Polyols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Polyols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global polyols market size reached US$ 26.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.

Polyols are a group of organic compounds that consist of multiple hydroxyl groups and are used in a range of industries. They are known as sugar alcohols and consist of a cluster of versatile carbohydrates with reduced calories having similar taste and texture to table sugar. In the food and beverage industry, they are used as a sugar replacement in sugar-free and low-calorie products, such as candies, chewing gums, ice-creams, fruit spreads and yogurts. In consumer products, they are used in the manufacturing of toothpaste, mouthwashes, breath mints and throat lozenges as they aid in preventing tooth decay. In the chemical industry, polyols have applicability in the production of flexible and rigid polyurethane coatings, foams, adhesives, elastomers, and sealants. They improve the product’s stability and shelf life by retaining moisture and preventing crystallization.

Polyols Market Trends:
Rapid industrialization, along with the constant growth of construction and automotive industries, is the key factor driving the growth of the market. There is an increasing demand for polyols and their derivatives from various sectors such as electronics, furniture, packaging and footwear. Furthermore, rapidly burgeoning population and their housing requirements are projected to increase the consumption of building materials made-up of polyols such as insulation protective components, exterior panels and housing electronics. Insulated houses and buildings aid in the conservation of energy and minimizing the emission of greenhouse gasses. Additionally, the increasing demand for polyurethane foams in the automotive industry is also driving the market growth. Flexible polyurethane foams, a polyol derivative, are used to make seatings, headrests, arms rests, heating and ventilating headliners in the vehicles. Other factors such as the development of bio-based polyols are positively driving the growth of the market as well.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global polyols market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, application and industry.

Breakup by Type:

Polyether Polyols
Polyester Polyols

Breakup by Application:

Flexible Polyurethane Foams
Rigid Polyurethane Foams
CASE (Coatings, Adhesives, Sealants & Elastomers)
Others

Breakup by Industry:

Carpet Backing
Packaging
Furniture
Automotive
Building & Construction
Electronics
Footwear
Others

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being BASF SE, Royal Dutch Shell Plc, Mitsui Chemicals, Covestro AG, The Dow Chemical Company, Wanhua Chemical Group, Huntsman Corporation, LANXESS AG, Stepan Company and Repsol SA, etc.

Key Questions Answered in This Report

1. What was the size of the global polyols market in 2022?
2. What is the expected growth rate of the global polyols market during 2023-2028?
3. What are the key factors driving the global polyols market?
4. What has been the impact of COVID-19 on the global polyols market?
5. What is the breakup of the global polyols market based on the type?
6. What is the breakup of the global polyols market based on the application?
7. What is the breakup of the global polyols market based on industry?
8. What are the key regions in the global polyols market?
9. Who are the key players/companies in the global polyols market?