Global Polyols Market Report Description:
Global polyols market report gives comprehensive outlook on polyols across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global polyols market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application, end user industry, and geography. This report studies global polyols market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global polyols market report includes human demographics, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions and market unmet needs.
Global Polyols Market:
The market size of polyols is estimated at US$ 28.0 billion in 2019 and is expected to hit US$ 36.8 billion by 2026, with a 5.6% CAGR. Major drivers of the market are increasing demand for flexible polyurethane foam, rising building & construction industry due to growing urbanization & industrialization in developing nations, increasing demand for bio-based polyols, and growing demand of PU-based foams in electronic & electrical industries. However, availability of substitutes, stringent environmental regulations on the manufacturing of polyurethane foams, and volatile prices of raw materials.
Growth of automotive and construction industry:
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).
APAC is projected to be the fastest-growing polyols market:
During the forecast era, APAC is expected to be the most rapidly growing market for polyols. The region ‘s rising building, automotive, and electronic & electrical industries are expected to increase demand for polyols due to increasing consumer spending and increasing revenue levels. Polyols are widely used in the construction and automotive industries for the manufacture of building frames, doors, windows, and foams for car seats, chairs, and carpets.
Key players profile in the market include-
- BASF SE
- Covestro AG
- Royal Dutch Shell Plc
- The Dow Chemical Company
- Mitsui Chemicals
- Wanhua Chemicals Group
- LANXESS AG
- Huntsman Corporation
- Stepan Company
- Repsol SA
- In April 2019, BASF SE collaborated with Azelis Americas, LLC for the distribution of its polyurethane products in the U.S. and Canada.
- In March 2019, Covestro AG collaborated with the US-based biotechnology company, Genomatica, for the R&D of high-performance materials based on renewable polyols.
- In January 2019, Wanhua Chemical Group signed a new agreement with Brenntag Specialties, Inc., part of the Brenntag Group, for the distribution of aromatic isocyanates, polyether polyols, coatings additives, and polyurethane dispersions in the U.S.
Key Findings of the Report:
- Global polyols market expanding at significant CAGR over 2020 to 2026 owing to increasing demand for flexible polyurethane foam, rising building & construction industry due to growing urbanization & industrialization in developing nations.
- Based on region, Asia-Pacific accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of novel testing kits and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- Polyether polyols
- Polyester polyols
- Flexible Polyurethane Foam
- Rigid Polyurethane Foam
End User Industry
- Carpet backing
- Building & Construction
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of Latin America
- GCC Countries
- South Africa
- Rest of MEA