PHOENIX—The NAFTA polyurethane industry has grown in value by 5.1 percent each year in the two years since 2010, said CPI chairman, Gerry Podesta at the Center for Polyurethanes Industry meeting.
Podesta, who is also senior vice president North America, performance materials at BASF S.E., spoke at the opening presentation of the convention. He said that this economic performance is impressive because over the same time, GDP in North America has grown by about 2 percent.
Podesta said that was a "testament to the strength of the industry."
The automotive sector and construction were two of the strongest drivers for the business between 2010 and 2012, Podesta said.
Details of the CPI's two-yearly economic review of the polyurethane business in Canada, the U.S. and Mexico is scheduled to be delivered on Sept. 25 by Hanne Hirsimaki, of IAL Consultants. IAL carried out the 2012 End Use Market Survey for CPI.
The CPI Meeting is being held in Phoenix until Wednesday.