Global Polyols Market by Application (Adhesives & Sealants, Flexible Foam, Coatings, Rigid Foam), by Product (Polyester, Polyether) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2017, the global polyol market was worth USD 23.60 million. It is projected to grow at an 8.5% CAGR over the forecast period. Rigid foams with high insulation properties are in demand due to rising energy conservation efforts. Over the forecast period, this will be a major driver of the global market.

The growth of the construction industry, especially in Asia Pacific to support a rapidly growing population, is expected to increase product consumption in building components like exterior panels, insulation protective material, and housing electronics. Market growth is also being supported by the expansion of the automotive and packaging industries.

Furthermore, key manufacturers have been investigating bio-based polyols to reduce dependence on conventional petrochemical-derived polyols given rising environmental concerns and volatility in raw material prices. The vendor landscape is oligopolistic and concentrated. Top manufacturers held a market share of more than 45.0% as of 2017.

Market leaders have set the standard for other players by implementing different strategies. New entrants seek out more lucrative opportunities in the global polyol market. To be successful in this market, companies must compete with established multinationals like Huntsman International LLC and Eastman Chemical Corporation.

Forward integration is a way for polyol suppliers to make polyester. This allows them to significantly reduce logistics costs and simplify procurement. Suppliers have to integrate into the production process in order to retain high-quality products. This has led to consumers becoming more aware of product benefits.

Product Insights

Polyether polyols held the largest global market share in 2017. This segment is expected to maintain its dominance in the future. The rebound properties of polyether polyols, wear and tear resistance, hydrolytic stability, and hydrolytic stability are the reasons it is used in the formulation rigid Polyurethane Foams. They are used in a variety of industries, including packaging, construction, and transportation.

Because of their high tensile strength, shock absorption and vibration dampening properties, polyester polyols are widely used. Polyether and polyester are both used in polyurethane and urethane applications. The industry is expected to grow due to increased demand for PU foams, coatings, adhesives sealants and elastomers.

Application Insights

Flexible foam was the most popular application segment in 2017, accounting for more than 27.0% of the market's total volume. Flexible foams are used as cushioning material in furniture, bedding, mattresses, seating and other soft products in many end-use industries, including automotive, handbag, luggage, footwear, textile, engineering, packaging, and automotive.

Flexible foams can be made from both polyether and polyester polyols. These foams have an average density of 1.5-3 lb/ft3. Polyol-based flexible foam has excellent mechanical properties, high durability, resiliency and energy absorption. It is likely to be in demand by many industries during the forecast period.

Elastomers will be the fastest-growing segment of the application market over the forecast period. Elastomers combine the strength of rubber and plastic to create polymers that have the flexibility of rubber. Due to their outstanding chemical and mechanical properties, low costs, and long durability, polyol-based Elastomers can be used in molded rubber parts in many industries, including building and construction and apparel and footwear.

Regional Insights

Asia Pacific was the most important regional market in 2017, with a share exceeding 45.0%. The region's key drivers are expected to be the growing automotive industry and increasing polymer consumption. APAC will likely experience the fastest growth during the forecast period.

Europe was led by France, U.K. and Germany as the region with the highest polyols consumption in 2017. The demand for polyols is expected to rise in Europe due to the increasing demand for insulation in low income households in order to save energy. This is in addition to favorable regulatory support from governments.

From 2018 to 2025, Latin America will be the second-fastest growing region market after Asia Pacific. This is due to the existence of several automotive OEMs and the growth of the construction industry. To lower their production costs, the region's automobile manufacturers are becoming more competitive.

Market Share in Polyols

Covestro and BASF SE are some of the most prominent players. Shell, Huntsman, and The Dow Chemical Company are just a few others. Covestro, Dow Chemical, and BASF have excellent research and development capabilities, as well as a global presence and loyal customers. New entrants to the global market face significant challenges in deploying large amounts of capital and developing technical know-how.

In the next few years, both the automotive and building and construction industries of developing countries in Asia Pacific will experience rapid growth. China and India are expected to be major demand drivers for the global automobile market. This is why polyol suppliers and manufacturers are increasingly focusing their attention on the region.

Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and an analysis of industry trends in each sub-segment from 2014 to 2025. Up Market Research has divided the global polyols market report by product, region, and application.

• Product Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Polyether

  • Polyester

• Application Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Rigid Foam

  • Flexible Foam

  • Coatings

  • Adhesives & Sealants

  • Elastomers

  • Other

• Regional Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

Up Market Research published a new report titled “Polyols Market research report which is segmented by Application (Adhesives & Sealants, Flexible Foam, Coatings, Rigid Foam), by Product (Polyester, Polyether), By Players/Companies Polyester, Product Outlook (Volume Kilotons; Revenue USD Million 2014 - 2025)PolyetherPolyester, Polyether”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Polyols Market Report Segments:

The market is segmented by Application (Adhesives & Sealants, Flexible Foam, Coatings, Rigid Foam), by Product (Polyester, Polyether).

Polyols Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Polyols Market

Overview of the regional outlook of the Polyols Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Polyols Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Polyols Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Adhesives & Sealants

                2. Flexible Foam

                3. Coatings

                4. Rigid Foam

                1. Polyester

                2. Polyether

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Polyols Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Polyols Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.