Global market for Polymeric Polyols to be driven by growing demand for polyurethane

Global market for Polymeric Polyols is forecast to reach 33.1 billion pounds (lbs.) by 2020, driven by growing demand for polyurethane in the automobile, construction, and furniture industries, as per Global Industry Analyst Global market for polymeric polyols is exhibiting rapid growth, backed by increasing demand for polyurethane across major end-use sectors such as furniture, construction, automotive, and refrigeration, among others. Polyols are important raw materials used in the production of polyurethane, coatings, thermoplastic elastomers, adhesives, sealants, medical devices, and artificial leather. Developing countries supported by huge appetite for plastics represent primary consumers of polymeric polyols. Southeast Asia, Latin America, and Eastern Europe are registering robust growth, due to the adoption of expansionary monetary policies for boosting domestic demand. As stated by the new market research report on Polymeric Polyols, Asia-Pacific represents the largest and the fastest growing market worldwide with a compounded annual growth rate (CAGR) of 9.6% over the analysis period. Growth in the region is led by growing population, rapid industrialization and the ensuing high concentration of construction, automotive, and other industries. Eastern Europe and Latin America are also poised to witness rapid growth in the coming years. Growing emphasis on sustainability is one of the key trends driving growth in the market. Development of a number of innovative and green technologies for polyol production is expected to benefit demand patterns. Of special note is the growing popularity of CO2-based polyol production technology. Against a backdrop where combustion of fossil fuels for manufacturing processes is being replaced by smokeless processes, the concept of using CO2 as raw material for the production of polyols is gaining immense interest. CO2-based polyol technology is relatively inexpensive and makes use of cheaper and renewable raw materials. The resulting high performance polymers produced are cheaper, eco-friendly, and possess low polydispersity indices. A large number of companies are focusing on the production of bio polyols from natural oils, such as castor oil, corn oil, canola oil, palm oil, rapeseed oil, and soybean oil, among others. Of these, soybean and corn are the most widely used. Soy-based polyols are finding increasing use in rigid foam insulation, carpet backing, structural foams, pickup truck bedliners, and flexible foams. These polyols are cheaper to produce and have wide applications. The polyurethanes derived using soy-based polyols are used in binders, urethane foams, coatings, adhesives, and sealants. Stringent environmental regulations are driving investments in the production of polyols by recycling polyethylene terephthalate (PET) and Polyurethane (PU) wastes. Global market for green polyols is forecast to witness strong growth supported by rising consumption in Asia-Pacific and other emerging markets. Polyols demand in these markets is fuelled by increased consumption in major end-user sectors such as consumer durables, transportation, furniture or bedding, carpet, packaging and construction, among others. Major players covered in the report include BASF Group, Bayer AG, Chemtura Corp, Daicel Corporation, The Dow Chemical Company, Huntsman International LLC, Perstorp Holding AB, Shell Chemicals Ltd., SINOPEC Shanghai Gaoqiao Company, and Stepan Co., among others.