The global polyols market size is estimated at USD 26.2 billion in 2019 and is projected to reach USD 34.4 billion by 2024, at a CAGR of 5.6%, between 2019 and 2024. Polyol is a type of alcohol containing multiple hydroxyl groups. Polyols are categorized into two types, namely, polyether polyols and polyester polyols based on their chemical compositions. Polyol is a main component of polyurethane formulation. The major applications of polyols includes flexible polyurethane foam, rigid polyurethane foam, and CASE (Coatings, Adhesives, Sealants, Elastomers) applications, which are further used in end-use industries, such as automotive, construction, refrigeration, electronics, and packaging.
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Key Market Players:
BASF SE (Germany), Covestro AG (Germany), Royal Dutch Shell Plc (Netherlands), The Dow Chemical Company (US), Mitsui Chemicals (Japan), Wanhua Chemical Group (China), LANXESS AG (Germany), Huntsman Corporation (US), Stepan Company (US), and Repsol SA (Spain) are the key players operating in the polyols market.
The polyols market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2019, which include collaborations, expansions, joint ventures, and new product developments.
Covestro AG (Germany) is one of the major players of the polyols market. The company operates through three business segments, namely, polyurethanes, polycarbonates, and coatings, adhesives, specialties. It offers polyols through its polyurethanes business segment. The company caters to various end-use industries, such as furniture, automotive, electronics, aviation, construction, and medical technology. It has 30 production sites across Europe, Asia, and North America including China, Thailand, the US, Germany, and Belgium. The company previously operated as a subsidiary of Bayer AG and got separated from it in September 2015.
BASF SE (Germany) is one of the leading players in the polyols market. The company is actively engaged in research & development and expansion activities for its polyols and polyurethane businesses. It operates through five business segments, namely, functional materials & solutions, chemicals, performance products, agricultural solutions, and oil & gas. The company provides polyols products through the monomers sub-division of the chemicals segment. It caters to various end-use industries, such as agriculture, automotive & transportation, constructions, and pharmaceutical. It has a strong geographical presence with six Verbund production sites and an additional 355 production facilities in more than 90 countries, globally.
Critical questions the report answers:
• What are the upcoming hot bets for the polyols market?
• What are the market dynamics for the different types of polyols?
• What are the market dynamics for different applications of polyols?
• Who are the major manufacturers of polyols?
• What are the major factors which will impact the market growth during the forecast period?
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