CLEVELAND, Jan. 30, 2021 /PRNewswire/ -- US demand for polyurethane resin is forecast to increase nearly 1.0% yearly in volume terms through 2024, according to Polyurethane: United States, a report recently released by Freedonia Focus Reports. Expansion will be driven by healthy growth in construction spending, which will fuel demand for polyurethane building insulation, coatings, adhesives, and sealants. Growth in transport equipment shipments and consumer disposable income will boost polyurethane demand associated with motor vehicle and household product manufacturing. Polyurethane's low cost and ease of manufacturing and handling will continue to support widespread use. Furthermore, the introduction of improved products and processes – such as polyol processes that can limit volatile organic compound (VOC) emissions from polyurethane foam – will aid value demand growth. Increased use of soy and other biobased polyols is expected as polyurethane manufacturers make efforts to reduce energy consumption and lessen their impact on the environment.
Demand for polyurethanes fell 4.7% from 2019 levels in 2020. Declining production of motor vehicles and durable goods in 2020 due to weak economic conditions and unsafe working conditions reduced demand for polyurethane in the transport equipment and packaging markets. However, the COVID-19 pandemic also increased demand for polyurethane for use in personal protection equipment, which staved off faster declines.
These and other key insights are featured in Polyurethane: United States. This report forecasts to 2024 US polyurethane demand in pounds. Total demand is segmented by product in terms of:
coatings, adhesives, and sealants
other products such as binders and composites
Total demand is also segmented by market as follows:
other markets such as agriculture products, electronics, and footwear
To illustrate historical trends, total demand, and the various segments are provided in annual series from 2009 to 2019.
Demand figures refer to the weight of final products, rather than input chemicals. Scrap is excluded from the scope of this report. Rebond foam carpet padding, which consists of factory scrap generated in the production of furniture, bedding, or transport foams, is also excluded from the scope of this report.
Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.
About Freedonia Focus Reports Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Materials & Chemicals reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
total historical market size and industry output
segmentation by products and markets
identification of market drivers, constraints, and key indicators