Overview of Global Polyols Market Outlook
In 2020, the market for polyols in the world was worth USD 25.6 billion. By 2026, the global polyols market is anticipated to reach USD 35.7 billion, expanding at a CAGR of 6% from 2023 to 2028.
One of the top regions in the sector is Asia Pacific. Together with rising polymer consumption, the regional market is anticipated to continue to be primarily driven by the expanding automotive industry. Asia Pacific would likewise experience the fastest increase during the forecasted timeframe. Europe, with Germany, the United Kingdom, and France as its top three consumers, is the product's other significant market. It is anticipated that the production of polyol in Europe will increase as a result of the increased demand for energy-efficient insulation in low-income households and favorable government regulatory assistance. The worldwide polyols market is projected to grow as a result of all these factors.
The presence of various automakers and the expanding building and construction sectors in Latin America are anticipated to fuel the industry and accelerate the significant growth of the polyols sector. The auto industry is fiercely competitive in the area, and to keep production costs down, they use polyurethane materials.
Specifications and Uses
In polymer chemistry, polyols are used to produce polyurethane via the isocyanate reaction, which is typically utilized to create polyurethane foam coatings, adhesives, sealants, and elastomers, among other things. The global polyol market is expanding significantly as a result of the rising demand for polyurethane in numerous end-user industries, including the automotive, building, electronics, furniture, and footwear sectors. The polymeric polyols react with the polyurethanes used to make mattresses, insulation for refrigerators and freezers, and seats for cars and other domestic vehicles.
The following categories can be used to group the product types:
Polyols of Polyether
Polyols in polyester
It has numerous uses, including the following:
Flexible Rigid Polyurethane Foam CASE with Polyurethane Foam (Coatings, Adhesives, Sealants & Elastomers)
The market for polyols can be divided into the following sectors:
Furniture Automotive Building and Construction Electronics Carpet Backing Footwear Other
North America, Europe, the Asia-Pacific region, Latin America, the Middle East, and Africa are the regions that make up the worldwide polyols market.