At 8.0% CAGR, Global Polyols Market Size Set to Reach USD 13.61 Billion by 2022

At 8.0% CAGR, Global Polyols Market Size Set to Reach USD 13.61 Billion by 2022

NEW YORK, NY – May 17, 2018 – Zion Market Research has published a new report titled “Polyols Market (Polyester and Polyether) for Flexible Foam, Rigid Foam, and Other Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global polyols market was valued at USD 21.60 billion in 2016 and is expected to reach USD 34.0 billion in 2022, growing at a CAGR of 8.0% between 2017 and 2022.

The polyol is an alcohol containing multiple hydroxyl groups and is used in polymer chemistry industry. The polyol is a key ingredient used in polyurethane formulations, which is largely used in various industrial applications including rigid & flexible foams, coatings, adhesives, sealants, and elastomer. Moreover, increasing use of polyurethanes in the construction industry is expected to drive the polyols market in the forecast period. Moreover, polyols are witnessing increasing demand for insulation purposes from North America. However, volatility of raw material price could pose a challenge to polyols market within the forecast period. Furthermore, rapidly growing demand for bio-based polyols in order to improve carbon footprint and reduce reliability on scarce raw materials is expected to provide lucrative opportunity in the market.

Key product segments include polyesters and polyethers. Polyether is based on polyoxypropylene polyols and is used in manufacturing polyurethane foams. Polyether polyols demand is mainly driven by demand from the polyurethane industry. In addition, increasing demand for polyester polyol in adhesives and sealants industry is likely to accelerate the growth of the market in the near future.

On the basis of application, the polyols market has been segmented into flexible foams, rigid foams, and others (Coating, Adhesives, Sealants, Elastomer, etc). Rigid polyurethane foam demand is expected from insulation applications; growing flexible foam demand in furniture is expected to drive the polyols market. This can mainly be attributed to the high degree of durability and of products, making them ideal for seating and cushioning. The adhesives and sealants market is expected to witness growth on account of high demand from marine and construction industries.

The demand for polyols in North America remained high owing to the demand from the construction industry in the region. Polyols are witnessing increasing demand for insulation purposes in North America. The use of insulation in homes and buildings helps save a lot of energy. In addition, by consuming less energy, use of insulation directly reduces greenhouse gas emissions. Therefore, aforementioned is likely to fuel the demand for polyol in the region in the coming years.

The demand for polyols in Europe is expected to witness moderate growth owing to market saturation. However, the large automotive industry in the region is expected to drive the polyols market for rigid foam and flexible foam applications in the coming years. Moreover, the infrastructure redevelopment activities in the region are also expected to fuel the demand for polyols in the coming years owing to the extensive usage polyurethanes in building and construction.

The Asia Pacific is one of the leading regional markets for polyols and is expected to grow at a significant rate during the forecast period. Globalization coupled with increasing disposable incomes leads to the shifting preference towards the cities.   As more people move to cities, the facilities and utilities need to be upgraded. Moreover, it also increases the need to minimize electricity consumption and reduce greenhouse gas emissions. This factor has contributed to the increasing use of polyols in building and construction application. Furthermore, usage of polyols in other applications such as automotive, transportation etc., is expected to fuel the growth of the polyols market

Latin America is expected to be an emerging market for polyols with the rising construction and redevelopment activities in the region owing to the touristic activities. Moreover, the large automotive industry in the region is also expected to further fuel the demand for polyols within the forecast period. Additionally, Middle East & Africa is expected to witness significant growth owing to rising construction and redevelopment activities in the region. Moreover, the increased demand for insulation products and awareness regarding the greenhouse gas emissions is expected to further propel the demand for polyols within the forecast period.

Some of the major market players of polyols mainly include BASF SE, Royal Dutch Shell PLC, Dow Chemicals, Bayer AG, Cargill Incorporated, Invista B.V., COIM S.P.A., Mitsui Chemicals, Inc., Lonza Group, Emery Oleochemicals and Chemtura Corporation among others.

The report segments the global polyols market as:

Global Polyols Market: Type Analysis

  • Polyester polyol
  • Polyether polyol

Global Polyols Market: Application Analysis

  • Flexible Foam
  • Rigid Foam
  • Others (Coating, Adhesives, Sealants, Elastomers, etc )

Global Polyols Market: Regional Analysis

  • North America 
    • The U.S.
  • Europe 
    • UK
    • France
    • Germany
  • Asia Pacific 
    • China
    • Japan
    • India
  • Latin America 
    • Brazil
  • The Middle East and Africa

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