North America Polyurethane Market To Reach $27.08 Billion By 2030

North America Polyurethane Market Growth & Trends

The North America polyurethane market size is estimated to reach USD 27.08 billion by 2030, expanding at a CAGR of 3.9% from 2024 to 2030, 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.  

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North America Polyurethane Market Report Highlights

• The North America polyurethane market size was valued at USD 20.88 billion in 2023 and is projected to grow at a CAGR of 3.9% from 2024 to 2030.

• Rigid foam dominated the market and accounted for a share of 34.1% in 2023. The increasing focus on energy efficiency in building structures has driven the demand for rigid foam insulation, which offers superior performance and sustainability.

• The electronics & appliances segment is projected to grow at the fastest CAGR of 4.9% over the forecast period. Polyurethane’s thermal insulation properties make it an ideal material for refrigerators, freezers, and air conditioners. Recovery of automotive production landscape as a result of export demand is a major factor for growth.

• The U.S. polyurethane market dominated the North America polyurethane market in 2023, generating a revenue share of 50.5%. 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.

• The Canada polyurethane market held a substantial share of the North American market, driven by increased demand for energy-efficient building materials, particularly rigid polyurethane foams.

• Key players operating in North America PU market include BASF, The Dow Chemical Company, Covestro AG, Huntsman Corporation, Eastman Chemical Company, The Lubrizol Corporation and Mitsui & Co. (U.S.A.), Inc.

North America Polyurethane Market Segmentation

Grand View Research has segmented the North America polyurethane market based on product, end use, and country:

North America Polyurethane Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Rigid Foam

• Flexible Foam

• Coatings

• Adhesives & Sealants

• Elastomers

• Others

North America Polyurethane End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Furniture and Interiors

• Construction

• Electronics & Appliances

• Automotive

• Footwear

• Packaging

• Others

North America Polyurethane Country Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• U.S.

• Canada

• Mexico

List of Key Players in North America Polyurethane Market

• The Dow Chemical Company

• Covestro AG

• BASF

• Huntsman International LLC

• Eastman Chemical Company

• Mitsubishi Chemical Group Corporation

• RAMPF Holding GmbH & Co. KG

• The Lubrizol Corporation

• Mitsui & Co. (U.S.A.), Inc.

• DIC CORPORATION

• Recitel NV/SA

• Woodbridge

• RTP Company

• Tosoh Bioscience LLC