Polyols Market size is set to grow by USD 10.08 billion from 2024-2028, Rising preference for flexible polyurethane foams, Technavio

NEW YORK, May 27, 2024 /PRNewswire/ — The global polyols market size is estimated to grow by USD 10.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.96%  during the forecast period. 

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Market Driver

The global polyols market is witnessing a notable growth trend due to the rising preference for flexible polyurethane foams. These versatile materials are widely used in sectors like furniture and automotive for their cushioning and support properties. Consumer demand for comfort, durability, and customization is driving this trend. In furniture, flexible foams enhance comfort and longevity.

In automotive, they conform to complex shapes and provide superior passenger comfort. Increasing disposable income levels and the focus on innovation are further fueling market growth. Manufacturers are developing advanced foam formulations for enhanced comfort, durability, and sustainability. 

The Polyols market is currently experiencing significant growth, with forms such as Polyols, Polytols, and Polyurethanes in high demand. These materials are used in various sectors including automakers, carpets, and coatings. The use of vegetable-based and biodegradable polyols is a trending development, as is the increasing adoption of recycled and renewable raw materials. The market is also seeing an uptick in the use of elastomers and rigid foams in the construction industry.

Additionally, the demand for high-performance and low-emission polyols is driving innovation in the sector. The use of advanced technologies like catalysts and additives is enabling the production of more efficient and sustainable polyols. Overall, the Polyols market is expected to continue its growth trajectory in the coming years. 

Market Challenges

• The polyols market faces challenges from fluctuating raw material prices. Propylene oxide, ethylene oxide, glycerol, and adipic acid, used in polyol production, are subject to supply and demand changes, geopolitical factors, currency exchange rates, and natural disasters.
• These factors lead to unpredictable price increases, impacting manufacturers’ profitability and competitiveness. Polyols, used in making polyurethane foams, have a price range of USD 1,300 to USD 4,800 per ton. The volatile raw material market is expected to continue posing challenges to the global polyols industry during the forecast period.
• The Polyols market faces several challenges in its growth. Decorative and buliding (sic) applications, such as polyurethane and polyols, require high performance and durability. However, the increasing cost of raw materials, like foams and isocyanates, poses a significant challenge. Additionally, the growing demand for biodegradable and eco-friendly polyols is a complex issue.
• The industry must find ways to produce these materials at a competitive price while maintaining their quality and sustainability. Furthermore, the fluctuating market trends and the need for continuous innovation add to the complexity of the market landscape. The industry must adapt to these challenges to remain competitive and meet the evolving needs of consumers.

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Segment Overview 

1. Type 

• 1.1 Polyether polyols
• 1.2 Polyester polyols

Application 

• 2.1 Flexible polyurethane foams
• 2.2 Rigid polyurethane foams
• 2.3 CAS and E

Geography 

• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Polyether polyols-  The global polyols market is driven by the production of polyurethane foams, which utilize polyether polyols as key raw materials. These polyols are formed through the reaction of organic oxides and active hydrogen compounds, catalyzed by a base. Applications for these foams span across various industries, including furniture, bedding, automotive, construction, and commercial refrigeration. Eco-friendly blowing agents, such as HFC 365mfc and HFC 245fa, are used to create rigid foam variants. Market growth is further fueled by the launch of sustainable polyether polyols derived from bio-circular raw materials.

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Research Analysis

The Polyols Market encompasses a wide range of applications, including the manufacturing of polyurethane foams for various sectors. These foams find extensive use in vehicles, such as passenger cars and commercial vehicles, for the production of seats, bedding, cushions, and carpets. Additionally, polyols are integral to the creation of flexible and rigid foams, which are employed in refrigeration systems, corrugated and plastic boxes, and wooden packaging goods.

The market distinguishes between bio-based and petrochemical-derived polyols. Soy-based bio polyols are gaining popularity due to their eco-friendly nature, as they are derived from plant-based raw materials. The polyols market caters to numerous industries, including food and beverage, organic personal care, and refrigeration, among others. Polyols are essential components of polyurethane systems, which are used to produce a diverse range of products.

Market Research Overview

The Polyols Market encompasses a wide range of polyhydric alcohols, including polyethers and polyesters. These materials are utilized in various industries due to their unique properties, such as low viscosity, high thermal stability, and excellent insulation capabilities. Polyols find extensive applications in the production of polyurethanes and polyisocyanurates, which are essential components in the manufacturing of foam materials for insulation and cushioning.

Additionally, they are used in coatings, adhesives, and elastomers. The global Polyols Market is driven by the increasing demand for energy-efficient insulation materials and the growing usage of polyurethane foam in construction and automotive industries. The market is expected to grow significantly in the coming years due to the rising awareness of the benefits of using polyols in various applications.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Type 
• Polyether Polyols
• Polyester Polyols
• Application 
• Flexible Polyurethane Foams
• Rigid Polyurethane Foams
• CAS And E
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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