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Global Polyether Polyols Market: Snapshot

In order to bolster their positions in the global polyether polyols market, savvy vendors are funneling money for expanding their production facilities and capacities. This is slated to enable them address the demand of a much larger customer base, effectively. Apart from expansion strategies, companies are also resorting to carefully-considered acquisitions to enhance their positions. In order to grab a larger share the US$10 billion industry, they are eyeing the attractive markets in the emerging economies.

Majorly fuelling the global polyether polyols market is the demand from polyurethane industry, especially for the manufacture of polyurethane foams. Polyurethane foams are being increasing used in the padding of car seats owing to the freedom of geometric design they accord and also because of the way they can be adjusted while manufacturing to achieve the level of comfort targeted for the car seat.

Posing a roadblock to the global polyether polyols market, on the other hand, is the concerns over the health hazards of polyols. However, development of bio-based polyether polyols, which are formulated from natural oils and hence environmentally sustainable, is expected to tackle the problem and open up an avenue for growth.

As per a report by Transparency Market Research, the global polyether polyols market will likely expand at a 6.5% CAGR from 2017 to 2025 to become worth US$17.87 bn by 2025 from US$10.22 bn in 2016.

polyether polyols market

Burgeoning Automotive Industry to Catalyze Maximum Growth in Rigid Foam Segment

The global polyether polyols market can be segmented depending upon the type of application into flexible foams, rigid foams, CASE, etc. Of these, the flexible foam application segment holds a substantial share in the market on account of the robust demand from the furniture and bedding sector. In the years ahead, however, the rigid foam segment is predicted to expand at a higher clip than others buoyed by the proliferating automotive industry.

Construction and Automotive Sectors Majorly Fuelling Asia Pacific Market

From a geographical standpoint, Asia Pacific is a key market as it drives most of the demand in the global polyether polyols market. In the years ahead too, the demand will hold up in the Asia Pacific market owing to solid demand for polyurethane foams in end use industries such as furniture and bedding, construction, and automotive in the region. The growing demand for polyether polyols in various applications such as insulations, cosmetics, lubrications and coatings are also predicted to drive the polyether polyols market in Asia Pacific in the next couple of years. The market in Asia Pacific is expected to grow at a CAGR of 7.4% from 2017 to 2025 to account for a share of 49.6% in the market.

The market in Europe and North America, on the other hand, are expected to register tepid growth rate as they are highly mature and saturated. Unavailability of raw materials is also posing a challenge to the markets. North America will rise at a CAGR of 5.6%, while Europe will register a CAGR of 5.0% in the forecast period. The Middle East and Africa is another attractive market for polyether polyols, which is anticipated to clock a CAGR of 6.6% from 2017 to 2025. The demand for polyurethane foams in the region is expected to propel the market in the near future.

Some of the key vendors in the global polyether polyols market are Huntsman Corporation, The Dow Chemical Company , Covestro AG ., Royal Dutch Shell Plc, China Petroleum & Chemical Corporation., BASF SE, and Solvay S.A.

Polyether Polyols Market to Make Strides on Back of Advances in Polyurethane Foams Chemistry

Polyether Polyols (PEP) are a type of polyols popularly used in manufacturing polyurethane (PU) foams formed using organic oxide and glycol. Thus, the panoply of applications of polyurethane foams is a key dynamic in the polyether polyols market. A large variety of rigid as well flexible use of PU drives the sales in the market. For rigid and semi-rigid applications of PU, sorbitol-based PEPs have been used. Some of the key end-use applications of polyether polyols are packaging, appliances, transport, and industrial insulation applications. Advances in manufacturing processes have helped fabricators vary the properties to suit the specific applications in these industries, such as by varying the functional groups of the starting polyols. Growing worldwide interest in the production of environmentally sustainable PU foams materials using these is a key trend that has expanded the arena of investments in recent decades. A key focus on using reclaimed raw materials in manufacturing polyether polyols. Advances being made in the chemistries on PU foams increasingly focus on such aspects. These advances not just functionality of the foams where they are used, but are also lower the carbon footprint. The growing investments on polymer chemistry on advancing green energy applications in various sectors is another promising trend for generating new revenue streams for stakeholders.

The COVID-19 pandemic after it struck the world in 2019 has evolved to more than just being medical and humanitarian crisis. The pandemic has inflicted unprecedented adverse ramifications on economic growth of nations across the world. The turbulence, riding on the wave of growing COVID-19 caseloads, forced governments to shut down a large part of the economy in 2020, leading to large losses never imagined before. The pandemic since then has affected the health of chemical manufacturing sector of the developing and developed world. The decline in demand from business clients and shutting down of production plants were key factors impeding the developmental course of the polyether polyols market. Nevertheless, demand for new chemistries in PEP has arisen in recent months in several parts of the world.

Global Polyether Polyols Market: Overview

A polyether polyols is the polymeric reaction product of an organic oxide and an initiator compound, containing two or more active hydrogen atoms. Polyether polyols are made by reacting epoxides such as ethylene oxide or propylene oxide with the multifunctional initiator in the presence of a catalyst. Polyether polyols is a colorless or buff mucilaginous liquid, which is commonly employed to make foams. Polyether polyols are manufactured primarily from natural or synthetic bases. 

The report provides in-depth analysis and forecast of the polyether polyols market on the global as well as regional level. The report includes forecast for the period from 2017 to 2025 in terms of volume (kilo tons) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the global polyether polyols market. Secondary sources typically include company websites, relevant magazines, government documents, and press releases. The top-down approach has been adopted to derive the regional numbers from global revenue and volume figures.

Furthermore, the bottom-up approach has been employed to derive data for various type and application sectors based on demand for polyether polyols in each geographical segment. A combination of top-down and bottom-up approaches helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.

Global Polyether Polyols Market: Drivers and Restraints

Detailed analysis of various factors driving the global polyether polyols market has been included for astute decision making. Impact of these drivers during the forecast period has been included with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the next eight years. Opportunities entail untapped or recently explored factors that are anticipated to drive the polyether polyols market during the forecast period.

Global Polyether Polyols Market: Segmentation

Based on type, the polyether polyols market has been segmented into natural, synthetic and graft. Based on application, the polyether polyols market has been segmented into rigid foam, flexible foam, CASE and others. Based on end use, the polyether polyols market has been segmented into automotive, construction, furniture & bedding, refrigeration, industrial and others. The report comprises detailed analysis of all the segments in the regional and global markets and forecast based on current and future trends in the industry in terms of volume (kilo tons) and revenue (US$ Mn). In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for Polyether Polyols in each technology type has been analyzed and forecast for a period of eight years.

Global Polyether Polyols Market: Competitive Analysis

The report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the polyether polyols industry, from raw material suppliers to end-users. Various processes employed in the manufacture of Polyether Polyols have been included in the value chain analysis. Porter’s Five Forces model has been included to determine the degree of competition in the market during the forecast period. Furthermore, market attractiveness analysis has been conducted to analyze application segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each application segment.

The report also comprises profiles of leading companies in the polyether polyols market. These include The Dow Chemical Company , Covestro AG ., Royal Dutch Shell Plc, China Petroleum & Chemical Corporation ., Solvay S.A. , Huntsman Corporation, and BASF SE. Various attributes of these companies such as company overview, business strategies, and recent developments form the core of the company profiles section.

This report segments the global polyether polyols market as follows:

by Type

  • Synthetic
  • Natural
  • Graft

by Application

  • Rigid Foam
  • Flexible Foam
  • CASE
  • Others

by End-use

  • Automotive
  • Construction
  • Furniture & Bedding
  • Refrigeration
  • Industrial
  • Others

by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • U.K.
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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Polyether Polyols Market

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