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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Polyols Market Growth
Polyols are used in polymer chemistry to generate isocyanate reaction polyurethane, primarily used to manufacture polyurethane coatings, adhesives and sealants, and elastomers, among others. They are naturally found in fruits and vegetables, and they can also be produced industrially. Polyols are commonly used as sweeteners and bulking agents in sugar-free and reduced-calorie foods, as they provide fewer calories than regular sugar and have a lower impact on blood glucose levels.
With increasing awareness of the health risks associated with high sugar consumption, such as obesity, diabetes, and heart disease, there is a growing demand for sugar substitutes which boosts the polyols market growth. Polyols are popular sugar alternatives because they provide sweetness with fewer calories and a lower glycemic index. The food and beverage sector is a major consumer of polyols, using them in products like sugar-free candies, chewing gums, baked goods, and beverages and the expansion of this sector, particularly in emerging markets, is driving the demand for polyols. Polyols are also used as excipients in pharmaceuticals and as humectants in personal care products and the growth of these sectors contributes to the market.
Polyols Market Report Snapshots
Polyols Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global polyols market reached a value of USD 30.88 billion in 2023.
The global polyols market is projected to grow at a CAGR of nearly 6% in the forecast period of 2024-2032.
The global polyols market is estimated to reach a value of about USD 52.34 billion by the year 2032.
The major drivers of the global polyols market include rising disposable incomes, increasing population, rising construction industry, and the growing demand from the automobile sector.
The rising production of bio-based polyols is expected to be a key trend guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
The major product types in the market include polyether and polyester polyols.
Polyols find wide applications in flexible polyurethane foam, rigid polyurethane foam, and CASE (coatings, adhesives, sealants, and elastomers), among others.
Based on industry, the market is divided into carpet backing, packaging, furniture, automotive, building and construction, electronics, and footwear, among others.
The major players in the market are BASF SE, Royal Dutch Shell Plc, Covestro AG, The Dow Chemical Company, Wanhua Chemical Group Co., Ltd., Huntsman International LLC, Stepan Company, and Repsol S.A., among others.
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