Polyols are predominantly used in polymer chemistry to manufacture polyurethanes which are largely used to manufacture polyurethane foams. An important end-product of the polyol is the polyurethane foam, the usage of which is growing rapidly in the market. Polyurethane foam is mainly used in flexible foam application, including furniture & bedding and the automobile interiors and footwear. Polyurethane foams are also used extensively for insulation applications in building & construction, automotive, furnishing, electronics, and packaging industry among other.
Recognizing the kind of growth, the market witnesses currently, Market Research Future (MRFR) has published a detailed study report giving out the market forecast for the period 2017 – 2023. In its analysis, MRFR asserts that the global Polyols market is expected to get evaluated colossally at a modest CAGR during the review period of 2017-2023.
The term, Polyols is used in both, food and polymer chemistry sector. In the Food sector Polyols are known as sugar alcohols, carbohydrates that occur naturally in berries, apples, plums, and other foods. Sugar alcohols also are produced commercially from carbohydrates such as sucrose, glucose, and starch and are used in the preparation of low-calorie foods. Polyols are incompletely absorbed and metabolized in the body and contribute fewer calories than sugar. They do raise blood glucose levels after a meal but not as high as table sugar does.
Most polyols are approximately half as sweet as sucrose and hence are used in the preparation of chewing gums, candies, ice cream, baked goods, fruit spreads, fillings and frostings, canned fruits, beverages, yogurt and table-top sweeteners.
Polyols are also used in medicines and pharmaceutical products such as cough syrups and throat lozenges along with toothpastes and mouthwashes. Alongside, adding sweetness, polyols perform a variety of functions such as adding volume and texture to food, preventing the browning that occurs during heating, and retaining the moisture in foods.
With such broadened applications areas, it is needless to say that the polyols market is growing exponentially on the global platform.
Top Players:
- Covestro AG (Germany),
- BASF SE (Germany),
- Stepan Company (US),
- Royal Dutch Shell PLC (Netherlands),
- Mitsui Chemicals, Inc. (Japan),
- DowDuPont, Inc. (US),
- China National Bluestar (Group) Co, Ltd. (China),
- INVISTA B.V. (US),
- Expanded Polymer Systems Pvt. Ltd. (India),
- Vertellus Holdings LLC (UK),
- N Shashikant & Co. (India),
- Coim Group (Italy),
- Polyols & Polymers Pvt.Ltd. (India)
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Industry Segments:
The global polyols market is segmented by product type, application, end-use industry, and region.
On the basis of the product type, the global polyols market is segmented into polyether polyols, polyester polyols, and others. The polyether polyols accounted for the largest share of the global polyols market in 2017 owing to its large-scale consumption in flexible and rigid polyurethane foams and is expected to exhibit a steady demand during the forecast period. However, superior properties imparted by the polyester polyols such as high tensile strength, abrasion & wear resistance, as well as solvent & oil resistance, to the polyurethanes are likely to increase its market demand during the forecast period.
On the basis of the application, the global polyols market is segmented into flexible foams, rigid foams, CASE, and others. The flexible and rigid polyurethane foams are collectively expected to hold the largest market share is owing to their strong applications across various end-use industries during the forecast period.
On the basis of the end-user industry, the global polyols market is segmented into construction, automotive, furnishing, consumer appliances, footwear, and others. The construction industry extensively consumed polyols based polyurethane foams insulations in 2017 and is expected to continue growing during the forecast period owing to its growing adoption in developed countries such as North America and Europe. Moreover, automotive and furnishing industries are also expected to witness a growth in the demand during the forecast period. Growing consumer purchasing power is projected to contribute to industrial growth.
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Geographical Analysis:
The global polyols market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the largest and fastest growing market for polyols during the forecast period, followed by Europe and North America. The Middle East & Africa is expected to witness an increasing demand for polyols during the forecast period. Latin America held the least share of the global polyols market in 2017 and is expected to witness moderate growth during the forecast period.
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