ID: MRFR/CnM/6398-HCR | February 2021 | Region: Global | 140 pages
Polyether Polyols Market Overview:
The Polyether Polyols Market was valued at USD 10.74 billion in 2017, and it is expected to grow at a higher CAGR of 6.61% in the global market to account for the higher market value of approximately USD 34.4 billion by the end of the forecasted period from 2021 to 2028 in the global market.
A compound made with multiple hydroxyl functional groups manufactured by reacting ethylene oxide and propylene oxide called polyether polyols. It can be water, sorbitol, sucrose, and glycerine. This compound is used as an intermediate material in various applications including flexible and rigid polyurethane foam, plasticizers, elastomers, adhesives and sealants, coatings, and many others. This compound also helps in reducing carbon emissions that propel the demand for rigid polyurethane foam.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a large section of society. Most people have lost their livelihood because of this global pandemic. It has affected the growth and dynamics of several industries. Owing to the shortage of vaccines, everyone is concerned about their immunity and follows social distancing. With the increasing social distancing and contactless activities, the demand for the packaged industry has increased many folds. But due to the lockdown situation, most of the manufacturing units were shut down which resulted in a low supply of polyether polyols. The supply chain network was also disrupted which affected the revenues of many manufacturers.
The market is expected to recover from this global pandemic of COVID 19 in the third quarter of the coming year by properly strategizing according to the needs of the market.
The most prominent major key players in the polyether polyols market all across the globe are mentioned below:
Various factors drive the polyether polyols market in the global market. The use of polyether polyols inflexible and rigid foam in numerous applications boosts the market growth all across the globe. Polyurethane foam is made by reacting di-isocyanates with the polyether polyols. And rigid polyurethane foam is used in various building and construction industry which indirectly propels the demand for polyether polyols in the global market. The use of polyether polyols as an intermediate in different applications namely packaging, automobile, flooring, and furnishing boosts the market demand.
A rise in demand for polyether polyols. Owing to its ability to provide superior properties like resilience, comfort, durability, and lightweight it is used in various industries and hence provides various growth opportunities all across the globe. Also, increasing spending of individuals as well as the government for modern architecture and other construction industries provide growth opportunities for polyurethane foam and hence creates opportunities for polyether polyols as well during the forecasted period. Additionally, increasing demand for energy-efficient buildings provides various growth opportunities.
Though the polyether polyols market is growing rapidly in the global market various factors restrict its growth. The presence of stringent regulations related to the environment levied by (REACH) Registration, Evaluation, Authorization and Restriction Chemicals and (EFA) Environment Protection agency restricts the market growth. Moreover, exposure to harmful emissions is very hazardous for humans and could cause lung, throat, nose, eye, and skin irritation hence protective measures have been taken by firms which increases the overall cost that restricts the market demand.
Value Chain Analysis
The demand for polyether polyols is increasing rapidly in the global market owing to various benefits associated with it. Various researches are taking place for obtaining renewable resources. It is eco-friendly and helps in reducing the use of fossil fuels and hence reduces carbon emission. Also, it is used as an intermediate material in various industries like the automotive industry, packaging industry, furniture industry, and many others owing to its superior property that provides comfort, and it is more durable and lightweight.
Global Polyether Polyols Market Share, by End-Use Industry, 2018 (%):
The polyether polyols market has been divided all across the globe based on type, application, end-use industry, and region.
Based on the Type
The market has been divided all across the globe based on the type into specialty grade type, flexible type, and rigid type.
Based on the Application
The market has been divided all across the globe based on the application into coatings, plasticizers, elastomers, adhesives and sealants, polyurethane foam, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into electrical and electronics industry, packaging industry, furnishing industry, construction industry, automotive industry, and many others.
Based on the Region
The market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the Asia-Pacific region as this region is one of the fastest-growing regions. Also, increasing industrialization in countries like India, Thailand, and China boosts market growth. Increasing per capita income is another driving factor for this region.
The second-largest market share in the global market is held by the North American region owing to the increasing use of polyether polyols in the construction industry along with other end-user industries. The presence of countries like Canada and the US also propels the market growth in this region.
The third-largest market share in the global market is held by the European region owing to increasing demand for the automotive industry especially for lightweight and energy-efficient vehicles. Moreover, an increase in polyurethane foam capacities for meeting the increasing demand in the furniture industry accelerates the market growth in this region.
The fourth-largest market share in the global market is held by the Latin American region owing to increasing demand for automotive industries in countries of this region, especially in Mexico and Brazil.
The Middle East and African region also show a considerable amount of growth owing to increasing industrialization during the forecasted period.
These major key players use various strategies to sustain their market position in the polyether polyols market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the polyether polyols all across the globe.
The global polyether polyols market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the polyether polyols market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the polyether polyols market all across the globe is mentioned. The future growth rate during the forecasted period is estimated and mentioned.
Nationalized laboratories, raw material suppliers, potential investors, research and development institutes, traders and distributors of polyether polyols, polyether polyols manufacturers, and many others.