The report “Polyols Market by Type (Polyether polyols and Polyester polyols), Application (Flexible Polyurethane Foam, Rigid Polyurethane Foam, CASE), End-Use Industry (Building & Construction, Automotive, Electronics), and Region- Global Forecast to 2027″, size is estimated to be USD 36.7 billion in 2022 and is projected to reach USD 49.3 billion in 2027, at a CAGR of 6.1%.
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• 393 Market data Tables
• 52 Figures
• 248 Pages and in-depth TOC on “Polyols Market – Global Forecast to 2027”
Some of the prominent key players are:
· The DOW Chemical Company (US)
· Covestro AG (Germany)
· Shell chemicals (US)
· BASF SE (Germany)
· Huntsman (US)
Opportunities: Increasing demand for bio-based polyols
The demand for products made from renewable polyurethanes made from natural oil polyols, which are used to make polyurethane foams for automotive and other applications is grown significantly in past few years. Bio-based polyols have similar structures and properties and are derived from renewable raw materials such as a soy-based polyols, therefore they act as good alternatives for standard polyols. These bio-based products help in decreasing carbon footprints because the process requires less energy and also emits less methane, CO2, and nitrous oxide into nature. With increasing environmental regulations, these bio-derived materials offer significant advantages over conventional polyols with regard to sustainability and reduction of petroleum dependence therefore these are started using by seating, furniture cushions, and bedding producers.
By Application, Flexible polyurethane foams accounted for the highest market share during the forecast period
The market by application is segmented by application as flexible polyurethane foams, rigid polyurethane foams and CASE (coatings, adhesives, sealants, and elastomers). The largest market is flexible polyurethane foam. Flexible polyurethane foam is also one of the fastest-growing applications of polyols between 2022 and 2027. The growth in furniture and automobile sector is the major reason for increase in demand of cushioning applications.
APAC is estimated to be the fastest growing market for polyol during the forecast period
The largest market for polyols is anticipated to be in APAC over the projected period. Polyol markets are estimated to register significant growth in India, China, Indonesia and Japan, due to their strong demand from end-use industries such as automotive, building and construction, electronics, packaging, and others. The growth of the Asia Pacific polyol market is driven by the economic growth of countries such as China and India. Moreover, the growing demand from major end-use industries in the region which further boosts the growth of the polyol market.
