Global Polyols Market Increase from $18.0 Billion in 2014 to $29.5 Billion by 2020
DEERFIELD BEACH, FL – August 23, 2017 – Zion Market Research has published a new report titled "Polyols (Polyester and Polyether) Market for Rigid Foam, Flexible Foam, Coating, Adhesives, Sealants and Elastomers Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020". According to the report, the global polyols market was valued at approximately USD 18.0 billion in 2014 and is expected to reach approximately USD 29.5 billion by 2020, growing at a CAGR of slightly above 8.5% between 2015 and 2020.
Polyols can be classified into two types such as polyether polyols and polyester polyols. Polyether polyols can be manufactured by ethoxylation or propoxylation of a polyhydric alcohol in the presence of a catalyst. Polyether polyols are derived through anionic ring opening addition polymerization of ethylene oxide or propylene oxide. Polyurethane foams (PU) such as rigid PU foam, flexible PU foam, semi rigid foam, molded foam, etc. are some of the major application markets for polyols. Coatings, adhesives, sealants, and elastomers (CASE), etc. are some of the other application markets for polyol. Construction, automotive, footwear, electrical & electronics are among the major end user industries of polyol.
Polyester and polyether are the key product types of polyols market. Polyether polyols accounted for the largest share of global polyols market in 2014, in terms of volume. This product segment is expected to maintain its leading position during the forecast period. Polyester polyols are expected to exhibit significant growth rate over the forecast period.
Based on application, the polyols market has been segmented into rigid foam, flexible foam and CASE. Flexible foam (polyurethane) was the largest application segment of the polyols market in 2014. Polyols are extensively used in a number of industries such as textiles and fibers, auto motive industry, construction industry and furniture, carpet cushion, bedding and packaging, due to which the demand of polyols increases continuously. This helps to grow the polyols market.
The polyurethane (rigid foam) is one of the fastest growing segments of polyols market. This is the second-largest application segment of the polyols market. This growth can be attributed to rising demand for elastomers, adhesives, and sealants.
Asia Pacific was a dominant regional market for polyols in 2014. Growth in the region is ascribed to rising demand from developing countries like India. Demand for polyols in the Asia Pacific is estimated to be primarily driven by growth in economies in Asia Pacific. China is the leading consumer of polyols in this region. Europe, Latin America, and Middle East & Africa are also expected to experience significant growth of polyols market in the years to come.
Some of the key players BASF SE, Mitsui Chemicals, Inc., Bayer AG, Chemtura Corporation, COIM S.P.A., Royal Dutch Shell PLC, Cargill Incorporated, Dow Chemicals, Emery Oleochemicals and Invista B.V.
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