North America polyurethane (PU)
market is expected to reach USD 19.18 billion by 2024, according to
a new report by Grand View Research, Inc. Rising concerns regarding energy
efficiency in the region is a key driving factor for industry growth. Growth
dynamics of the industry are expected to be heavily influenced by trends in
major end-use industries that include automotive, packaging, and construction
coupled with the shift towards lightweight products, especially in miniaturized
electronic gadgets. Technological advancements along with a shift in preference
towards aesthetic, yet environmentally sustainable products are likely to
positively influence the market.
Rigid foams
were the leading product segment and accounted for over 33% of the overall
volume in 2015. The shift towards sustainable construction practices and
consumer awareness regarding thermal insulation as a means of energy
conservation are expected to be major driving factors for the product’s growth.
To request a
sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- North America polyurethane (PU)market demand was 3.61 million tons in 2015 and is expected to reach 5.21 million tons by 2024, growing at a CAGR of 4.2% from 2016 to 2024
- Cast polyurethanes were the highest consumed elastomers with their overall volume estimated at over 130 kilo tons in 2015. Critical applications of these elastomers include prototyping and tooling in the automotive industry.
- Electronics and automotive industries present majority of the growth opportunities for the U.S. market with both the segments expected to collectively account for over 27% of the volume by 2024. Recovery of automotive production landscape as a result of export demand is a major factor for growth.
- U.S. was the leading consumer with market revenue estimated at over USD 9,900 million in 2015. Federal government initiatives to improve the insulation of low-income households to reduce energy demand is a key factor driving rigid foams consumption in the U.S.
- Mexico is a high growth potential market in North America and is expected to register a volumetric growth of over 5.5% from 2016 to 2024. The industry in Mexico is characterized by high requirement for foams & adhesives in construction, automotive, packaging and furniture applications.
- Key players operating in North America PU market include BASF, The Dow Chemical Company, Bayer Material Science, Huntsman Corporation, Tosoh America, Inc., Mitsui Chemicals America, Inc. and Alchemie Ltd.
See More
Reports of This Category:
About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment