The Polyol market is projected to grow at a CAGR of 7.5% to reach USD 41 billion by 2026 from 25 billion in 2020 increasing consumption in end-user industries such as construction and automotive has significantly contributed to the growth of this market. Growth of the construction industry in the residential sector, primarily in the Asia Pacific, in order to meet the demand for housing from a rapidly growing population, has led to the demand for building components where polyols are used such as exterior panels, insulation, and protective materials.
The research report analyses the ecosystem of Polyol and categorizes the Polyol Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
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By Type
• Polyether Polyols
• Polyester Polyols
By Application
• Flexible Polyurethane Foam
• Rigid Polyurethane Foam
• Adhesives & Sealants
• Elastomers
• Coatings
• Others
By Region
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Norway
• Italy
• Spain
• Netherlands
• Rest Of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• New Zealand
• Rest Of Asia Pacific
• South America
• ROW
Unique Insights Provided by Polyol Market Report also Includes the Following:
1. In-depth value chain analysis
2. Opportunity mapping
3. Sector snapshot
4. Technology landscape
5. Regulatory scenario
6. Patent trends
7. Market trends
8. Covid-19 impact analysis
9. Raw material supply analysis
10. Pricing trends
11. Sustainability trends and environmental concerns
12. Critical Success Factors
13. Competitive Landscape
14. Customer preferences
In terms of product type, the Polyether Polyols segment is estimated to be the largest segment during the forecast period:
In terms of application, the global Polyol market can be segregated into Polyether Polyols and Polyester Polyols. The Polyether Polyols segment of the Polyol market is projected to be the largest, as it is the critical raw material for manufacturing polyurethane foams which are used in different applications in the construction and automotive industries. Polyurethane foams are majorly used in manufacturing furniture, carpets, vehicle's interior, car seats, and others. They are majorly used in making rigid polyurethane foams. These polyols are responsible for rebound properties, wear and tear resistance, and hydrolytic stability of rigid polyurethane foams.
By Application, the Flexible Foam is expected to be the largest segment:
Both polyether and polyester polyol can be used to make flexible foam. Flexible foam is the largest application segment of the polyols market and accounting for a volume share of over 30.0%.
Flexible foams are widely utilized as cushioning material for furniture, bedding and mattresses, seating, and other soft products in several end-use industries such as furniture and mattress, automotive, handbag and luggage, footwear and textile, home appliances, engineering, and packaging. Elastomers have emerged as the fastest-growing application segment over the forecast period.
Asia-Pacific is expected to be the fastest-growing segment in the forecast period:
The Asia Pacific accounted for the largest share of the Polyol market. It is also the fastest-growing segment. The region is also projected to witness a higher product demand in the coming years on account of increasing consumption in end-user industries. Key Polyol markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia.
The report also provides an in-depth analysis of Polyol Market Dynamics such as drivers, restraints opportunities and challenges:
Polyol Market Drivers:
• Polyol market is growing on account of increasing demand from Automotive and Construction Industries
• Growth in refrigeration and freezer market in Asia Pacific which has in turn created a deand for polyol in this region
Polyol Market Restraints:
• Environmental Regulations for Manufacturing of Polyurethane Foams
Polyol Market Opportunities:
• Increasing Demand for Bio-Based Polyols
• Opportunities for Polycarbonate diols which are premium polyester polyols
Polyol Market Challenges:
• Fluctuating Polyol raw material Prices
Company Profiles and Competitive Intelligence Covered in Polyol Market Report are:
The key players operating in the market are: BASF SE, Covestro AG, Royal Dutch Shell Plc, The Dow Chemical Company, Mitsui Chemicals, Wanhua Chemicals Group, LANXESS AG, Huntsman Corporation, Stepan Company, Repsol SA, Kuraray
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