Polyether Polyols Market Trends, Insights, Overview, Trends and Forecast To 2028
Polyether Polyols Market Overview:
The Polyether Polyols Market was valued at USD 10.74 billion in 2017, and it is expected to grow at a higher CAGR of 6.61% in the global market to account for the higher market value of approximately USD 34.4 billion by the end of the forecasted period from 2021 to 2028 in the global market.
Market Segmentation:
The Global Polyether Polyols Market Trends has been segmented by Type, Application, End-Use Industry and Region.
On the Basis of Type, the global market has been divided into rigid, flexible, and specialty grade. Rigid polyols are manufactured using various starters, which include sorbitol, ethylenediamine, triethylamine, and their mixtures. Rigid polyols are short-chain polyethers used in the production of rigid polyurethane foam. Flexible polyols are widely used to produce flexible polyurethane foam. The specialty-grade polyols are used in various applications including adhesives and sealants, inks, and plasticizers.
By End-Use Industry, the global market has been segregated into automotive, construction, furnishing, packaging, electrical and electronics, and others. The construction segment accounted for the largest market share in 2018 on account of the increasing use of polyurethane foam as it provides enhanced insulating properties. The automotive is expected to be the fastest growing segment on account of increasing use in vehicle interiors to enhance energy efficiency.
Based on Application, the global market has been categorized into polyurethane foam, adhesives and sealants, elastomers, plasticizers, coatings, and others. The polyurethane foam segment accounted for the largest market share in 2018 on account of the increasing demand in major applications including building equipment, refrigerators, appliances, and upholstery.
Regional Analysis:
The Global Polyether Polyols Market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America is expected to be the prominent market for Polyether Polyols owing to the surging demand in the automotive industry. The European market for polyether polyols is expected to witness healthy growth as a result of the rising demand in major end-use industries such as automotive, construction, and furnishing. The surging demand for lightweight and energy-efficient automobiles is expected to positively impact regional market growth. The markets in Latin America and the Middle East & Africa are expected to record considerable growth during the review period due to the expanding end-use industries in the regions.
Asia-Pacific was the largest market in 2018 due to the presence of a large number of industries such as automotive, construction, furnishing, and packaging in developing nations such as India and China. The growing population has increased the residential construction activities, which is expected to boost the demand for the product and growth of the regional market during the review period.
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Competitive Analysis:
Some of the key players operating in the Global Polyether Polyols Market are Solvay (Belgium), BASF SE (Germany), Huntsman Corporation (US), Covestro AG (Germany), DowDuPont (US), Repsol (Spain), Expanded Polymer Systems Pvt. Ltd (India), Cargill, Incorporated (US), Arkema (France), Shell Chemicals (The Netherlands), Krishna Antioxidants Pvt. Ltd (India), and AGC Chemicals Americas (US).
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