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Polyol is a class of alcohols that contain multiple hydroxyl groups. Polymeric polymers are generally of two types; polyester polyols and polyether polyols. Polyether polyols are made by treating epoxides such as ethylene oxide or propylene oxide with certain multifunctional initiators in presence of catalyst, mostly strong bases like double metal cyanides or potassium hydroxides. They are highly employed in making flexible foams and polyurethanes.
Increasing demand for polyurethane and other flexible foam from multiple applications like bedding, cushioning, car seats, furniture, carpets, car interiors and others shall positively impact the market. Additionally, its increasing use of rigid foam in construction sector is expected to drive the market. low cost, enhanced hydrolytic stability, and easy handling is likely to act as encouraging factor for market growth.
However, polyols contain certain additives that can be hazardous for human health. Also, polyols are very slippery and cause falls and accidents if spilled. This is expected to hinder the market growth.
Key Market Driver -
Increasing demand for rigid and flexible polyurethane.
Key Market Restraint -
Hazardous nature of polyols.
Based on Type, the global polyether polyols market is segmented into synthetic, natural and graft. Based on application, market is segmented into rigid foam, flexible foam, CASE, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Polyether Polyols market consists of global & regional players operating. Some of the key players in the market include BASF SE, SINOPEC, Covestro AG, Huntsman, DowDuPont, Royal Dutch Shell, Solvay, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia pacific is accounted for the largest market 2017 attributed to the high consumption of polyether polyols for polyurethane foam production. North America is expected to show significant growth attributed to the increasing expenditure on interiors and furniture. Europe is expected to show substantial growth attributed to the high demand for polyurethane foam for automotive sector. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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