United Kingdom: Polyurethanes Market 2024

Polyurethanes Market Size in the UK

In 2021, the UK polyurethanes market increased by 0.6% to $X, rising for the fifth year in a row after three years of decline. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Polyurethanes consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Polyurethanes Production in the UK

In value terms, polyurethanes production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 11% against the previous year. Polyurethanes production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Polyurethanes Exports

Exports from the UK

In 2021, shipments 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. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 15%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyurethanes exports surged to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Poland (X tons) and France (X tons) were the main destinations of polyurethanes exports from the UK, together accounting for 33% of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +11.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Poland ($X) were the largest markets for polyurethanes exported from the UK worldwide, with a combined 31% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +12.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyurethanes export price stood at $X per ton in 2021, growing by 30% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($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 South Africa (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into the UK

In 2021, the amount of polyurethanes in primary forms imported into the UK expanded notably to X tons, with an increase of 12% compared with 2020 figures. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, polyurethanes imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of polyurethanes to the UK, accounting for a 35% share of total imports. Moreover, polyurethanes imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.8% per year) and Belgium (+0.8% per year).

In value terms, Germany ($X) constituted the largest supplier of polyurethanes in primary forms to the UK, comprising 34% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.5% per year) and the United States (+5.8% per year).

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, with an increase of 12% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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