The Global report on “Polyols Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“The growth of the construction, automotive, and refrigerator industries is expected to drive the polyols market.”
The polyols market size is estimated to be USD 26.2 billion in 2019 and is projected to reach USD 34.4 billion by 2024,at a CAGR of 5.6%. The increasing consumption of polyurethane foam in the construction and automotive industries is a major factor driving the global polyols demand during the forecast period. Furthermore, the increasing refrigerator and freezer manufacturing in APAC is another factor driving the polyols market. Polyol-based rigid foam is highly used in the domestic and commercial refrigerators owing to its properties, such as confined structure, light weightedness, and cost-effectiveness. However, the stringent environmental regulatory norms, such as National Emission Standards for Hazardous Air Pollutants(NESHAP), by the United States Environmental Protection Agency, regarding polyurethane foam manufacturing are expected to restrain the market growth during the forecast period.
“Polyether polyols is the fastest-growing type of polyols.”
Polyether polyols is expected to be the fastest-growing type of polyols between 2019 and 2024. Polyether polyols is the widely used and preferred type of polyol for manufacturing polyurethane foams. The demand for polyether polyols is majorly driven by the increasing consumption of polyurethane foams in industries, such as automotive, construction, and furniture. Polyurethane foams are highly used in the automotive industry due to increasing demand for comfortable seating and attractive interiors.
“Flexible polyurethane foam is largest application of polyols.”
On the basis of application, the polyols market is divided into flexible polyurethane foam, rigid polyurethane foam, and CASE applications. Flexible polyurethane foams is expected to be the largest application of polyols during the forecast period. The increasing demand for polyurethane foams in automotive industry is expected to drive the flexible polyurethane foam application. Flexible polyurethane foams is used in automotive industry for a wide range of applications, such as in seating, head rests, arms rests, heating, and ventilating head liners.
“APAC is the largest as well as the fastest-growing market for polyols.”
APAC is projected to be the largest and fastest-growing polyols market during the forecast period, owing to the presence of strong and developing industries, such as construction, automobile, aerospace, furniture, and electronics. The growing polyurethane foam market in the region, owing to factors, such as abundant availability of raw materials at lower costs, high economic growth rate, and lower labor & transportation costs are expected to drive the polyols market. Polyols is used as a major raw material for manufacturing polyurethane foams, which further finds its application in the above-mentioned industries. The increasing demand for polyurethane foams has further motivated a large number of polyols manufacturers to expand their business in this region.
Extensive primary interviews were conducted in the process of determining and verifying sizes of different types and applications of the polyols market gathered through secondary research.
The breakdown of primary interviews is given below:
- By Company Type: Tier 1 –45%, Tier 2 –22%,and Tier 3 –33%
- By Designation: C-Level Executives–50%, Director-Level –25%, and Others –25%
- By Region: North America –50%, Europe –20%, APAC–20%, and South America – 10%,
The key companies profiled in this report on the polyols market include BASF SE (Germany), Covestro AG (Germany), Royal Dutch Shell Plc (Netherlands), The Dow Chemical Company (US), Mitsui Chemicals (Japan), Wanhua Chemicals Group (China), LANXESS AG (Germany), Huntsman Corporation (US), Stepan Company (US), and Repsol SA (Spain).
The polyols market has been segmented based on type, application, and region. This report covers the polyols market and forecasts its market size until 2024. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the polyols market. The report also provides insights into the drivers and restraints in the polyols market along with opportunities and challenges. The report also includes profiles of top manufacturers in the polyols market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the polyols market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to helps take holders understand the pulse of the polyols market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to helps take holders obtain an in-depth understanding of the competitive landscape of the polyols market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product developments, expansions, joint ventures, and mergers& acquisitions.
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