London – The coronavirus pandemic reduced the size of the polyurethane market in North and South by 4.7% in 2020 compared with 2019, according to a new report from IAL Consultants.
Coronavirus took 5% off the PU industry in the Americas last year
Despite this, they expect production to bounce back strongly in 2021, and surpass the level seen in 2019. However, the consultants warned that the rebound will mask varying fortunes across the different end-use categories. By 2025, total production in North and South America is forecast to be about 5.89MT/year.
The US market continues to dominate the regions. It accounts for about 71% of output followed by Brazil and Mexico. ‘[South America accounts for] just 15% of regional output, and its PU sector is still at a relatively nascent stage,’ they said.
In 2020, the greatest effect of the coronavirus pandemic was felt in Venezuela, where polyurethane output fell by more than 20%. There were also significant falls of 10% in Canada and Colombia, while the US escaped with only a 3% fall in output.
This, and much more sectoral analysis, is available in the eight-volume report Polyurethane Chemicals and Products in the Americas, which updates a report published in 2020.