New York, Feb. 10, 2020 (GLOBE NEWSWIRE) -- The global polyols market is forecast to reach USD 38.96 Billion by 2027, according to a new report by Reports and Data. Polyols can be defined as a type of liquid phase synthesis, which uses multivalent alcohols at high temperatures, at the optimum point of its boiling level. The simplest representative in this organic compound is Ethylene glycol (EG). From EG, it continuous up to polyethylene glycol (PEG). It comprises more than 2000 ethylene groups, having a molecular weight of approximately 100,000 g/mol. The compound is usually used for nanostructured material’s synthesis. It can be classified into polyester polyols and polyether polyols. Polyether polyols are most commonly used. It also finds use for flexible applications, which uses raw materials comprising of limited numbers of hydroxyl groups.
Thus, a diverse arena of applications of this compound is supporting the growth of the market. It is mentionable here that the growing availability of compounds and chemicals from biomass is opening new opportunities for the development of bio based polyols that can be incorporated in foam formulation. Biomass derived polyols are gaining increasing popularity because of government regulations and legislations that focuses on reducing carbon footprints. In context to region, North America can be seen to occupy a prominent market share. The market share held by this region is resultant of a well-established automotive industry and expanding packaging & transportation sectors.
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Further key findings from the report suggest
- The Polyols market held a market share of USD 38 Billion in the year 2018 that is forecasted to grow at a rate of 5.2% during the forecast period.
- In context to Product Type, the Polyether Polyols segment generated a higher revenue of USD 19.02 Billion in 2018, with a CAGR 4.9% during the forecast period. Its traits like high resiliency, excellent resistance to hydrolytic cleavage, dynamic, and mechanical properties along with low cost, results in the extensive use of Polyether Polyols in manufacturing rigid polyurethane foams that contributes to the revenue generated by this segment.
- In context to Resources, the Renewable resources segment generated is projected to witness a faster growth rate of 6.6% during the forecast period, which is expected to occupy 35.0% of the market in 2027. The growth rate witnessed by the Renewable resources segment is attributed to the formulation of stringent government regulations and legislations that focuses on reducing carbon footprints along with the growing availability of compounds and chemicals from biomass, which are opening new avenues and increasing the popularity of polyols based on renewable resources.
- In context to End-user, the Construction segment is projected to witness the fastest CAGR of 6.2% during the forecast period, which is expected to occupy 18.5% of the market by 2027. The growth rate witnessed by the Construction segment is attributed to continuous expansion of the construction sector and associated elevated demand for the compound in this sector in various building components like insulation protective materials, and exterior panels, among others.
- In context to Application, the Flexible foam segment held the largest market share of 26.0% in 2018, with a CAGR of 5.4% during the forecast period. Extensive application of this type of foam in various industries like the automotive sector, packaging industry results in wide use of the organic compound in this segment and the market share held by it.
- In regards to the region, Europe held 0% of the market in 2018, with a growth rate of 5.1% during the forecast period. Factors like continuous growth in the automotive industry, expanding construction, and logistics sector contributes to the market share occupied by this region.
- Key participants include BASF SE, The Dow Chemical Company, Huntsman International LLC, Covestro AG, Mitsui Chemicals, Inc., Lanxess AG, Tosoh Corporation, COIM, PCC SE, and Emery Oleochemicals.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global Polyols market according to Product Type, Resources, End-user, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Polyester Polyols
- Polyether Polyols
Resources Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Non-renewable resources
- Renewable resources
End-User Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Packaging
- Automotive
- Construction
- Transportation
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Flexible foam
- Rigid foam
- Adhesive & sealants
- Coatings
- Elastomers
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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