Polyether Polyols Market 2021 : Industry Size, Growth Opportunities and Restraint to 2027
Market Segmentation:
The Global Polyether Polyols Market has been
segmented by Type, Application, End-Use Industry and Region.
On the Basis of Type, the global market
has been divided into rigid, flexible, and specialty grade. Rigid polyols are
manufactured using various starters, which include sorbitol, ethylenediamine,
triethylamine, and their mixtures. Rigid polyols are short-chain polyethers
used in the production of rigid polyurethane foam. Flexible polyols are widely
used to produce flexible polyurethane foam. The specialty-grade polyols are
used in various applications including adhesives and sealants, inks, and
plasticizers.
Based on Application, the Polyether Polyols Market has been
categorized into polyurethane foam, adhesives and sealants, elastomers,
plasticizers, coatings, and others. The polyurethane foam segment accounted for
the largest market share in 2018 on account of the increasing demand in major
applications including building equipment, refrigerators, appliances, and
upholstery.
By End-Use Industry, the global market
has been segregated into automotive, construction, furnishing, packaging,
electrical and electronics, and others. The construction segment accounted for
the largest market share in 2018 on account of the increasing use of
polyurethane foam as it provides enhanced insulating properties. The automotive
is expected to be the fastest growing segment on account of increasing use in
vehicle interiors to enhance energy efficiency.
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Competitive Analysis:
Some of the key players operating in the Global
Polyether Polyols Market are Solvay (Belgium), BASF SE (Germany), Huntsman
Corporation (US), Covestro AG (Germany), DowDuPont (US), Repsol (Spain),
Expanded Polymer Systems Pvt. Ltd (India), Cargill, Incorporated (US), Arkema (France),
Shell Chemicals (The Netherlands), Krishna Antioxidants Pvt. Ltd (India), and
AGC Chemicals Americas (US).
Regional Analysis:
The Global Polyether Polyols Market has been
segregated into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa.
Asia-Pacific was the largest market in 2018 due to
the presence of a large number of industries such as automotive, construction,
furnishing, and packaging in developing nations such as India and China. The
growing population has increased the residential construction activities, which
is expected to boost the demand for the product and growth of the regional
market during the review period.
North America is expected to be the prominent market
for Polyether Polyols owing to the surging demand in the automotive industry.
The European market for polyether polyols is expected to witness healthy growth
as a result of the rising demand in major end-use industries such as
automotive, construction, and furnishing. The surging demand for lightweight
and energy-efficient automobiles is expected to positively impact regional
market growth. The markets in Latin America and the Middle East & Africa
are expected to record considerable growth during the review period due to the
expanding end-use industries in the regions.
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