PUBLISHER: Market Research Future | PRODUCT CODE: 1691644
PUBLISHER: Market Research Future | PRODUCT CODE: 1691644
Global Polyols Market Research Report Information by Product (Polyether, Polyester), By Application (Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants), And by Region (North America, Europe, Asia-Pacific, And Rest of The World) Market Forecast Till 2035
Polyols have a wide range of applications and are inexpensive to manufacture. As a result, organic compounds with different hydroxyls contributed to a variety of applications. The construction industry makes extensive use of polyols. The demand for energy-efficient buildings is increasing. The growing population's use of energy-saving technology is steadily increasing. The use of polyurethane rigid foams as construction materials is expanding due to their energy-saving properties. They are utilized as insulators, conserving energy and emitting few greenhouse gases.
The advancements in the automotive and construction industries, together with rising demand, are regarded as the primary drivers of polyol market expansion. For example, polyurethane foams derived from polyols are gaining popularity in the automotive and construction industries for cushioning and sleeping. Polyurethane foam use has surpassed the 65% growth rate in recent years.
The creation of artificial sweeteners in the food industry is also regarded as a major driver of polyol market expansion. Polyols, also known as sugar alcohols, have low-calorie carbohydrates and are consequently widely utilized in chewing gums, candies, and ice creams. The growth of the food sector influences the growth of the polyols industry.
Furthermore, the efficacy of polyol-derived end products, such as rigid polyurethane foams, is predicted to drive overall growth in the polyols market throughout the projection period. For example, manufacturers favor polyurethane foams over other alternatives for applications like as architecture and construction, electronics, automotive, and others due to their superior efficiency.
Market Segment insights
Polyether and polyester are among the polyols market's product segments. Polyether polyols held the biggest market share in 2020.
The Polyols Market is divided into five segments based on application: flexible foam, rigid foam, coatings, adhesives, and sealants.
Regional insights
The analysis covers market insights for North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific: The Asia-Pacific region dominates the polyols market, accounting for more than half of the global share. The polyols market in this region is expanding due to fast industrialization, economic expansion, and rising demand for polyurethane goods. China and India are the largest markets in this region, followed by Japan and South Korea.
The North American polyol market is predicted to increase at a moderate rate due to rising demand for energy-efficient and sustainable materials in the building industry. The United States is the largest polyol market in North America, followed by Canada and Mexico.
The European polyol market is driven by the need for polyurethane products in the automotive and construction industries. Germany is Europe's largest market for polyols, followed by France, the United Kingdom, and Italy.
Major polyol market participants are BASF SE (Germany), Covestro AG (Germany), Royal Dutch Shell Plc (Netherlands), The Dow Chemical Company (US), Mitsui Chemicals (Japan), Wanhua Chemical Group (China), LANXESS AG (Germany), Huntsman Corporation (US), Stepan Company (US), and Repsol SA (Spain).