PU in primary forms market in Italy

Earlier Report Observations

Between 2018 and 2020, the Italian market for polyurethanes in primary forms contracted in volume terms, falling from 381.4 thousand tons to 293.9 thousand tons, while its value dropped to $558 million after a peak in 2019.

Market volume recovered to 395.8 thousand tons by 2022, accompanied by a surge in value to $974 million. This rebound occurred amid severe raw material shortages, particularly of key isocyanates like MDI and TDI, and unprecedented price increases for chemicals, energy, and logistics. Growing demand for recyclable and bio-based polyurethanes also encouraged Italian firms to invest in research and development.

In 2023, volume fell to 320.3 thousand tons, coinciding with the EU's mandatory ECHA safety training rules for workers handling diisocyanates and a 17.7% drop in exports. Ongoing supply chain difficulties and high costs persisted into 2024, though volume edged up to 326.5 thousand tons as demand from construction, automotive, and furniture sectors grew, supported by technological innovations such as CO₂-based polyurethanes.

Production PU in primary forms in Italy

In value, 2017-2020, M $ US

In 2020, Italy's production of PU in primary forms was valued at 840 million US dollars, marking a significant 24.6% decrease compared to 2019. Over the 2017-2020 period, production fell by 18.9%, with an annualized decline rate of 6.8%. The peak value occurred in 2019 at 1 113 million US dollars, which also saw the largest increase of 14.7%.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Italy's production of PU in primary forms declined for the second consecutive year. In 2020, output reached 389.2 thousand tonnes, down 16.1% from the previous year. Between 2017 and 2020, production decreased by 14.2%, equivalent to an annualized rate of 5.0%. The highest production level was recorded in 2018 at 481.6 thousand tonnes, which also experienced the largest increase of 6.2%.

Annual dynamics of production in Italy in kind, 2017-2020, K t

Exports PU in primary forms from Italy

Exports in kind, K t

Italy's exports of PU in primary forms fell for the third consecutive year. In 2020, exports stood at 178.7 thousand tonnes, showing a modest 4.3% decrease compared to 2019. Over the 2017-2020 period, exports declined by 11.4%, with an annualized reduction rate of 3.9%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, K t

From 2017 to 2020, Turkey (10.9% of exports in kind), Germany (6.5%), and Spain (5.9%) were the largest buyers of PU in primary forms from Italy, though they were not dominant. Together, these three countries accounted for 23.3% of total exports in kind, with the remainder distributed among numerous smaller partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

Italy's exports of PU in primary forms in value terms declined for the second consecutive year. In 2020, exports amounted to 546.6 million US dollars, representing a 7.5% year-on-year decrease. Between 2017 and 2020, exports fell by 13%, equivalent to an annualized decline of 4.5%. The peak value was recorded in 2018 at 692.8 million US dollars, which saw the largest increase of 10.2%. The largest decline occurred in 2019 at 14.7%.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

From 2017 to 2020, Italy's exports of PU in primary forms in value terms were distributed across a wide range of partner countries. Turkey (9.2% of exports in value terms), Germany (8.3%), and Spain (5.8%) together accounted for just 23.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports PU in primary forms to Italy

Imports in kind, K t

Italy's imports of PU in primary forms in kind declined for the second consecutive year. In 2020, imports totaled 98.0 thousand tonnes, reflecting a measured 5.1% contraction compared to 2019. Over the 2017-2020 period, imports decreased by 14.4%, with an annualized decline rate of 5.0%. The highest import level was recorded in 2018 at 98.0 thousand tonnes, which saw the largest increase of 0.6%. The largest decline occurred in 2019 at 10.3%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, K t

Between 2017 and 2020, Germany (49.8% of imports in kind), the Netherlands (8.1%), and Spain (6.5%) formed the main cluster of markets for Italy's imports in kind. Together, these three countries accounted for 64.5% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

Italy's imports of PU in primary forms in value terms declined for the second consecutive year. In 2020, imports reached approximately 265.1 million US dollars, marking a robust 10.6% decrease from the previous year. Over the 2017-2020 period, imports fell by 15.4%, with an annualized decline rate of 5.4%. The peak value was recorded in 2018 at 336.2 million US dollars, which saw the largest increase of 7.3%. The largest decline occurred in 2019 at 11.8%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

Throughout 2017-2020, Germany (55.9% of imports in value terms), Belgium (8.7%), and the Netherlands (8.4%) played the leading roles in Italy's imports of PU in primary forms in value terms. Together, these three countries accounted for 73.0% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020