US Polyurethane Market Size, Share & Trends Analysis Report By Raw Material (Polyols, Toluene Di-isocyanate, Methylene Diphenyl Di-isocyanate, and Others), By Application, By Product, and Forecast, 2023 - 2030

The US Polyurethane Market size is expected to reach $13.5 Billion by 2030, rising at a market growth of 3% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,113.3 Kilo Tonnes, experiencing a growth of 2.4% (2019-2022).

The polyurethane market in the United States has experienced significant growth and transformation. In the construction sector, polyurethane is widely used in insulation foams, sealants, and adhesives, contributing to energy efficiency and sustainability efforts. The demand for energy-efficient buildings has propelled the adoption of polyurethane insulation materials, driving polyurethane market growth.

According to the U.S. Census Bureau, construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion. The November figure is 11.3 % above the November 2022 estimate of $1,842.2 billion. During the first eleven months of this year, construction spending amounted to $1,817.1 billion, 6.2 % above the $1,711.1 billion for the same period in 2022. This upward trend underscores the robustness of infrastructure investments and urban expansion initiatives, particularly within the polyurethane market in the United States.

Packaging represents another significant application area for polyurethane in the U.S. Polyurethane foam is commonly used for protective packaging of fragile goods during transit, offering cushioning and shock absorption properties. Additionally, polyurethane coatings provide moisture resistance and barrier protection for packaging materials, ensuring product integrity and extending shelf life. With the growth of e-commerce and the need for secure packaging solutions, the demand for polyurethane in the packaging industry is poised to increase.

The furniture industry also relies heavily on polyurethane foams for cushioning and padding materials due to their comfort, resilience, and cost-effectiveness in the U.S. Moreover, the electronics sector utilizes polyurethane coatings for circuit protection and insulation, ensuring the reliability and longevity of electronic devices. The expanding consumer electronics industry and technological advancements fuel the demand for polyurethane-based coatings and encapsulants.

However, COVID-19 has significantly impacted the polyurethane market in the U.S., causing disruptions across the supply chain and affecting demand dynamics. The pandemic-induced lockdowns and restrictions led to a slowdown in construction activities, automotive production, and consumer spending, dampening the demand for polyurethane products. Moreover, supply chain disruptions, including raw material shortages and transportation challenges, further exacerbated the situation, leading to production delays and increased manufacturing costs.

Market Trends

Rising adoption of methylene diphenyl di-isocyanate

The polyurethane market in the United States has witnessed a significant uptick in the adoption of methylene diphenyl di-isocyanate (MDI). One key factor contributing to the increased adoption of MDI is the growing construction industry in the U.S. With the construction sector experiencing robust growth due to infrastructure development projects and increasing demand for energy-efficient buildings, the demand for polyurethane insulation materials has surged, consequently driving up the consumption of MDI.

Moreover, the automotive sector is another major consumer of polyurethane products, particularly in manufacturing vehicle interiors, seating, and insulation components. As the automotive industry continues to innovate towards lighter, more fuel-efficient vehicles with enhanced comfort and safety features, the demand for polyurethane materials and MDI is expected to rise further.

According to Select USA, the surge in the polyurethane market in the United States coincided with significant activity in the automotive sector. In 2020, international automakers produced 5 million vehicles in the United States. Additionally, automotive parts exports, valued at $66.7 billion, further contributed to the country's trade in this sector. This growth trajectory correlates with the rising adoption of methylene diphenyl di-isocyanate in the polyurethane market, indicating a significant synergy between automotive manufacturing and polyurethane utilization in the U.S.

Additionally, the furniture and bedding industries rely heavily on polyurethane foam for manufacturing mattresses, cushions, and upholstery due to its superior comfort and resilience properties. With consumer preferences shifting towards more comfortable and durable furniture solutions, there is a growing demand for polyurethane-based products, thereby boosting the consumption of MDI. Hence, the increasing demand for polyurethane products across construction, automotive, furniture, and bedding industries is driving the significant uptick in MDI adoption in the United States.

Increasing adoption of flexible foam

The polyurethane market in the United States has witnessed a significant surge in adopting flexible foam in recent years. One of the primary drivers behind the increasing adoption of flexible foam in the polyurethane market is its versatility and adaptability. Flexible foam offers various physical properties, including softness, resilience, and durability, making it suitable for diverse applications. Industries such as furniture manufacturing, automotive, bedding, and packaging have increasingly turned to flexible foam in the U.S. due to its ability to conform to different shapes and provide comfort and support.

Moreover, the growing emphasis on sustainability and environmental consciousness has spurred consumer product demand for eco-friendly materials. Flexible foam formulations with bio-based or recycled content have gained traction as manufacturers strive to reduce their carbon footprint and meet regulatory requirements. These sustainable alternatives offer comparable performance to traditional flexible foams while minimizing environmental impact, thus appealing to environmentally conscious U.S. consumers and businesses.

Technological advancements and manufacturing processes have also contributed to the widespread adoption of flexible foam in the polyurethane market. Innovations in foam chemistry, such as developing high-resilience foams and viscoelastic materials, have expanded the range of applications for flexible foam and improved product performance. Therefore, the surge in adoption of flexible foam in the polyurethane market in the United States is attributed to its versatility, sustainability efforts, and technological advancements, driving its use across various industries.

Competition Analysis

The polyurethane market in the United States is a significant segment within the broader chemicals and materials industry, driven by its diverse applications across the construction, automotive, furniture, appliances, and packaging sectors. One of the major players in the U.S. polyurethane market is Covestro LLC, a leading supplier of polyurethane raw materials and solutions. Covestro offers a wide range of polyurethane products, including raw materials such as polyols and isocyanates and formulated systems for various applications. The company's extensive portfolio caters to diverse industries, providing solutions for insulation, adhesives, coatings, elastomers, and more. With a focus on sustainability and innovation, Covestro continues to drive advancements in polyurethane technology, promoting energy efficiency, durability, and environmental responsibility.

Another key player in the U.S. polyurethane market is Dow Chemical Company, offering a comprehensive range of polyurethane raw materials, additives, and systems. Dow's polyurethane solutions are utilized in insulation, sealants, adhesives, coatings, and flexible foams, serving industries such as construction, automotive, and packaging. Leveraging its global presence and research capabilities, Dow is committed to developing sustainable polyurethane solutions that address customer needs while minimizing environmental impact.

Huntsman Corporation is also a prominent player in the U.S. polyurethane market, providing a diverse portfolio of polyurethane raw materials, systems, and specialty products. The company's offerings include polyols, isocyanates, additives, prepolymers used in insulation, flexible foams, rigid foams, coatings, and elastomers. With a focus on innovation and customer collaboration, Huntsman works closely with industry partners to develop tailored polyurethane solutions that meet performance requirements and regulatory standards.

In addition to these major players, several other companies contribute to the competitiveness and innovation of the U.S. polyurethane market. Companies such as Wanhua Chemical Group, Mitsui Chemicals, Inc., and Recticel are active in polyurethane manufacturing and supply, offering various products and services to meet customer needs. These companies leverage their chemistry, engineering, and manufacturing expertise to develop innovative polyurethane solutions that address industry demands and drive industry growth. By focusing on sustainability, performance, and customer collaboration, companies within the polyurethane market are poised to capitalize on opportunities and address challenges, shaping the future of polyurethane materials and applications in the United States.

List of Key Companies Profiled

• ArcelorMittal S.A.
• thyssenkrupp AG
• BASF SE
• Covestro AG
• The Dow Chemical Company
• Huntsman Corporation
• Lanxess AG
• Mitsui Chemicals, Inc.
• Tosoh Corporation
• Eastman Chemical Company

US Polyurethane Market Report Segmentation

By Raw Material

• Polyols
• Toluene Di-isocyanate
• Methylene Diphenyl Di-isocyanate
• Others

By Application

• Construction
• Furniture & Interiors
• Electronics & Appliances
• Footwear
• Automotive
• Packaging
• Others

By Product

• Rigid Foam
• Flexible Foam
• Coatings
• Adhesives & Sealants
• Elastomers
• Others

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 US Polyurethane Market, by Raw Material
1.4.2 US Polyurethane Market, by Application
1.4.3 US Polyurethane Market, by Product
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Opportunities
2.2.3 Market Restraints
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter Five Forces Analysis

Chapter 3. Strategies Deployed in Polyurethane Market.

Chapter 4. US Polyurethane Market
4.1 US Polyurethane Market by Raw Material
4.2 US Polyurethane Market by Application
4.3 US Polyurethane Market by Product

Chapter 5. Company Profiles – Global Leaders
5.1 ArcelorMittal S.A.
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expenses
5.1.5 SWOT Analysis
5.2 thyssenkrupp AG
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expenses
5.2.5 SWOT Analysis
5.3 BASF SE
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental and Regional Analysis
5.3.4 Research & Development Expense
5.3.5 Recent strategies and developments:
5.3.5.1 Partnerships, Collaborations, and Agreements:
5.3.5.2 Geographical Expansions:
5.3.6 SWOT Analysis
5.4 Covestro AG
5.4.1 Company Overview
5.4.2 Financial Analysis
5.4.3 Segmental and Regional Analysis
5.4.4 Research & Development Expenses
5.4.5 Recent strategies and developments:
5.4.5.1 Partnerships, Collaborations, and Agreements:
5.4.5.2 Product Launches and Product Expansions:
5.4.5.3 Acquisition and Mergers:
5.4.5.4 Geographical Expansions:
5.4.6 SWOT Analysis
5.5 The Dow Chemical Company
5.5.1 Company Overview
5.5.2 Financial Analysis
5.5.3 Segmental and Regional Analysis
5.5.4 Research & Development Expenses
5.5.5 Recent strategies and developments:
5.5.5.1 Partnerships, Collaborations, and Agreements:
5.5.6 SWOT Analysis
5.6 Huntsman Corporation
5.6.1 Company Overview
5.6.2 Financial Analysis
5.6.3 Segment and Regional Analysis
5.6.4 Research & Development Expense
5.6.5 Recent strategies and developments:
5.6.5.1 Acquisition and Mergers:
5.6.6 SWOT Analysis
5.7 Lanxess AG
5.7.1 Company Overview
5.7.2 Financial Analysis
5.7.3 Segmental and Regional Analysis
5.7.4 Research & Development Expenses
5.7.5 Recent strategies and developments:
5.7.5.1 Partnerships, Collaborations, and Agreements:
5.7.6 SWOT Analysis
5.8 Mitsui Chemicals, Inc.
5.8.1 Company Overview
5.8.2 Financial Analysis
5.8.3 Segmental and Regional Analysis
5.8.4 Research & Development Expenses
5.8.5 Recent strategies and developments:
5.8.5.1 Partnerships, Collaborations, and Agreements:
5.8.6 SWOT Analysis
5.9 Tosoh Corporation
5.9.1 Company Overview
5.9.2 Financial Analysis
5.9.3 Segmental and Regional Analysis
5.9.4 Research & Development Expenses
5.9.5 SWOT Analysis
5.10. Eastman Chemical Company
5.10.1 Company Overview
5.10.2 Financial Analysis
5.10.3 Segmental and Regional Analysis
5.10.4 Research & Development Expense
5.10.5 SWOT Analysis

TABLE 1 US Polyurethane Market, 2019 - 2022, USD Million
TABLE 2 US Polyurethane Market, 2023 - 2030, USD Million
TABLE 3 US Polyurethane Market, 2019 - 2022, Kilo Tonnes
TABLE 4 US Polyurethane Market, 2023 - 2030, Kilo Tonnes
TABLE 5 US Polyurethane Market by Raw Material, 2019 - 2022, USD Million
TABLE 6 US Polyurethane Market by Raw Material, 2023 - 2030, USD Million
TABLE 7 US Polyurethane Market by Raw Material, 2019 - 2022, Kilo Tonnes
TABLE 8 US Polyurethane Market by Raw Material, 2023 - 2030, Kilo Tonnes
TABLE 9 US Polyurethane Market by Application, 2019 - 2022, USD Million
TABLE 10 US Polyurethane Market by Application, 2023 - 2030, USD Million
TABLE 11 US Polyurethane Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 12 US Polyurethane Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 13 US Polyurethane Market by Product, 2019 - 2022, USD Million
TABLE 14 US Polyurethane Market by Product, 2023 - 2030, USD Million
TABLE 15 US Polyurethane Market by Product, 2019 - 2022, Kilo Tonnes
TABLE 16 US Polyurethane Market by Product, 2023 - 2030, Kilo Tonnes
TABLE 17 key Information – ArcelorMittal S.A.
TABLE 18 Key Information – thyssenkrupp AG
TABLE 19 Key Information – BASF SE
TABLE 20 key information – Covestro AG
TABLE 21 Key Information – The Dow Chemical Company
TABLE 22 key Information – Huntsman Corporation
TABLE 23 Key Information – Lanxess AG
TABLE 24 Key Information – Mitsui Chemicals, Inc.
TABLE 25 Key Information – Tosoh Corporation
TABLE 26 Key Information – Eastman Chemical Company

List of Figures
FIG 1 Methodology for the research
FIG 2 US Polyurethane Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Polyurethane Market
FIG 4 Porter’s Five Forces Analysis – Polyurethane Market
FIG 5 US Polyurethane Market share by Raw Material, 2022
FIG 6 US Polyurethane Market share by Raw Material, 2030
FIG 7 US Polyurethane Market by Raw Material, 2019 - 2030, USD Million
FIG 8 US Polyurethane Market share by Application, 2022
FIG 9 US Polyurethane Market share by Application, 2030
FIG 10 US Polyurethane Market by Application, 2019 - 2030, USD Million
FIG 11 US Polyurethane Market share by Product, 2022
FIG 12 US Polyurethane Market share by Product, 2030
FIG 13 US Polyurethane Market by Product, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: ArcelorMittal S.A.
FIG 15 SWOT Analysis: thyssenkrupp AG
FIG 16 Recent strategies and developments: BASF SE
FIG 17 SWOT Analysis: BASF SE
FIG 18 Recent strategies and developments: Covestro AG
FIG 19 SWOT Analysis: Covestro AG
FIG 20 SWOT Analysis: The Dow Chemical Company
FIG 21 SWOT Analysis: Huntsman Corporation
FIG 22 Swot Analysis: Lanxess AG
FIG 23 SWOT Analysis: Mitsui Chemicals, Inc.
FIG 24 SWOT Analysis: Tosoh Corporation
FIG 25 SWOT Analysis: Eastman Chemical Company