The global demand for UPR increased by 3.4% in Q2 2021 from Q1 2021. In Q2 2021, major end use industries grew resulting in increased demand of UPR. The global light vehicle sales grew by 35% and US housing starts grew by 46% in Q2 2021 as compared to Q2 2020. The UPR price on average increased about 16.2% in the Q2 2021 when compared to Q1 2021. Growth in the UPR prices was driven by the increase in raw material prices such as styrene; the price of styrene increased by ~32.1% in the Q2 2021. The figure below depicts the change in demand and the price of UPR in the past five quarters.
Figure 1: Global Quarterly Change in UPR Shipment and Price Trends
In Q2 2021, the North American UPR market increased as major end use industries including automotive, aerospace, PCB, and drilling activities began to show upward trend. Light vehicle sales in North America increased showed double digit growth i.e. by 15% in Q2 2021 from Q1 2021. Aircraft deliveries in the region witnessed very high growth in Q2 2021, while drilling activities increased by 2% in this quarter, putting positive impact on UPR market.
In Q2 2021, the demand for UPR in Europe increased as compared to Q1 2021. There were increases in demand and normal functioning in production activities of major end use industries. Light commercial vehicles sales in Europe grew by 78% in Q2 2021 compared to Q2 2020, creating a favorable impact on UPR demand.
Asian UPR demand increased in Q2 2021 as compared to Q1 2021, supported by growth in the transportation industry and increase in drilling activities for oil and gas industry in this quarter. Electrical & electronics demand was also increased, during Q2 2021, driven by revival in the Chinese market. Construction activities in Japan increased by 15.7% in Q2 2021, when compared to Q1 2021.Enable GingerCannot connect to Ginger Check your internet connection
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