Polyol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030

Format: Online | Last Updated: Aug 2021

[Online Quarterly Update] Polyol market grew at a significant rate in the past few years and is projected to grow at a CAGR of 5.34% during the forecast period. A Polyol is an organic compound containing multiple hydroxyl groups. These are naturally viscous liquids or waxy solids depending on hydroxyl content and molecular weight. The organic compound can be categorized into: Polymeric Polyols, Low molecular weight Polyols and Sugar Alcohol. Among these, Polymeric Polyols leads the market due to high demand of derivatives such as Polyether Polyols and Polyester Polyols. High demand of Polyether Polyols can be attributed to its use in the production of Polyurethane. 
Polyols find application in wide range of applications including flexible & rigid foams, surface and fabric coatings, thermoplastic polyurethanes, adhesives & sealants, elastomers, etc. Hence, Polymeric Polyols are an important group of functional resins which are extensively used in construction, automotive, Paint & Coatings, and medical sectors. These also have minor non-urethane applications such as surfactants and oil demulsifiers. Based on applications, its market is further segmented into grades such as a) below 1000 MW that are used for making insulating panels b) 1001-2999 MW are having mixed applications either blended to make rigid foams or to synthesize flexible foams and c) 3000 MW & above are used to make more flexible Polyurethanes further used in mattresses. Polyols with MW 3000 and above are mostly in demand. Due to their versatile properties, they are widely used in various end use such as Bedding/ Mattresses, Industrial Insulations, Footwears, Transportation, Construction, Packaging and Others, which is likely to have a positive impact on the market for Polyols across the globe in the upcoming years.
Imposition of nationwide lockdowns due to Covid-19 pandemic by the major economies to contain the spread of virus has negatively impacted the Polyol industry in the first half of 2020. The demand for Polyol witnessed a decline due to the disruption in Automotive and Construction sector as these sectors are the major end users of the compound. Moreover, the industries were functioning with very low efficacy coupled with the disruption in the supply chain of raw material.  However, in the latter half of 2020, an improvement in the market condition is observed owing to the increasing demand from the various end use industries such as construction, packaging, consequently, driving the global market for Polyols. Volatility in the prices of conventional raw material and the increasing environmental concerns shifts the focus of manufacturers to use bio-based Polyols, to replace petroleum derived Polyols are influencing the demand of the product.
PCC Rokita SA, one of the largest chemical companies in Poland has increased the total annual capacity to 110,000 metric tons of Polyether Polyols and it also establish joint venture with Thai Polyol manufacturers and acquire 50% stakes in IRPC Polyols (Thailand). Similarly in December 2020, Synthesia Technology America announced to invest in a new Polyol production facility in the United States. All these Expansions by the giant Polyol manufacturer are going to boost the global market in the forecast period.
Region wise, Asia-Pacific is expected to dominate the global market during the forecast period due to the rapid industrialization, surging demand from various sectors utilizes Polyurethane in the manufacturing of mattresses, insulation panels for households & industries, medical devices, electrical devices, footwears etc. especially in China and India. Whereas Latin America is emerging as the second fastest-growing market for Polyols after APAC. The demand for Polyurethane foams is a key factor for driving the growth and expansion in the Polyol market because of large consumer base in the region. Europe and North America are also expected to show a promising growth in the forecasted period due to the presence of global manufacturers and various end use industries in the region. 
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast the Polyol capacity, production
   demand, inventory, and demand–supply gap globally.
• To categorize Polyol demand based on Application, End Use, region, and distribution channel
• To identify major customers of Polyol globally.
• To evaluate and forecast Polyol pricing globally.
• To identify and profile major companies operating globally Polyol market.
• To identify major news, deals and expansion plans globally Polyol market.
Key players in the global Polyol industry include BASF Group, Covestro AG, The Dow Chemical Company, DIC Corporation Woodbridge Foam Corporation, Wanhua Chemical Group, Eastman Chemical Corporation, Huntsman, LANXESS AG, Mitsui Chemicals, Repsol SA, Royal Dutch Shell Plc. and RTP Company among others.  
To extract data for Global Polyol market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global market over the coming years. 
ChemAnalyst calculated Polyol demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
Key Target Audience
• Polyol manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Polyol manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:

In this report, the Global Polyol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:



Growth Rate

CAGR of 5.34% from 2021 to 2030

Base year for estimation


Historic Data

2015 – 2019

Forecast period

2022 – 2030

Quantitative units

Demand in tons and CAGR from 2021 to 2030

Report coverage

Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends

Segments covered

1. End Use: (Automotive, Building & Construction, Electronics and Electricals, Appliances, Medical, Packaging and Others.)

2. Grade: (Below 1000 MW, 1001-2999 MW and 3000 MW & above)

3. Distribution Channel (Direct/Institutional Sales, Other Channel Sales)

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina

Key companies profiled

BASF Group, Covestro AG, The Dow Chemical Company, DIC Corporation Woodbridge Foam Corporation, Wanhua Chemical Group, Eastman Chemical Corporation, Huntsman, LANXESS AG, Mitsui Chemicals, Repsol SA, Royal Dutch Shell Plc. and RTP Company among others. 

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Frequently Asked Questions (FAQ):

Which is the leading segment in the Global Polyol Market?

The polyether polyol is the leading segment in the overall polyols market because it is used as raw material in the manufacturing of polyurethane foams which has several applications including utilization in manufacturing furniture, insulating panels, carpets, vehicles’ interior, car seats, and others. The increasing demand for these products due to the high growth of the construction and automotive industries in the developing countries of APAC, South America, and the Middle East & Africa is expected to drive the market for Polyols.  

What are the applications of Polyol?

Polyol applications are Rigid and Flexible Foams, Thermoplastics Polyurethanes (TPU), Coatings, Adhesives and Sealants, Elastomers and Insulating Panels.

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