Polyols Market Regional Analysis

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).

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. '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.'

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.

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.

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.