- Polyether polyols
- Polyester polyols
Polyols Market was valued at USD 28.1 billion in 2022 and is poised to grow at a CAGR of 5.7% from 2023-2029. Polyols Market is chemicals with several hydroxyl groups that are commonly employed in the polymer industry. The reaction of monomers such glycerine, sucrose, and ethylene glycol with ethylene oxide or propylene oxide produces polyether polyols. The reaction of these monomers with dibasic acid, on the other hand, yields polyester polyol. Polyester polyols have high tensile strength and shock absorption qualities, making them ideal for vibration dampening applications. Polyols are also utilised in the furniture, building, and controlled atmosphere packaging industries for bonding and laminating. The foam industry's remarkable growth over the last ten years has been a crucial element in the market's expansion. It is also utilised extensively in polymer chemistry, where low molecular weight polyols are often used. Low molecular weight polyols are used as a crosslinking agent in polymer chemistry. It is gaining popularity as a result of the advantages it provides in the production of sweeteners. It's well-known for giving sweetness without adding calories to the diet. Erythritol is the most current type of polyol to be permitted for use in foods in the European Union, and it complies with the polyol standards.
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Polyols are used in polyurethane manufacturing activities. The largest application of polyols is polyurethane foam, contributing more than 65% of the total use. The main end-users of polyurethane foams are the automotive and construction industries. For automotive seating, polyurethane flexible foam is used in cushioning. In the spectrum of firmness and types, these foams are provided to accommodate the needs of seating. Asia-Oceania and African regions have seen a 9.3% and 11.5% rises in the production of passenger cars, according to the International Organization of Motor Vehicle Manufacturers (OICA).
The key segments covered in the polyols market are: by type, application, end-user industry and geography
The polyols market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The polyols market key players are: BASF SE, Covestro AG, Royal Dutch Shell Plc, The Dow Chemical Company, Mitsui Chemicals
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16. Key Assumptions and Acronyms