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The global polyols market size reached US$ 25.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2027, exhibiting a growth rate (CAGR) of 6.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
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.
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 2022-2027. Our report has categorized the market based on type, application and industry.
Breakup by Type:
Breakup by Application:
Breakup by Industry:
Breakup by Region:
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.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Type, Application, Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global polyols market was valued at US$ 25.3 Billion in 2021.
We expect the global polyols market to exhibit a CAGR of 6.3% during 2022-2027.
The rising utilization of polyols in the F&B industry as a sugar replacement in sugar-free and low-calorie products, such as candies, chewing gums, ice-creams, etc., is primarily driving the global polyols market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous end-use industries for polyols.
Based on the type, the global polyols market can be segmented into polyether polyols and polyester polyols. Currently, polyether polyols hold the majority of the total market share.
Based on the application, the global polyols market has been divided into flexible polyurethane foams, rigid polyurethane foams, CASE (Coatings, Adhesives, Sealants & Elastomers), and others. Among these, flexible polyurethane foams currently exhibit a clear dominance in the market.
Based on the industry, the global polyols market can be categorized into carpet backing, packaging, furniture, automotive, building & construction, electronics, footwear, and others. Currently, the packaging industry accounts for the largest market share.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global polyols market include BASF SE, Royal Dutch Shell Plc, Mitsui Chemicals, Covestro AG, The Dow Chemical Company, Wanhua Chemical Group, Huntsman Corporation, LANXESS AG, Stepan Company, Repsol SA, etc.
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