Canada: Polyurethanes Market 2024

Polyurethanes Market Size in Canada

The Canadian polyurethanes market skyrocketed to $X in 2021, increasing by 20% against the previous year. Over the period under review, consumption recorded strong growth. Polyurethanes consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Polyurethanes Production in Canada

In value terms, polyurethanes production soared to $X in 2021 estimated in export price. Over the period under review, production posted a significant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 134%. Polyurethanes production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Polyurethanes Exports

Exports from Canada

In 2021, shipments abroad of polyurethanes in primary forms increased by 14% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports posted strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 31%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, polyurethanes exports surged to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.8% against 2019 indices. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for polyurethanes exports from Canada, accounting for a 80% share of total exports. Moreover, polyurethanes exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold. The third position in this ranking was held by the Czech Republic (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+12.7% per year) and the Czech Republic (+7.4% per year).

In value terms, the United States ($X) remains the key foreign market for polyurethanes in primary forms exports from Canada, comprising 77% of total exports. The second position in the ranking was held by China ($X), with a 4.3% share of total exports. It was followed by the Czech Republic, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-1.9% per year) and the Czech Republic (+6.8% per year).

Export Prices by Country

The average polyurethanes export price stood at $X per ton in 2021, picking up by 15% against the previous year. In general, the export price, however, saw a pronounced contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.5%), while the prices for the other major destinations experienced a decline.

Polyurethanes Imports

Imports into Canada

In 2021, supplies from abroad of polyurethanes in primary forms was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of polyurethanes to Canada, with a 85% share of total imports. Moreover, polyurethanes imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.0% per year) and China (+24.5% per year).

In value terms, the United States ($X) constituted the largest supplier of polyurethanes in primary forms to Canada, comprising 81% of total imports. The second position in the ranking was taken by Germany ($X), with a 5.7% share of total imports. It was followed by China, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.0% per year) and China (+32.6% per year).

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, rising by 1.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and China ($X per ton), while the price for the United States ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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