On the basis of the product type, the global polyols market is segmented into polyether polyols, polyester polyols, and others. The polyether polyols accounted for the largest share of the global polyols market in 2017 owing to its large-scale consumption in flexible and rigid polyurethane foams and is expected to exhibit a steady demand during the forecast period. However, superior properties imparted by the polyester polyols such as high tensile strength, abrasion & wear resistance, as well as solvent & oil resistance, to the polyurethanes are likely to increase its market demand during the forecast period.
On the basis of the application, the global polyols market is segmented into flexible foams, rigid foams, CASE, and others. The flexible and rigid polyurethane foams are collectively expected to hold the largest market share is owing to their strong applications across various end-use industries during the forecast period.
On the basis of the end-user industry, the global polyols market is segmented into construction, automotive, furnishing, consumer appliances, footwear, and others. The construction industry extensively consumed polyols based polyurethane foams insulations in 2017 and is expected to continue growing during the forecast period owing to its growing adoption in developed countries such as North America and Europe. Moreover, automotive and furnishing industries are also expected to witness a growth in the demand during the forecast period. Growing consumer purchasing power is projected to contribute to industrial growth.
Some of the key players in the global polyols market are BASF SE (Germany), Covestro AG (Germany), Stepan Company (U.S.), Royal Dutch Shell PLC (Netherlands), DowDuPont, Inc. (U.S.), Mitsui Chemicals, Inc. (Japan), China National Bluestar (Group) Co, Ltd. (China), Vertellus Holdings LLC (UK), INVISTA B.V. (U.S.), Expanded Polymer Systems Pvt. Ltd. (India), N Shashikant & Co. (India), POLYOLS & POLYMERS PVT.LTD. (India), and Coim Group (Italy).
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The global polyols market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the largest and fastest growing market for polyols during the forecast period, followed by Europe and North America. The Middle East & Africa is expected to witness an increasing demand for polyols during the forecast period. Latin America held the least share of the global polyols market in 2017 and is expected to witness moderate growth during the forecast period.
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