USD 30.88 Billion
Polyols Market Size, Share, Growth Analysis, By Type (Polyether Polyols, Polyester Polyols), By End Use (Building and Construction, Automotive), By Application (Flexible Foam, Rigid Foam), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG35A2974 |
Region:
Global |
Published Date: January, 2025
Pages:
187
|Tables:
84
|Figures:
71
Polyols Market Insights
Global Polyols Market size was valued at USD 30.88 Billion in 2023 and is poised to grow from USD 32.73 Billion in 2024 to USD 52.17 Billion by 2032, growing at a CAGR of 6.0% in the forecast period (2025-2032).
Rising efforts for energy conservation are propelling demand for rigid foams with high insulation properties, particularly in the building and construction industry. This is expected to emerge as a significant factor driving the global market during the forecast period. Growth of the construction sector, primarily in Asia Pacific, to accommodate a rapidly burgeoning population is anticipated to boost product consumption in building components such as exterior panels, insulation protective materials, and housing electronics. Expanding automotive and packaging industries are also contributing toward global polyols market growth.
The increasing demand for rigid and flexible polyurethane in the context of different application areas such as bedding, cushioning, carpets, making of the car seats, and other interiors drive the market. Polyols have application in the automotive industry, owing to features such as low cost, enhanced hydrolytic stability, and increased demand for polyols. Specifically, polyols are required in energy conservation activities for rigid foams with high insulation properties, within the construction market. Moreover, the increasing pace of industrialization has surged the use of polymers and other components in the developing countries.
Additionally, the use of polyols has been seen in various infrastructure development projects which are supported by government initiatives. Polyols are used as a special component within the food and beverage industry as well as a sugar replacement ingredient in different products such as candies, ice creams, fruit spreads, and yogurt.
There is a significant demand for polyols from the consumer products, electronics, footwear, and packaging industry determining a significant contribution to the overall market growth. Furthermore, polyols are widely used in building and construction activities. The rapid increase in the size of the population has surged the infrastructure and housing requirements. This is expected to create a robust growth opportunity for the market.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Polyether Polyols
Fastest Growth
Polyester Polyols
Growth Rate
6.0% CAGR
Global Polyols Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Polyols Market Segmental Analysis
Global polyols market is segmented by type, application, end use and region. Based on product, the market is segmented into polyether, polyester. Based on application, the market is segmented into flexible foam, rigid foam, coatings, adhesives & sealants. Based on end use, the market is segmented into building and construction, automotive and others. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by End Use
The building and construction segment is dominating the polyols market. Polyols are a key component in the production of polyurethane foam, which is widely used in the building and construction sector for insulation, roofing, sealants, and adhesives. The demand for energy-efficient buildings and the need for effective insulation materials drive the consumption of polyols in this sector. Governments around the world are implementing stricter regulations regarding energy efficiency and fire safety in buildings and polyurethane foams made from polyols offer excellent thermal insulation and fire-resistant properties, making them a preferred choice for meeting these regulatory standards.
The automotive segment is expected to experience robust growth in the forecast period. Polyols are crucial for producing polyurethane foams and elastomers used extensively in the automotive sector and these materials are utilized for seating, headrests, armrests, dashboards, interior trim, and insulation, contributing to comfort, safety, and noise reduction. The automotive industry relies on polyols for the manufacturing of car seats. Polyol-based foam materials are used in automotive seating applications as they provide comfort and ergonomic support for drivers and passengers. They provide a comfortable and cushioned seat to the driver and enhance the overall driving experience. They also enable automotive designers to create innovative and stylish interior components that enhance the overall aesthetics and appeal of vehicles. Polyurethane foam manufactured from polyols can be contoured and shaped into various forms and configurations, enabling the manufacturing of custom-designed seats, cushions, armrests, and trim panels.
Analysis by Type
Polyether polyols segment is dominating the market. Polyether polyols are highly versatile and can be used in a wide range of applications, including flexible and rigid foams, adhesives and sealants, and coatings and this versatility makes them attractive for various industrial sectors, such as automotive, construction, and furniture. Polyether polyols also offer excellent performance properties, such as good resilience, high elasticity, and resistance to hydrolysis, which make them suitable for use in high-quality polyurethane products. Polyether polyols are easy to process and can be tailored to meet specific end-use requirements and this ease of processing allows manufacturers to develop customized solutions for their customers.
Polyester polyols are anticipated to gain sizeable growth in the polyols market during the forecast period. Polyester polyols are often preferred in the production of polyurethane foams due to their excellent mechanical properties, superior adhesion, and resistance to hydrolysis, oil, and solvents. These properties make polyester polyols ideal for producing high-quality, durable polyurethane products. As industrial sectors seek materials that offer enhanced performance characteristics, the demand for polyester polyols increases. For instance, in the automotive sector, polyester polyols are used to produce lightweight, durable, and heat-resistant components, contributing to fuel efficiency and safety.
Global Polyols Market By Type (%)
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Polyols Market Regional Insights
The Asia-Pacific region dominates the polyols market, accounted for over 50% of the market share. The growth of the polyols market in this region is attributed to rapid industrialization, economic growth, and increasing demand for polyurethane products. China and India are the major markets in this region, followed by Japan and South Korea. The Asia-Pacific region is expected to dominate the market. In APAC, China has the largest GDP economy. China and India are among the fastest emerging economies in the world. With the rising consumer spending and income level, the automobile, construction, and electrical and electronics industries are growing in the region. As per polyols market outlook, the North America region is expected to grow at a moderate pace due to the increasing demand for energy-efficient and sustainable materials in the construction industry. The United States is the largest market for polyols in North America, followed by Canada and Mexico. In North America, green polyols are mostly utilized in the construction and automobile industries. It is a very strong material with excellent cut and tear resistance, and it will make the flooring water resistant, as the coating repels water and helps prevent water absorption. Foams are most typically utilized in commercial and residential seating applications in automotive green polyols. The growing commercial and residential sectors, the expanding regional construction industry, and the emerging renovation trend among urban and suburban residents in the U.S. are driving growth.
Global Polyols Market By Geography
- Largest
- Fastest
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Polyols Market Dynamics
Drivers
Rising Demand for Bio-based Polyols
- There is a focus on the production of bio-based polyols to reduce the carbon footprint and occurrence of pollution. Bio-based polyols are sourced from plant oils, such as rapeseed oil. They are also manufactured by following a special process where a reduction of all carboxyl groups creates primary and particularly high-quality polyols. They are often manufactured by renewable resource technologies, which helps to eliminate unwanted odors and address the demands of various industries by providing excellent performance and high levels of renewable content.
Increasing Utilization in the Packaging Industry
- The rising demand for sustainable packaging solutions due to the growing environmental concerns and regulatory pressure is impelling the polyols market growth. Polyols are widely utilized for manufacturing polyurethane foams and coatings, which offer flexibility, durability, and moisture resistance. Moreover, polyols-based packaging solutions help extend the shelf life of various perishable goods and provide enhanced protection during storage and transportation. Polyurethane foams and coatings offer effective cushioning and shock absorption properties, protecting fragile items from damage during handling and shipping.
Restraints
Stringent Government Regulations
- Stringent government regulations are a major challenge to market growth. Polyols are used in a variety of applications, including polyurethane foams, coatings, adhesives, and elastomers. The production and use of polyols are associated with environmental and health concerns, prompting governments around the world to introduce regulations to reduce their impact. One of the biggest regulatory challenges facing the market is the Restriction of Hazardous Substances (RoHS) Directive, which restricts the use of certain substances such as lead, mercury, and cadmium in electrical and electronic equipment.
Volatility in Raw Material Prices
- Volatility in raw material prices is a significant impediment to the growth of the polyols market. Polyols, essential chemical compounds used in the production of a wide range of products, including polyurethane foams and coatings, depend on a stable and cost-effective supply of raw materials such as propylene oxide and ethylene oxide. The pricing of these key feedstocks is influenced by various global factors, including fluctuations in energy markets, geopolitical tensions, and supply-demand imbalances.
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Polyols Market Competitive Landscape
The global polyols industry is highly competitive, with a strong presence of global players focused on expanding their product offerings, improving manufacturing technologies and catering to the growing demand in various industries. BASF SE, Dow Inc., Cargill, Inc.; dominate the market, leveraging their extensive R&D capabilities to produce a wide range of polyols such as sorbitol, mannitol and xylitol. These companies have established robust distribution networks in North America, Europe and Asia Pacific, as they are major consumption centers.
Top Player’s Company Profiles
- BASF SE
- Dow Inc.
- Cargill, Inc.
- Archer Daniels Midland Company (ADM)
- DuPont de Nemours, Inc.
- Lanxess AG
- Mitsubishi Chemical Corporation
- Ingredion Incorporated
- Sumitomo Chemical Co., Ltd.
- Celanese Corporation
- Tate & Lyle PLC
- Yunnan Tin Company Limited
- Merck Group
- Tereos SA
- Roquette Frères S.A.
Recent Developments
- In March 2023, BASF began production of its first bio-based polyol, Sovermol®, in Mangalore, India. The product addresses the rapidly expanding need for environmentally friendly materials for use in new high-energy vehicles (NEVs), air conditioning, flooring and industrial.
- In September 2022, Covestro introduced an environmentally friendly polyether polyol based on bio-circular raw materials. Necessary raw materials for PU foam, and isocyanate, can now be obtained with all the new raw materials.
- In December 2021, PCC Group expanded its product range and product range. The installation includes the production of ethoxylates, polyether polyols, and various other ethoxylated materials, including biodegradable materials.
Polyols Key Market Trends
- Rapid Industrialization & Urbanization in Developing Countries: The advancement in the automotive and construction industries combined with the growing demand is considered the major driver of global polyols market growth. For instance, polyurethane foams that are manufactured from polyols are gaining momentum in the automotive and construction industries for cushioning and bedding. The consumption of polyurethane foams surpassed the growth rate of 65% in recent years.
- Rising Demand from Construction Industry: Polyurethane foam is formed with polyether polyols, mainly used in the construction industry. Polyurethane has the property to control the temperature efficiently. Thus, it is used in the insulation of walls, doors, panels, and roofs. Demand for polyurethane is increasing in cold countries (like Russia, Canada, the United States, Kazakhstan, and Sweden, among others) and countries like Mali, United Arab Emirates, and other African countries having very high temperatures.
Polyols Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, there is a growing demand for sugar substitutes which boosts the polyols market growth with increasing awareness of the health risks associated with high sugar consumption, such as obesity, diabetes, and heart disease. Polyols are popular sugar alternatives because they provide sweetness with fewer calories and a lower glycemic index. Furthermore, key manufacturers have been investigating bio-based polyols to reduce dependence on conventional petrochemical-derived polyols given rising environmental concerns and volatility in raw material prices. Asia Pacific dominates the market, driven by the rapid adoption of sustainable polyols. However, North America is emerging as a fast-growing market on account of the rising focus on reducing emissions and odor in polyol production.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 30.88 Billion |
| Market size value in 2032 | USD 52.17 Billion |
| Growth Rate | 6.0% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyols Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyols Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyols Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyols Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyols Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyols Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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