Ubiquity of Polyurethane Systems to Sustain Global Opportunities for Polymeric Polyols
Follow us on Twitter; Connect with us on LinkedIn; Follow us on MediumFavorable prospects for polyurethane consumption in automotive, construction, and home furnishing markets, and expanding application base of bio-based polyols are poised to drive the global market for Polymeric Polyols to reach 39.6 billion pounds (lbs) by 2024. Polymeric polyols are alcohols containing multiple hydroxyl groups, and are commonly classified into two types - Polyester polyols and Polyether polyols. The rapid evolution of the polyols industry has been spearheaded by its expansion to newer applications and its success in keeping pace with the changing consumer and end-user demand. One of the key end-use applications of polyols is in the production of polyurethanes that are extensively used in the production of flexible, molded, rigid, and semi-rigid foams. that are extensively used in the production of flexible, molded, rigid, and semi-rigid foams. These polyurethane foams find extensive application in the construction, automotive, and refrigeration, among other industrial sectors.
Polyether polyols represent the largest product category in the polymeric polyols market. However, polyester polyol segment is poised to register significant growth driven by increasing number of applications led by its unique characteristics, including durability, fatigue flexibility and stretchability. The growing emphasis on sustainability has given birth to a number of innovative and green technologies for polyol production. Resultantly, several companies have developed technologies that are capable of developing bio-based polyols from natural oils, such as castor oil, corn oil, canola oil, palm oil, rapeseed oil, and soybean oil, among others. Meanwhile, manufacturers have also been focusing efforts towards the development of green polyols by recycling Poly Ethylene Terephthalate (PET) and Poly Urethane (PU) wastes. Companies are also focused on development of new polyol grades to address the growing demand for sustainable materials and low VoCs in the automotive, furniture and other industrial sectors. Besides the development of CO2-based polyols, companies are also exploring the use of Cardanol for polyol synthesis.
The global market for polymeric polyols is exhibiting rapid growth, backed by increasing demand for polyurethane across major end-use sectors such as construction, automotive, and refrigeration, among others. Polyols are important raw materials used in the production of polyurethane, coatings, thermoplastic elastomers, adhesives, sealants, medical devices, and artificial leather. Developing countries supported by huge appetite for plastics represent primary consumers of polymeric polyols. Southeast Asia, Latin America, and Eastern Europe are registering robust growth, due to the adoption of expansionary monetary policies for boosting domestic demand.
As stated by the new market research report on Polymeric Polyols, Asia-Pacific represents the largest and the fastest growing market worldwide with a compounded annual growth rate (CAGR) of 8.2% over the analysis period. Growth in the region is led by strengthening construction activity, focus on infrastructure improvement projects, and rising automotive and furniture sales amid rising affluence of people in the emerging economies.
Major players in the market include BASF Group, Covestro AG, Daicel Corporation, Lanxess AG, Huntsman International LLC, Perstorp Holding AB, Shell Chemicals Ltd., Stepan Co., and The Dow Chemical Company among others.
The research report titled “Polymeric Polyols: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulations, issues, challenges, mergers and acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), The Middle East, and Latin America (Brazil, and Rest of Latin America). Product segments analyzed include Polyether Polyols and Polyester Polyols.
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