Market Introduction
The South America polyurethane market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Governments of various countries across the region are focusing on the nation's infrastructure development. National, state, and local governments in each country are spending high amounts of capital to meet these needs for good reason. Several programs and incentives are implemented by the governmental bodies to bolster the growth and investments in numerous business opportunities in manufacturing, construction, and other industries. The major market for polyurethane in the South American region is Brazil, followed by Argentina and other countries. Moreover, with robust government and financial support, entry into the Brazilian manufacturing market seems promising. However, there are plenty of reasons which support the entry of several South America companies to carry out their business operations in South American countries. Thus, development in the manufacturing sector and government support for increasing industrial production is expected to flourish the market for polyurethane in this region.
In case of COVID-19, in South America, especially Brazil, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of polyurethane manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for polyurethane during the early months of 2020. Moreover, decline in the overall resin and polymer manufacturing activities has led to discontinuation of polyurethane manufacturing projects, thereby reducing the demand for polyurethane. Similar trend was witnessed in other South America countries, i.e., Argentina, Colombia, Peru, Chile and Ecuador. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Market Overview and Dynamics
The polyurethane market in South America is expected to grow from US$ 3,592.25 million in 2021 to US$ 5,798.03 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028. Rigid polyurethane foams are widely utilized as insulated panels, wall and roof insulation, and gap fillers for the space around doors and windows. To maintain uniform temperature and lower noise levels in residential and commercial properties, builders are adopting rigid polyurethane foam. These foams are effective insulation materials that can be used in roof and wall insulation, doors, insulated windows, and air barrier sealants to save energy. The rigid foam has unique insulating properties that make its use ideal for walls and roofs for building new homes as well as for remodeling of existing homes. Insulation is usually required in cavity walls, floors, roofs, around pipes, and boilers. Due to these beneficial properties of rigid foam, its demand is growing from several end user, which is anticipated to offer immense opportunities for the market player offering rigid foam during the forecast period.
Key Market Segments
Based on product, the flexible foam segment accounted for the largest share of the South America polyurethane market in 2020. Based on application, the furniture and appliances segment accounted for the largest share of the South America polyurethane market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the South America polyurethane market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Covestro AG, the Dow Chemical Company, Lubrizol Corporation, DIC Corporation, BASF SE, Mitsui Chemicals, Inc., Recticel NV, Huntsman Corporation, and Tosoh Corporation.
Reasons to buy report
South America Polyurethane Market Segmentation
South America Polyurethane Market -By Product
South America Polyurethane Market -By Application
South America Polyurethane Market – By Country
South America Polyurethane Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3,592.25 Million |
| Market Size by 2028 | US$ 5,798.03 Million |
| CAGR (2021 - 2028) | 7.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Polyurethane Market is valued at US$ 3,592.25 Million in 2021, it is projected to reach US$ 5,798.03 Million by 2028.
As per our report South America Polyurethane Market, the market size is valued at US$ 3,592.25 Million in 2021, projecting it to reach US$ 5,798.03 Million by 2028. This translates to a CAGR of approximately 7.1% during the forecast period.
The South America Polyurethane Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Polyurethane Market report:
The South America Polyurethane Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Polyurethane Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Polyurethane Market value chain can benefit from the information contained in a comprehensive market report.
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