Global polyols market is expected to reach USD 34.0 billion in 2022, growing at a CAGR of 8.0% between 2017 and 2022.
The report comprises of forecast and analysis for the global polyols market. The study provides historic data from 2014 to 2016 along with a forecast from 2017 to 2022 based volume (kilo tons) and revenue (USD million). The entire report covers the major drivers and restraints for the polyols market along with its impact on the demand during the forecast period. In addition, the report contains the detailed study of opportunities to be had in the polyols market on a global level.
The study offers a vital outlook on the polyols market by designating the market based on products, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2022. Key products covered under this study include polyester and polyether. Major applications covered in the study are flexible foam, rigid foam and other applications. The geographical segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
The major players of global polyols include BASF SE, Royal Dutch Shell PLC, Dow Chemicals, Bayer AG, Cargill Incorporated, Invista B.V., COIM S.P.A., Mitsui Chemicals, Inc., Lonza Group, Emery Oleochemicals and Chemtura Corporation among others.
The report segments the global polyols market as follows:
Global Polyols Market: Product Analysis
Global Polyols Market: Application Analysis
Global Polyols Market: Region Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Polyols market. Zion Research has collected and analyzed key data belong to the global Polyols market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Polyols across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Polyols industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Polyols market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
The polyol is an alcohol containing multiple hydroxyl groups and is used in polymer chemistry industry. The polyol is a key ingredient used in polyurethane formulations, which is largely used in various industrial applications including rigid & flexible foams, coatings, adhesives, sealants, and elastomer. Moreover, increasing use of polyurethanes in the construction industry is expected to drive the polyols market in the forecast period. Moreover, polyols are witnessing increasing demand for insulation purposes from North America. However, volatility of raw material price could pose a challenge to polyols market within the forecast period. Furthermore, rapidly growing demand for bio-based polyols in order to improve carbon footprint and reduce reliability on scarce raw materials is expected to provide lucrative opportunity in the market.
Key product segments include polyesters and polyethers. Polyether is based on polyoxypropylene polyols and is used in manufacturing polyurethane foams. Polyether polyols demand is mainly driven by demand from the polyurethane industry. In addition, increasing demand for polyester polyol in adhesives and sealants industry is likely to accelerate the growth of the market in the near future.
On the basis of application, the polyols market has been segmented into flexible foams, rigid foams, and others (Coating, Adhesives, Sealants, Elastomer, etc). Rigid polyurethane foam demand is expected from insulation applications; growing flexible foam demand in furniture is expected to drive the polyols market. This can mainly be attributed to the high degree of durability and of products, making them ideal for seating and cushioning. The adhesives and sealants market is expected to witness growth on account of high demand from marine and construction industries.
Asia-Pacific was the largest market for Polyols in 2016. China is one of the major consumers of polyols in this region. Rapidly growing population, government regulations to increase construction activities, growth in the automotive industry and increasing demand for textile and furniture are the favorable market forces for the growth of polyols in this region. These factors are attracting the market players for expanding their businesses in Asia-Pacific region. Furthermore, North America and Europe are expected to witness the moderate growth for polyols market during the years to come. Whereas, Latin America and Middle East & Africa is expected to observe significant growth owing to rising construction and redevelopment activities in the region.
The manufacture of polyols from bio-based and natural oil sources is expected to be a major growth opportunity for polyols manufacturers. Polyols manufactured from natural oils such as canola, corn, and soybean is a major opportunity for market players. Some of the major market players of polyols mainly include BASF SE, Royal Dutch Shell PLC, Dow Chemicals, Bayer AG, Cargill Incorporated, Invista B.V., COIM S.P.A., Mitsui Chemicals, Inc., Lonza Group, Emery Oleochemicals and Chemtura Corporation among others.