The global Polyol Market size is expected to reach USD 45.17 billion by 2025 at an 8.5% CAGR during the forecast period, according to a new report by Grand View Research, Inc. There has been a shift in trend from conventional heavy materials such as metals to lightweight, high performance plastics. This has, in turn, driven the use of polyurethane to lower automotive component weight and boost fuel savings. This is likely to have a positive impact on demand for polyols across the globe.
Polyols
are witnessing an increase in demand owing to their growing application scope
in important end-use industries such as automotive, furniture and bedding,
building and construction, pharmaceutical, and packaging. Growth of the
automotive market and rising focus on energy-efficient buildings have emerged
as major factors driving the polyol market.
In PU
adhesive formulation, polyether polyols are the dominant product segment.
Polyether polyols offer excellent flexibility at low temperatures and are
relatively less sensitive to hydrolysis compared to polyester polyols.
Polyether polyols is also utilized to formulate reactive hot melt adhesives.
Polyester polyols are widely used in highly automated and hot melt adhesive
applications that require fast set time or initial green strengths.
Furthermore,
concerning the overall polyol market scenario, principal manufacturers are seen
incorporating bio-based polyols to reduce dependence on conventional
petrochemical derived polyols and reduce risks, such as environmental concerns
and volatile raw material prices, associated with it.
The
global polyols market is concentrated and oligopolistic in nature, with top
manufacturers accounting for over 48.0% of the global market. Pricing and
various other strategic initiatives depend on these top market players.
Related Press
Release@ Polyols Market Report
Polyols Market Report Highlights
- The global
polyol market was valued at USD 23.60 billion in 2017 and is projected to
ascend at a CAGR of 8.5% over the forecast period
- Development
of new products such as bio-based and CO2-based polyols is
creating significant growth potential in the global market
- Key
companies in this market are backward integrated owing to fluctuations in
supply of raw materials. Major polyol producers have in-house raw material
production facilities, which provide them with greater control in terms of
pricing decisions
- Focus on
Green Building Code and German Renewable Energy Act (EEG), coupled with
growing awareness regarding energy conservation, is expected to drive demand
for polyols in the building and construction industry
Polyols
Market Segmentation
Grand
View Research has segmented the global polyols market on the basis of product,
application, and region:
Polyols Product Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
- Polyether
- Polyester
Polyols Application Outlook (Volume, Kilotons; Revenue,
USD Million, 2014 - 2025)
- Rigid Foam
- Flexible
Foam
- Coatings
- Adhesives
& Sealants
- Elastomers
- Others
Polyols Regional Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
- Saudi
Arabia
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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