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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 25.6 Billion
• Forecast CAGR (2021-2026): 6%
• Forecast Market Size (2026): USD 35.7 Billion
The growth of the global polyol market is driven by the increasing demand from construction sector. The growing demand for construction products such as electronics, insulation materials and external panels are expected to push the market growth. Additionally, increasing urbanisation and construction projects are projected to increase demand for doors, windows, building panels, furniture, and carpets. Moreover, the growing demand for polyol derivative flexible polyurethane foam from automobile industry for arm rests, headliners for heating and ventilation among others is expected to further boost the market growth.
Industry Definition and Major Segments
Polyols are organic compounds containing multiple hydroxyl groups. Polyols find application primarily in polymer chemistry such as manufacturing of adhesives, sealants, polyurethane foam coatings, and elastomers, among others.
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The types of the product can be divided into the following:
• Polyether Polyols
• Polyester Polyols
It finds wide applications in the following:
• Flexible Polyurethane Foam
• Rigid Polyurethane Foam
• CASE (Coatings, Adhesives, Sealants & Elastomers)
By industry, the polyols market can be segmented into:
• Carpet Backing
• Footwear
Others The regional markets for polyols include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Regionally, Asia Pacific is expected to lead the global market for polyols. The rapid urbanisation and industrialisation in the developing economies such as India and China are expected to drive the regional demand for polyols. The region is also anticipated to witness the fastest growth rate. Meanwhile, Europe and North America are projected to hold a significant share attributing to the increasing demand for building insulation materials. Additionally, the increasing government legislations towards improving energy efficiency of the buildings, conserve electricity and reduce greenhouse emissions is projected to boost the demand for rigid and flexible polyurethane products over the forecast period.
Key Market Players
The major players in the market are BASF SE, Royal Dutch Shell Plc, Covestro AG, Dow, Wanhua Chemical Group Co., Ltd., Huntsman International LLC, Mitsui Chemicals Inc., Stepan Company, Repsol, and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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