John Televantos has many years’ experience in the North American polyurethane and chemicals industries. He gave the keynote address at UTECH North America 2018 in Charlotte, North Carolina earlier this year. Here’s what he said.
The polyurethane industry today is very healthy. Our industry continues to innovate on so many fronts, to create new avenues where polyurethanes can solve problems. And surprise and delight.
Demand for polyurethane across NAFTA grew by about 4.4% per year between 2014 and 2016. Growth between 2016 and 2018 is continuing at that level or higher. Compounded annual growth in the US was closer to 4.6%. While in Canada demand is closer to 2.7%. Between 2014 and 2016 and in Mexico demand growth was a little higher than Canada.
Polyurethane production volume over the same period has volume has increased by about 2.4% to 4.4%, and is now around lbs 8 bn. The first time the production has the past the pre-crash level of 2006 of lbs 7.6 bn.
This growth is being driven by a few undeniable consumer trends. These include: Personalisation from clothes to cars, to furniture; Continued urbanisation; greater investments in personal technology and personal comfort; greater environmental awareness; and, a greater interest in to prevention in health and wellness.
Many of these trends rely on…