Ireland: Polyurethanes Market 2024

Polyurethanes Market Size in Ireland

In 2021, the Irish polyurethanes market increased by 351% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed significant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyurethanes Production in Ireland

In value terms, polyurethanes production amounted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 96%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Polyurethanes Exports

Exports from Ireland

In 2021, overseas shipments of polyurethanes in primary forms decreased by -94.7% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a sharp slump. The growth pace was the most rapid in 2018 with an increase of 24%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, polyurethanes exports shrank remarkably to $X in 2021. Over the period under review, exports faced a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 42% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for polyurethanes exports from Ireland, with a 49% share of total exports. Moreover, polyurethanes exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), twofold. Italy (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to -28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+73.3% per year) and Italy (+78.1% per year).

In value terms, the largest markets for polyurethanes exported from Ireland were Germany ($X), the UK ($X) and Italy ($X), together accounting for 72% of total exports. The Czech Republic, Poland, Sweden and China lagged somewhat behind, together comprising a further 18%.

The Czech Republic, with a CAGR of +93.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, picking up by 351% against the previous year. Over the period under review, the export price continues to indicate prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($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 the UK (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Polyurethanes Imports

Imports into Ireland

In 2021, purchases abroad of polyurethanes in primary forms was finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw a buoyant expansion. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, polyurethanes imports surged to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The UK (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of polyurethanes imports to Ireland, together accounting for 66% of total imports. These countries were followed by Romania, Spain, Canada, the United States, Italy, the Netherlands and France, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +45.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and the United States ($X) appeared to be the largest polyurethanes suppliers to Ireland, with a combined 61% share of total imports. Spain, Belgium, Romania, Canada, the Netherlands, Italy and France lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Romania, with a CAGR of +50.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, surging by 8.3% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyurethanes import price increased by +84.0% against 2017 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 23%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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