected to continue supporting the market, especially with the rise of electric vehicles that prioritize weight reduction for extended range.
Furthermore, as environmental concerns become more prominent, there is an increasing push towards bio-based polyurethane products, which offer a more sustainable alternative to traditional polyurethane. This trend is supported by innovations in polyurethane formulations that incorporate renewable resources, helping to meet the growing demand for environmentally friendly materials across various industries.
How Do Government Initiatives Shape the Market Landscape in Canada?
Canada is estimated to exhibit the highest growth within the North American polyurethane market during the forecast period. The demand for polyurethane in insulation materials and coatings is rising, driven by Canada’s continued investments in infrastructure and green building practices. Rigid polyurethane foam, used for thermal insulation in both residential and commercial buildings, is seeing particularly strong demand.
Polyurethane is crucial in automotive applications for parts like seating, insulation, and bumpers. As Canada’s automotive sector recovers and shifts towards more energy-efficient vehicles, the use of lightweight materials like polyurethane is expanding.
Furthermore, the demand for flexible foam in furniture and mattresses is also boosting market growth. With the increasing focus on comfort and durability in consumer goods, polyurethane’s role in this market is becoming more prominent.
Competitive Landscape
The North American polyurethane market’s competitive landscape is characterized by the presence of major chemical companies and specialized manufacturers.
Some of the prominent players operating in the North America Polyurethane Market include:
BASF SE, Dow Inc., Huntsman Corporation, Covestro AG, Wanhua Chemical Group, Mitsui Chemicals, Lanxess AG, Tosoh Corporation, Recticel NV, Rogers Corporation.
Latest Developments
- In February 2022, BASF announced a partnership with a leading automotive company to supply polyurethane-based lightweight materials for electric vehicle (EV) production. These materials are designed to reduce the weight of EVs, improving their energy efficiency and range.
- In March 2021, Covestro, a major player in the polyurethane industry, expanded its production capacity for high-performance polyurethanes in North America. The expansion, located in the United States, is intended to meet the rising demand for polyurethane materials used in automotive, construction, and insulation applications.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2031 |
| Growth Rate | CAGR of ~5.7% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2020-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Players | BASF SE, Dow Inc., Huntsman Corporation, Covestro AG, Wanhua Chemical Group, Mitsui Chemicals, Lanxess AG, Tosoh Corporation, Recticel NV, Rogers Corporation. |
| Customization | Report customization along with purchase available upon request |
North America Polyurethane Market, By Category
Product Type:
- Flexible Foam
- Rigid Foam
- Coatings
- Adhesives & Sealants
- Elastomers
- Others
End-User:
- Construction
- Automotive
- Furniture & Interiors
- Electronics & Appliances
- Footwear
- Others
Region:
- United States
- Canada
- Mexico
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. North America Polyurethane Market, By Product Type
• Flexible Foam
• Rigid Foam
• Coatings
• Adhesives & Sealants
• Elastomers
• Others
5. North America Polyurethane Market, By End-User
• Construction
• Automotive
• Furniture & Interiors
• Electronics & Appliances
• Footwear
• Others
6. North America Polyurethane Market, By Geography
• United States
• Canada
• Mexico
7. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
8. Competitive Landscape
• Key Players
• Market Share Analysis
9. Company Profiles
• BASF SE
• Dow Inc.
• Huntsman Corporation
• Covestro AG
• Wanhua Chemical Group
• Mitsui Chemicals
• Lanxess AG
• Tosoh Corporation
• Recticel NV
• Rogers Corporation
10. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
11. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
