Polyurethane Price Trend

Polyurethane Prices December 2023

In Q4 2023, polyurethane hits 1885 USD/MT in the US up to December, the prices of Polyurethane Resin fell slightly by around 1.5% before rising by 2%, mainly due to prices of feedstock namely; Methylene Diphenyl Diisocyanate and Toluene Diisocyanate.

The polyurethane price in Germany in Q4 2023 was 2605 USD/MT in December, and similar to Q3 2023, it followed a bearish trend throughout the quarter as the price contracted to approximately 6% from the prices recorded in the previous month.

Polyurethane Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Polyurethane Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of polyurethane pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing polyurethane price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Polyurethane Market Analysis

• The global polyurethane market size reached US$ 80.73 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 122.05 Billion, at a projected CAGR of 4.70% during 2023-2032.
• The rising demand for energy-efficient buildings boosts the need for polyurethane insulation materials.
• In the automotive industry, polyurethane's lightweight and durable nature is essential for manufacturing fuel-efficient vehicles, thus contributing to market expansion.
• The increasing use of polyurethane in the furniture and bedding industries, where comfort and longevity are crucial, is positively impacting the market.
• Innovations in polyurethane formulations, such as the development of bio-based and recyclable polyurethanes, are also fostering the market growth.
• The Asia-Pacific region, particularly China and India, is witnessing significant market expansion due to rapid industrialization, urbanization, and a growing middle-class population demanding better consumer goods and infrastructure.
• The electronics industry is driving demand for polyurethane due to its excellent electrical insulation properties, which are vital for manufacturing components such as cables, connectors, and casings.
• The medical industry also represents a growing segment, utilizing polyurethane in products like medical devices, wound dressings, and surgical drapes due to its biocompatibility and flexibility.
• The expanding transportation sector, particularly in emerging economies, requires high-performance materials for infrastructure projects, further fueling the demand for polyurethane.
• Continual advancements in manufacturing technologies, such as 3d printing, are opening new avenues for polyurethane applications, enhancing its market penetration across various industries.
• The shifting trends towards customization and innovation in consumer goods, such as sports equipment and fashion accessories, is propelling the demand for polyurethane, which can be tailored to meet specific performance and aesthetic requirements.
• The increasing trend towards urbanization and the development of smart cities worldwide are expanding the use of polyurethane in infrastructure, transportation, and consumer products, ensuring sustained market growth.
• The marine industry benefits from polyurethane's water resistance and durability, essential for boat construction and maintenance.
• The sports and recreation industry is leveraging polyurethane's versatility for products such as sports equipment, protective gear, and artificial turf, driving additional demand.
• The increasing investments in research and development to create advanced polyurethane composites and blends are opening up new application areas and driving innovation in the market.

Polyurethane News

The report covers the latest developments, updates, and trends impacting the global polyurethane market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in polyurethane production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the polyurethane industry:

• On April 15, 2024, BASF will present new sustainable polyurethane concepts and recycling methods, focusing on the circular economy, at UTECH Maastricht (April 23-25) at stand E20.
• On May 22, 2024, Covestro's Foam Recycling Ecosystem Evolution (FREE) project, combining chemical and mechanical processes, develops a new concept for recycling end-of-life polyurethane mattress foams, emphasizing efficient sorting at dismantlers.
• On May 21, 2024, Huntsman Corporation released its 2023 sustainability report, "Solutions for Sustainability," available on Huntsman.com/sustainability. The report highlights Huntsman's crucial role in addressing sustainability challenges, with Senior VP Brittany Benko stating, "Our products are essential for achieving sustainability goals."

Product Description

Polyurethane (PU) belongs to the family of polymers and is composed of organic units joined by carbamate (urethane) links. Polyurethane is produced using polymerization where the constituents are combined and converted into polymers creating structures of connected chains that give specific characteristics. The final product can be expanded to generate rigid or flexible open-cell foams, and thermoplastic or thermosetting polymers, elastomeric products among others. Its significance is in the improvement of the quality of the final product in the aspects of durability, comfort, and energy efficiency. Polyurethane proved to have high strength, abrasion, and impact resistance, flexible characteristics as well as IT and acoustic insulation capabilities.

It is also characterized by a tremendous lightness which is, however, not accompanied by weakness. Due to these characteristics, polyurethane is relatively vital in numerous industries for instance construction, automobile, electronics, and consumer goods industries among others. Polyurethane is used in almost all areas of our day-to-day life, some of the common uses include mattresses, upholstered furniture, footwear, and even clothing. This material has numerous positive characteristics that make it an essential material for the creation of new solutions in varied segments of the industry, which demonstrates its function in shaping the development of modern technologies and increasing the quality of associated services.

Regional Coverage

The report provides a detailed analysis of the polyurethane market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Polyurethane Price

The report offers a holistic view of the global polyurethane pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Polyurethane Price

For Q4’2023 the prices of polyurethane resin in Europe were bearish as the prices fell by nearly 6% in the said quarter. This decrease was due to lower costs of major raw materials; Methylene Diphenyl Diisocyanate decreased by 7% and Toluene Diisocyanate fell by 11%. In addition to this, the construction industry, which has been considered poor for many months continued to record retrenchment for the third consecutive month. All construction sectors, including housebuilding, commercial building, and civil engineering, contracted, with housebuilding showing the poorest performance. Residential permits declined for the eighth consecutive month, and subcontractor availability eased for the sixth month. The decline in workloads led to inventory pushbacks and job shedding across the industry. Real estate firms reported unfavorable demand conditions and pessimistic investment sentiments, marking the thirteenth month of continuous decline in the construction sector.

This analysis can be extended to include detailed polyurethane price information for a comprehensive list of countries.

North America Polyurethane Price

In Q4 2023, the North American polyurethane resin market experienced mixed price movements. Initially, prices depreciated by approximately 1.5% but later increased by 2%, influenced by the fluctuating costs of feedstocks Methylene Diphenyl Diisocyanate and Toluene Diisocyanate. Strong demand from the downstream paints and coatings segment of the automotive industry, particularly from Mexico and Brazil due to nearshoring activities, bolstered market dynamics. The establishment of new automotive manufacturing facilities in Mexico significantly increased the demand for automotive paint. Towards the end of the quarter, automotive sales in Mexico increased by 13%, driving the improvement in the U.S. polyurethane resin market. Additionally, a 10% increase in domestic automotive sales in the U.S. further supported the demand for polyurethane resin, reflecting the sector's healthy performance and contributing to market stability.

Specific data on polyurethane prices within the United States and Canada can also be provided.

Middle East and Africa Polyurethane Price

The report explores the polyurethane pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on polyurethane prices for countries can also be provided.

Asia Pacific Polyurethane Price

In Q4 2023, the Asia-Pacific region experienced significant fluctuations in polyurethane resin prices. Initially, prices depreciated by 2% in October due to eased production costs driven by the feedstock Toluene Diisocyanate and Polyol markets. However, prices increased by approximately 3% in November and December, influenced by improved purchasing sentiments during the festive period in importing markets such as the US and Europe. Major US retailers offered discounts in the downstream furniture industry to maintain purchasing activities, which prompted Japanese suppliers to raise their prices. Mid-quarter, Japanese manufacturers faced increased input costs, including labor and energy, preventing further price depreciation. Export orders were positive as manufacturers completed backlogs and received new orders from US and European clients, contributing to the upward price trend in the region.

This analysis can be further extended to include detailed polyurethane prices for a comprehensive list of countries within the region.

Latin America Polyurethane Price

The analysis of polyurethane prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of polyurethane pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting polyurethane price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the polyurethane industry.