The global polyols market was worth USD 26.0 billion in 2020 and is expected to reach USD 49.3 billion by 2028, growing at a CAGR of around 8.2% between 2021 and 2028.
Polyols are organic compounds. It is also known as sugar alcohols. It partly contains sugar while the other is alcohol. They are found naturally in vegetables and fruits; however, it can also be made and added to the final product as a sweetener. These sugar alcohols are slowly digested, are low in calories, and are low glycemic index carbohydrates. They provide softness without increasing the calorie intake of the user.
COVID-19 impact assessment
The global polyol market has seen a slight decline in sales in the near term due to the enforcement of the lockdown introduced by governments to contain the spread of COVID. Restrictions imposed by various nations to contain COVID had halted production, causing disruption throughout the supply chain. However, global markets are slowly opening up to their full potential and experiencing a surge in demand. The market is likely to remain bullish over the coming year. The significant decrease in the size of the global polyols market in 2020 is estimated based on the COVID-19 outbreak and its negative impact on economies and industries around the world. Various scenarios were analyzed on the basis of inputs from various secondary sources and current data available on the situation.
Growth factors @
The global polyols market is expected to experience notable development, mainly due to the demands of the construction industry in emerging countries. The construction industry in developing countries such as China and India is expected to grow at a remarkable rate in the near future, dominating the polyol market. Government policies and programs are also likely to stimulate the development of the construction sector, which will indirectly fuel the polyol market. In addition, the growing demand for insulation products in North America is also likely to dominate the development of the global polyols market in the coming years.
On the other hand, the unpredictability of raw material costs for polyols could hamper the development of the polyols market in the foreseeable future. The launch of green and biobased polymers is likely to present new avenues for dealing with cost volatility for polyol market players in the years to come. Heavy investments on the part of market players are also expected to boost the polyols market.
Scope of the report:
Segment analysis overview
Polyether polyols and polyester polyols are the 2 types of products on the polyol market. Polyether polyols accounted for the largest share in the global polyols market in 2020. This can be attributed to their wide use in the rigid foam industry due to their low molecular weight and tightly interconnected structure. In addition, polyether polyols exhibit abrasion resistance, improved resilience and hydrolytic stability.
Key Market Players and Competitive Landscape
Major players in the global polyols market include BASF SE, Royal Dutch Shell PLC, Dow Chemicals, Bayer AG, Cargill Incorporated, Invista BV, COIM SPA, Mitsui Chemicals, Inc., Lonza Group, Emery Oleochemicals and Chemtura Corporation, among others . .
The global polyols market is segmented as follows:
- Polyester polyol
- Polyether Polyol
- Soft foam
- Rigid foam
- North America
- Great Britain
- The rest of europe
- Asia Pacific
- South Korea
- South East Asia
- Rest of Asia-Pacific