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Global Polyols Market by Type (Polyether Polyols and Polyester Polyols), Application (Flexible Polyurethane Foam, Rigid Polyurethane Foam, CASE), and Region (APAC, Europe, North America, South America and Middle East & Africa) - Forecast to 2027

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    Report

  • 236 Pages
  • December 2022
  • Region: Global
  • Markets and Markets
  • ID: 4774730

Stringent Environmental Regulations on the Manufacturing of Polyurethane Foams

The Polyol market size is estimated to be USD 36.7 Billion in 2022 and is projected to reach USD 49.3 Billion by 2027, at a CAGR of 6.1%. The polyols are segmented into two types i.e., polyether polyols and polyester polyols. Polyether polyols are majorly used in cushioning for furniture, bedding, and automotive seats as flexible foam. Polyether-based rigid foams are used in packaging, refrigeration, and insulation materials. Owing to the recovery of several end-use industries such as automotive, building and construction, from the COVID-19 pandemic, and the increasing demand for packaging worldwide is projected to increase the demand for polyols in the forecast period. 

By Type, the Polyether polyols segment accounted for the largest share of the global polyol market during the forecast period

Polyether polyols are estimated to have the largest market share during the forecast period. They are more commonly used polyols. The major types of polyether polyols are polyethylene glycol, polypropylene glycol, and polytetramethylene glycol. Polyether polyols are largely used for making cushions and flexible foams used in furniture, mattresses, automobile seats, steering pads etc. Polyester-based rigid foams are used in packaging materials and as insulation materials used for refrigeration. Polyether polyols are also used in elastomers, adhesives & sealants, polyurethane fibers, and coatings.

By Application, Flexible polyurethane foams accounted for the highest market share during the forecast period

The market is segmented by application as flexible polyurethane foams, rigid polyurethane foams and CASE (coatings, adhesives, sealants, and elastomers). The largest application of polyols is flexible polyurethane foam. Flexible polyurethane foam is also one of the fastest-growing applications of polyols between 2022 and 2027. The growth in the furniture and automobile sector is the major reason for an increase in demand for cushioning applications.

By End Use Industry, Building and construction sector accounted for the largest market share during the forecast period

Building and construction sector is estimated to be the largest market for polyol market. The building and construction sector is growing, owing to rising post covid demand, and majorly due to the increase in demand for insulating and sealant materials used in construction. The polyols are used in decorative paints, flooring systems, coatings for exteriors & roof elements, and blinds & doors. The rapidly growing home refurbishment activities are the main drivers of polyurethane rigid foams in this sector.

APAC is projected to account for the biggest market share and highest CAGR in the polyol market during the forecast period  

APAC is estimated to be the fastest growing market for polyol during the forecast period. Polyol markets are estimated to register significant growth in India, China, Indonesia, and Japan, due to their strong demand from end-use industries such as automotive, building and construction, electronics, packaging, and others. The growth of the Asia Pacific polyol market is driven by the economic growth of countries such as China and India. Moreover, the growing demand from major end-use industries in the region further boosts the growth of the polyol market.

The polyol market includes major manufacturers such as The DOW Chemical Company (US), Covestro AG (Germany), Shell chemicals (US), BASF SE (Germany) and Huntsman (US) are the key players operating in the polyol market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies selected by these key players to boost their positions in the polyol market. 

  • By Company Type: Tier 1: 45%, Tier 2: 22%, and Tier 3: 33% 
  • By Designation: C-level Executives: 50%, Directors: 25%, and Others: 25% 
  • By Region: North America: 50%, Europe: 20%, Asia Pacific: 20%, South America: 10%

Research Coverage 
The market study covers the polyol market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on types, applications, end use industries, and regions. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the polyol market.

Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall polyol market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities. 

Frequently Asked Questions about the Global Polyols Market

What is the estimated value of the Global Polyols Market?

The Global Polyols Market was estimated to be valued at $36.7 Billion in 2022.

What is the growth rate of the Global Polyols Market?

The growth rate of the Global Polyols Market is 6.1%, with an estimated value of $49.3 Billion by 2027.

What is the forecasted size of the Global Polyols Market?

The Global Polyols Market is estimated to be worth $49.3 Billion by 2027.

Who are the key companies in the Global Polyols Market?

Key companies in the Global Polyols Market include Arkema, BASF SE, Cargill, Incorporated, Coim Spa, Covestro AG, Dic Corporation, Dow, Emery Oleochemicals, Huntsman Corporation and Jayant Agro.

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Polyols Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Units Considered
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Data Triangulation
2.3.1 Assumptions for the Study

3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Polyols Market
4.2 Polyols Market, by Region
4.3 Polyols Market in Apac, by Country and Application (2018)
4.4 Polyols Market, Developed vs Developing Economies

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growth of Automotive and Construction Industries
5.1.1.2 Growing Demand from Refrigerator and Freezer Manufacturers in APAC
5.1.2 Restraints
5.1.2.1 Stringent Environmental Regulations on the Manufacturing of Polyurethane Foams
5.1.3 Opportunities
5.1.3.1 Increasing Demand for Bio-based Polyols
5.1.4 Challenges
5.1.4.1 Volatile Prices of Raw Materials
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Threat of New Entrants
5.2.3 Threat of Substitutes
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry
5.3 Macroeconomic Overview and Key Trends

6 Polyols Market, by Type
6.1 Introduction
6.2 Polyether Polyols
6.2.1 Flexible Foam Application, Especially in Automotive Industry, Driving the Demand for Polyether Polyols
6.3 Polyester Polyols
6.3.1 Case Applications Fueling the Demand for Polyester Polyols

7 Polyols Market, by Application
7.1 Introduction
7.2 Flexible Polyurethane Foam
7.2.1 Growing Automotive and Furniture Industries Fueling the Market for Polyols in Flexible Polyurethane Foam Application
7.3 Rigid Polyurethane Foam
7.3.1 Growing Refrigeration Industry and Increasing Energy Saving Standards Driving the Market in Rigid Polyurethane Foam Application
7.4 Case (Coatings, Adhesives, Sealants & Elastomers)
7.4.1 Increasing Demand for Elastomers for Manufacturing of Light-Weight Automotive Parts Driving the Market in this Segment

8 Polyols Market, by End Use Industry
8.1 Introduction
8.2 Carpet Backing
8.3 Packaging
8.4 Furniture
8.5 Automotive
8.6 Building & Construction
8.7 Electronics
8.8 Footwear
8.9 Others

9 Polyols Market, by Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 Shifting Manufacturing Bases to the Country is Boosting the Demand for Polyols
9.2.2 Japan
9.2.2.1 Huge Automotive Manufacturing Base in the Country is Driving the Polyols Market
9.2.3 South Korea
9.2.3.1 Electronics and Construction Industries are Creating Demand for Polyols
9.2.4 India
9.2.4.1 Rapidly Growing Manufacturing and Construction Industries are Fueling the Polyols Market
9.2.5 Thailand
9.2.5.1 Growing Automotive and Furniture Industries are Boosting the Demand for Polyols
9.2.6 Indonesia
9.2.6.1 Automotive and Construction Industries are Driving the Polyols Demand
9.2.7 Rest of APAC
9.2.7.1 Electronics and Furniture Industries are Major Consumers of Polyols in Rest of APAC
9.3 Europe
9.3.1 Germany
9.3.1.1 Automotive Industry Creating Huge Demand for Polyols in Flexible Foams and Case Applications
9.3.2 Italy
9.3.2.1 Government Initiatives to Boost the Construction Sector Will Drive the Polyols Market in the Country
9.3.3 UK
9.3.3.1 Governments Initiatives on Construction Sector to Drive the Polyols Market
9.3.4 Russia
9.3.4.1 Construction & Aircraft Manufacturing Industries are Fueling the Demand for Polyols in the Country
9.3.5 France
9.3.5.1 Strong Manufacturing Sectors and High Investments Driving the Demand for Polyols in Country
9.3.6 Turkey
9.3.6.1 Growing Construction Sector Will Drive the Polyols Market in the Country
9.3.7 Rest of Europe
9.3.7.1 Governments Initiatives to Boost the Construction Sector to Drive the Polyols Market in the Region
9.4 North America
9.4.1 US
9.4.1.1 Presence of Major Polyurethane Manufacturing Companies is Driving the Market for Polyols
9.4.2 Canada
9.4.2.1 Growing Housing Construction Activities are Driving the Polyols Demand
9.4.3 Mexico
9.4.3.1 Increasing Investment in Automotive and Housing Construction is Boosting Polyols Market
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Governments Initiatives to Expand Construction Sector Will Drive the Polyols Market
9.5.2 UAE
9.5.2.1 Growing Polyurethane Demand for Flexible Foam and Coating Applications to Drive the Demand for Polyols
9.5.3 Rest of Middle East & Africa
9.5.3.1 Increasing Automobile Production in African Countries is Driving the Polyols Market
9.6 South America
9.6.1 Brazil
9.6.1.1 Growing Automotive Production in the Country Driving the Demand for Polyols
9.6.2 Argentina
9.6.2.1 Expanding Automotive Industry Boosting the Market for Polyols in Argentina
9.6.3 Rest of South America
9.6.3.1 Increasing Investment in Growing Economies Driving the Polyols Demand in Industrial Machinery and Construction Sectors

10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking
10.3 Competitive Scenario
10.3.1 New Product Development
10.3.2 Expansion
10.3.3 Collaboration
10.3.4 Joint Venture
10.3.5 Merger & Acquisition

11 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
11.1 BASF SE
11.2 Covestro AG
11.3 Royal Dutch Shell PLC
11.4 Dow
11.5 Mitsui Chemicals
11.6 Wanhua Chemical Group
11.7 Lanxess AG
11.8 Huntsman Corporation
11.9 Stepan Company
11.10 Repsol SA
11.11 Additional Companies
11.11.1 Cargill, Incorporated
11.11.2 Perstorp Polyols Inc.
11.11.3 Coim Spa
11.11.4 Solvay
11.11.5 Dic Corporation
11.11.6 Tosoh Corporation
11.11.7 Saudi Aramco
11.11.8 Emery Oleochemicals
11.11.9 Sinopec Corporation
11.11.10 Polygreen Chemicals
11.11.11 Arkema
11.11.12 Pcc SE
11.11.13 Manali Petrochemicals Limited
11.11.14 Jayant Agro-Organics Pvt. Ltd.
11.11.15 Polylabs
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and Analyst's View Might Not be Captured in the Case of Unlisted Companies.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: The Subscription Portal

List of Tables
Table 1 World Population, Trend and Forecast, by Country (Millions)
Table 2 Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 3 Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 4 Polyether Polyols Market Size, by Region, 2017-2024 (USD Million)
Table 5 Polyether Polyols Market Size, by Region, 2017-2024 (Kiloton)
Table 6 Polyester Polyols Market Size, by Region, 2017-2024 (USD Million)
Table 7 Polyester Polyols Market Size, by Region, 2017-2024 (USD Million)
Table 8 Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 9 Polyols Market Size in Flexible Polyurethane Foam, by Region, 2017-2024 (USD Million)
Table 10 Polyols Market Size in Rigid Polyurethane Foam, by Region, 2017-2024 (USD Million)
Table 11 Polyols Market Size in Case, by Region, 2017-2024 (USD Million)
Table 12 Polyols Market Size, by En Use Industry, 2017-2024 (USD Million)
Table 13 Polyols Market Size in Carpet Backing Industry, by Region, 2017-2024 (USD Million)
Table 14 Polyols Market Size in Packaging Industry, by Region, 2017-2024 (USD Million)
Table 15 Polyols Market Size in Furniture Industry, by Region, 2017-2024 (USD Million)
Table 16 Polyols Market Size in Automotive Industry, by Region, 2017-2024 (USD Million)
Table 17 Polyols Market Size in Building & Construction Industry, by Region, 2017-2024 (USD Million)
Table 18 Polyols Market Size in Electronics Industry, by Region, 2017-2024 (USD Million)
Table 19 Polyols Market Size in Footwear Industry, by Region, 2017-2024 (USD Million)
Table 20 Polyols Market Size in Others Industry, by Region, 2017-2024 (USD Million)
Table 21 Polyols Market Size, by Region, 2017-2024 (USD Million)
Table 22 Polyols Market Size, by Region, 2017-2024 (Kiloton)
Table 23 Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 24 Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 25 Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 26 APAC: Polyols Market Size, by Country, 2017-2024 (USD Million)
Table 27 APAC: Polyols Market Size, by Country, 2017-2024 (Kiloton)
Table 28 APAC: Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 29 APAC: Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 30 APAC: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 31 China: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 32 Japan: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 33 South Korea: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 34 India: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 35 Thailand: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 36 Indonesia: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 37 Rest of APAC: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 38 Europe: Polyols Market Size, by Country, 2017-2024 (USD Million)
Table 39 Europe: Polyols Market Size, by Country, 2017-2024 (Kiloton)
Table 40 Europe: Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 41 Europe: Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 42 Europe: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 43 Germany: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 44 Italy: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 45 UK: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 46 Russia: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 47 France: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 48 Turkey: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 49 Rest of Europe: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 50 North America: Polyols Market Size, by Country, 2017-2024 (USD Million)
Table 51 North America: Polyols Market Size, by Country, 2017-2024 (Kiloton)
Table 52 North America: Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 53 North America: Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 54 North America: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 55 US: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 56 Canada: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 57 Mexico: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 58 Middle East & Africa: Polyols Market Size, by Country, 2017-2024 (USD Million)
Table 59 Middle East & Africa: Polyols Market Size, by Country, 2017-2024 (Kiloton)
Table 60 Middle East & Africa: Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 61 Middle East & Africa: Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 62 Middle East & Africa: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 63 Saudi Arabia: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 64 UAE: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 65 Rest of Mddle East & Africa: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 66 South America: Polyols Market Size, by Country, 2017-2024 (USD Million)
Table 67 South America: Polyols Market Size, by Country, 2017-2024 (Kiloton)
Table 68 South America: Polyols Market Size, by Type, 2017-2024 (USD Million)
Table 69 South America: Polyols Market Size, by Type, 2017-2024 (Kiloton)
Table 70 South America: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 71 Brazil: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 72 Argentina: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 73 Rest of South America: Polyols Market Size, by Application, 2017-2024 (USD Million)
Table 74 New Product Development, 2015-2019
Table 75 Expansion, 2015-2019
Table 76 Collaboration, 2015-2019
Table 77 Joint Venture, 2015-2019
Table 78 Merger & Acquisition, 2015-2019

List of Figures
Figure 1 Polyols Market: Research Methodology
Figure 2 Market Size Estimation: Top-Down Approach
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Polyols Market: Data Triangulation
Figure 5 Polyether Polyols Dominate Overall Polyols Market in 2018 (USD Million)
Figure 6 Flexible Polyurethane Foam Application to Dominate the Overall Polyols Market Between 2019 and 2024
Figure 7 APAC Expected to be Largest and Fastest-Growing Polyols Market
Figure 8 Growing Construction, Automotive, and Electronics Industries to Drive the Market Between 2019 and 2024
Figure 9 APAC to be the Largest Market Between 2019 and 2024
Figure 10 Flexible Polyurethane Foam Was the Largest Application of Polyols in APAC
Figure 11 Polyols Market to Register High Growth in India and China
Figure 12 Drivers, Restraints, Opportunities, and Challenges in the Polyols Market
Figure 13 Polyols Market: Porter's Five Forces Analysis
Figure 14 Polyether Polyols to Dominate the Overall Market
Figure 15 APAC to be the Largest Market for Polyether Polyols Between 2019 and 2024
Figure 16 APAC to be the Largest Market for Polyester Polyols Between 2019 and 2024
Figure 17 Flexible Polyurethane Foam to be the Dominant Application of Polyols Between 2019 and 2024
Figure 18 APAC to be Fastest-Growing Market for Polyols in Flexible Polyurethane Foam Application Between 2019 and 2024
Figure 19 APAC to be Fastest-Growing Market for Polyols in Rigid Polyurethane Foam Application Between 2019 and 2024
Figure 20 APAC to be Fastest-Growing Market for Polyols in Case(Coatings, Adhesives, Sealants, Elastomers) Application Between 2019 and 2024
Figure 21 APAC Market Snapshot: India to be the Fastest-Growing Market
Figure 22 Europe Market Snapshot: Germany to be the Largest Polyols Market
Figure 23 North America Market Snapshot: US to be the Largest Polyols Market
Figure 24 Middle East & Africa Market Snapshot: Saudi Arabia to be the Largest Polyols Market
Figure 25 South America Market Snapshot: Brazil is the Largest Market
Figure 26 Companies Adopted New Product Development and Expansion as the Key Growth Strategies Between 2015 and 2019
Figure 27 Market Ranking of Key Players in 2018
Figure 28 BASF SE: Company Snapshot
Figure 29 BASF SE: SWOT Analysis
Figure 30 Covestro AG: Company Snapshot
Figure 31 Covestro AG: SWOT Analysis
Figure 32 Royal Dutch Shell PLC: Company Snapshot
Figure 33 Royal Dutch Shell PLC: SWOT Analysis
Figure 34 Dow: Company Snapshot
Figure 35 Dow: SWOT Analysis
Figure 36 Mitsui Chemicals Inc.: Company Snapshot
Figure 37 Mitsui Chemicals Inc.: SWOT Analysis
Figure 38 Wanhua Chemical Group: Company Snapshot
Figure 39 Lanxess AG: Company Snapshot
Figure 40 Huntsman Corporation: Company Snapshot
Figure 41 Stepan Company: Company Snapshot
Figure 42 Repsol SA: Company Snapshot

Executive Summary

Companies Mentioned

  • Arkema
  • BASF SE
  • Cargill, Incorporated
  • Coim Spa
  • Covestro AG
  • Dic Corporation
  • Dow
  • Emery Oleochemicals
  • Huntsman Corporation
  • Jayant Agro-Organics Pvt. Ltd.
  • Lanxess AG
  • Manali Petrochemicals Limited
  • Mitsui Chemicals
  • Pcc SE
  • Perstorp Polyols Inc.
  • Polygreen Chemicals
  • Polylabs
  • Repsol SA
  • Royal Dutch Shell PLC
  • Saudi Aramco
  • Sinopec Corporation
  • Solvay
  • Stepan Company
  • Tosoh Corporation
  • Wanhua Chemical Group

Methodology

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