Global Polyols Market is Expected to Grow at a CAGR of 6% in the Forecast Period of 2024-2032

The global polyols market is being driven by the growing demand for polyols in the automotive and construction sectors. Polyols are essential in the manufacturing of polyurethane foams that are used in many end-user industries like the automotive and building industries. In addition, the demand for polyurethane foam is growing as the automotive and construction markets grow, thus, aiding the polyols market globally.

In September 2016, BASF SE (OTCMKTS: BASFY), one of the key players in the industry, extended its range of bio-based, high-quality polyols marketed under Sovermol. The products are used to manufacture two-component polyurethane coatings with extremely low emissions, for internal and external applications. The new polyol by BASF with Sovermol 830 makes indoor flooring more resistant, for example, in warehouses of industry or sports halls. As the resin is made from renewable raw materials and does not contain any VOCs, it contributes significantly to the development of sustainable coatings with especially high levels of stability as well as durability.

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Market Analysis by Type, Applications, and Regions:

• The types of polyols are divided into polyether polyols and polyester polyols.
• Polyols find applications in flexible polyurethane foam, rigid polyurethane foam, and CASE (coatings, adhesives, sealants, and elastomers).
• The regional markets for polyols include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global polyols market is majorly being driven by the rapid industrialisation.
• The growth of the polyols market is being aided by the growth of the construction and automotive sectors.
• Insulated houses and buildings help conserve energy and, thus, help in reducing the emission of greenhouse gases to an extent, which is driving the market growth.
• The demand for polyols is driven by the growth of various industries, including furniture, electronics, packaging, and footwear.
• The rapidly rising population and the rising demand for housing facilities are driving the demand for polyols, especially in developing countries.
• The thriving demand for polyurethane foams in the automotive sector is also propelling the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global polyols market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of polyols.
• The EMR report also provides an insight into the regional price trends of the global polyols market for the (2018-2023) and (2024-2032) periods.
• It assesses the market based on the SWOT as well as Porter’s Five Forces analysis.

The major key players in the global polyols market include companies like BASF SE, Covestro AG, Royal Dutch Shell PLC, Mitsui Chemicals, Wanhua Chemical Group, Huntsman Corporation, and Stepan Company, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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