Global Polyols Market is forecast to reach USD 40.52 Billion by 2028, according to a new report by Reports and Data. Global Polyols can be defined as a type of liquid phase synthesis, which uses multivalent alcohols at high temperatures, at the optimum point of its boiling level. The simplest representative in this organic compound is Ethylene glycol (EG). From EG, it continuous up to polyethylene glycol (PEG). It comprises more than 2000 ethylene groups, having a molecular weight of approximately 100,000 g/mol. The compound is usually used for nanostructured material’s synthesis. It can be classified into polyester Global Polyols and polyether Global Polyols. Polyether Global Polyols are most commonly used. It also finds use for flexible applications, which uses raw materials comprising of limited numbers of hydroxyl groups. Thus, a diverse arena of applications of this compound is supporting the growth of the market. It is mentionable here that the growing availability of compounds and chemicals from biomass is opening new opportunities for the development of bio based Global Polyols that can be incorporated in foam formulation. Biomass derived Global Polyols are gaining increasing popularity because of government regulations and legislations that focuses on reducing carbon footprints. In context to region, North America can be seen to occupy a prominent market share. The market share held by this region is resultant of a well-established automotive industry and expanding packaging transportation sectors.
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The following are the key industry participants:
BASF SE, The Dow Chemical Company, Huntsman International LLC, Covestro AG, Mitsui Chemicals, Inc., Lanxess AG, Tosoh Corporation, COIM, PCC SE, and Emery Oleochemicals.
Further key findings from the report suggest:
The Global Polyols market held a market share of USD 38 Billion in the year 2018 that is forecasted to grow at a rate of 4.80% during the forecast period.
In context to Product Type, the Polyether Global Polyols segment generated a higher revenue of USD 19.02 Billion in 2018, with a CAGR 4.9% during the forecast period. Its traits like high resiliency, excellent resistance to hydrolytic cleavage, dynamic, and mechanical properties along with low cost, results in the extensive use of Polyether Global Polyols in manufacturing rigid polyurethane foams that contributes to the revenue generated by this segment.
In context to Resources, the Renewable resources segment generated is projected to witness a faster growth rate of 6.6% during the forecast period, which is expected to occupy 35.0% of the market in 2028. The growth rate witnessed by the Renewable resources segment is attributed to the formulation of stringent government regulations and legislations that focuses on reducing carbon footprints along with the growing availability of compounds and chemicals from biomass, which are opening new avenues and increasing the popularity of Global Polyols based on renewable resources.
In context to End-user, the Construction segment is projected to witness the fastest CAGR of 6.2% during the forecast period, which is expected to occupy 18.5% of the market by 2028. The growth rate witnessed by the Construction segment is attributed to continuous expansion of the construction sector and associated elevated demand for the compound in this sector in various building components like insulation protective materials, and exterior panels, among others.
In context to Application, the Flexible foam segment held the largest market share of 26.0% in 2018, with a CAGR of 5.4% during the forecast period. Extensive application of this type of foam in various industries like the automotive sector, packaging industry results in wide use of the organic compound in this segment and the market share held by it.
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Increasing consumer inclination towards sustainability and thus considering products based on criteria such as circularity and carbon footprint is expected to change materials and chemical market trends during in the coming years. The growing consumer concern about carbon emissions has prompted industry players to make investment in renewable energy, de-carbonization of transportation, and energy efficiency. These trends are expected to have a significant impact end markets for chemicals, notably in construction and automotive.
Increasing focus of the materials and chemical companies on adoption of de-carbonization technologies, re-examination of their assets, and diversification away from hydrocarbons to some extent will favor global Face Shield market growth during the forecast period.
The report provides an extensive assessment of the prominent companies operating in the materials and chemical industry to offer better insights into competition scenario on a regional and global level.
Rise in competition in the global market has led to increasing innovation and technological advancement in the materials and chemical sector to meet the rising demand of environmentally conscious consumers. Industry players in the Face Shield market are adopting the strategy of forward integration to cater increasing product demand, while adapting to the sustainability trends and to expand their in the global market.
Product Type Outlook
Polyester Global Polyols
Polyether Global Polyols
The following are the leading regions of the global Global Polyols market:
Middle East Africa
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