Global Polyols Market Size To Worth $38.5 Billion by 2032 | CAGR of 5.4%.

Category: Chemicals & Materials

RELEASE DATE Sep 2023
REPORT ID SI2701

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Global Polyols Market Size Worth $38.5 Billion by 2032

According to a research report published by Spherical Insights & Consulting, the Global Polyols Market Size to Grow from USD 27.1 Billion in 2022 to USD 38.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period.

Global Polyols Market

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Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Polyols Market Size, Share, and COVID-19 Impact By Product (Polyether, Polyester), By Application (Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."  Get Detailed Report Description Here :https://www.sphericalinsights.com/reports/polyols-market

 

A class of organic substances known as polyols contains molecules of both sugar and alcohol. They are frequently called sugar alcohols. They are extensively used as sugar substitutes in the culinary, pharmaceutical, and chemical industries and have a variety of purposes. Polyols are typically produced from sugars by converting a portion of the carbonyl groups in aldehydes or ketones to hydroxyl (OH) groups. Because of the presence of many alcohol (OH) groups in the sugar molecule created by this reduction process, it is known as "sugar alcohol." Polyols are sweet-tasting compounds, despite frequently tasting less sweet than sucrose (table sugar). They are widely used to impart sweetness without contributing as many calories as sugar in goods with reduced or sugar-free sugar content.

 

COVID 19 Impact

The pandemic caused supply chains to become interrupted due to lockdowns, travel restrictions, and a manpower scarcity. These problems may have affected the transport and production of polyols and the raw materials used to make them. The demand for polyol is closely related to those in the food and beverage, pharmaceutical, and personal care product industries, to name a few. The demand for particular polyols used in food products may have been impacted by changes in consumer behaviour during the pandemic, such as a decline in eating out and an increase in home cooking. The pharmaceutical industry, another significant user of polyols, was affected by the pandemic in a number of ways. There may have been a change in demand for the polyols used in medicinal formulations.

 

In order to make polyurethane foams, which are used in insulation, cars, furniture, and other sectors, polyols are an essential raw material. The development of these industries has a direct impact on the demand for polyols. Sugar alcohols like sorbitol and xylitol are used as sugar substitutes in meals and beverages. As people search for healthy alternatives to sugar, the market for these polyols could Grow. In pharmaceutical formulations, several polyols are used as excipients, solvents, or drug delivery systems. These polyols are becoming more necessary as the pharmaceutical industry Grows. Polyols are used in healthcare and cosmetic products because of their ability to moisturise and emollient properties. As the market for personal care products Grows, polyol requirements could rise.

 

Polyols are typically made using feedstock materials like crude oil or natural gas derivatives. The cost of production and the success of polyol makers can be significantly impacted by changes in the price and availability of these raw materials. Polyols are in competition with substitute materials that are viewed as being more environmentally friendly and sustainable, such as bio-based polyols. The transition to environmentally friendly and sustainable goods may provide challenges for conventional polyol producers. Prices for polyol may change as a result of factors like the cost of raw materials, supply-demand imbalances, and geopolitical events. When prices fluctuate, it can be difficult for producers and consumers to make proper plans and budgets.

 

Product Insights

Polyether polyols segment is dominating the market over the forecast period

On the basis of product, the global polyols market is segmented into polyether and polyester. Among these, the polyether polyols segment is dominating the market with the largest market share over the forecast period. Polyurethane-based products are used in a variety of industries, including construction, automotive, furniture, and electronics. Any Growth in these sectors may result in higher demand for polyether polyols, which are a crucial raw material in the production of polyurethane. Growing environmental concerns have led to an increase in demand for eco-friendly and sustainable products. Polyether polyols, particularly those produced from recycled or bio-based materials, are gaining popularity since they promote environmental goals. The need for polyurethane-based building materials, such as insulation foams, coatings, and adhesives, may rise significantly as a result of urbanisation and infrastructure development, which will also raise the demand for polyether polyols.

 

Application Insights

Flexible foam segment holds the largest market share over the forecast period

Based on the application, the global polyols market is segmented into Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants. Among these, the flexible foam segment holds the largest market share over the forecast period. The success of the construction industry, particularly in residential development, can have an impact on the demand for flexible foam for insulation and padding in homes. The status of the economy, housing starts, and renovation activities are important determinants. In the automotive business, flexible foam is used for seats, headrests, and interior trim. As the auto industry Grows and comfort and interior design trends develop, the demand for flexible foam could shift.

 

Regional Insights

Asia Pacific is dominating the market over the forecast period

Global Polyols Market

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Asia Pacific is dominating the market with the largest market share over the forecast period. The Asia-Pacific region, which includes countries like China and India, has been rapidly industrialising and urbanising. Polyols are thus in higher demand for a range of industries, including the production of consumer goods, autos, and construction. The expansion of infrastructure, commercial real estate, and residential construction projects have all fueled the Growth of the construction sector in the Asia-Pacific area. The market for polyols is Growing because they are used in insulation, coatings, and adhesives. One of the largest and fastest expanding automotive markets worldwide is found in Asia-Pacific. Polyols are used in automotive interiors, such as the seats and interior trim, as well as lightweighting applications. The market for polyols is Growing as a result of the expanding demand for automobiles in the area.

Over the predicted period, Europe's market will Grow the fastest. The market for polyols in Europe is anticipated to Grow as a result of beneficial regulatory support from governments and increased insulation demand among low-income households seeking to efficiently save energy.

 

List of Key Companies

  • Huntsman International LLC
  • Repsol
  • Biesterfeld AG
  • DIC CORPORATION
  • Tosoh Corporation
  • Arkema
  • BASF SE
  • Dow
  • Cargill, Incorporated
  • LANXESS
  • Shell plc
  • Mitsubishi Chemical Corporation
  • Vertellus
  • Wanhua
  • Stepan Company
  • Gulshan Polyols Ltd
  • Perstorp Holding AB (Subsidiary of PETRONAS Chemicals Group)
  • Emery Oleochemicals LLC
  • Covestro AG
  • Coim Group
  • Shakun Industries

 

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Polyols Market based on the below-mentioned segments:

 

Polyols Market, Form Product Analysis

  • Polyester
  • Polyether

 

Polyols Market, Application Analysis

  • Flexible Foam
  • Rigid Foam
  • Coatings
  • Adhesives & Sealants

 

Polyols Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Afric

 

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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