At CAGR of 5.30%, Global Polyester Polyol Market To Reach $7.55 Bn by 2021
Deerfield Beach, FL -- (SBWIRE) -- 09/19/2017 -- Zion Market Research has published a new report titled "Polyester Polyol (Aliphatic Polyester Polyols and Aromatic Polyester Polyols) Market for Flexible Foam, Spray Foam, Rigid Foam (Panels & Boardstock), Refrigeration, CASE (Coatings, Adhesives, Sealants, Elastomers) and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021." According to the report, global demand for polyester polyol market was valued at USD 5.56 billion in 2015 and is expected to reach USD 7.55 billion in 2021, growing at a CAGR of 5.30% between 2016 and 2021. In terms of volume, the global polyester polyol market stood at 2,566.7 kilotons in 2015.
The polyol is an alcohol composed of multiple hydroxyl groups. The polyol is mainly classified into polyether polyol and a polyester polyol. Polyether polyols are formed by reaction of ethylene oxide or propylene oxide with the multifunctional initiator in the presence of a catalyst. Polyester polyols are produced by polymerization of diols and dicarboxylic acids. These polyols are widely used in coating, adhesives, sealants, paints and other end-industries.
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Growing rapid demand for polyester polyol in various end applications such as construction, automotive, electronics and others is a major driving factor of global polyester polyol market. Additionally, increasing demand for polyester polyol in adhesives and sealants industry is likely to accelerate the growth of the market in near future. However, raw materials price volatility may limit the demand of polyester polyol over the years. Moreover, bio-based polyester polyols are likely to open new opportunities for polyester polyol market.
Aliphatic polyester polyol dominated the global polyester polyol market in 2015 in terms of demand. It accounted over 60% share of the entire revenue generated in 2015. The aliphatic polyester polyol was followed by aromatic polyester polyol. The aliphatic polyester polyol is expected to have a significant owing to its rising demand in coatings, adhesives and sealants industries.
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Based on application, global polyester polyol market is segmented into flexible foam, spray foam, rigid foam (panels & board stock), refrigeration, CASE (coatings, adhesives, sealants, elastomers) and other applications. Among all applications, flexible foam dominated the polyester polyol market in 2015. It generated over 30% shares of the total revenue of polyester polyol market in 2015. The flexible foam was followed by CASE, which is in turn driven by the growth of plastics, paints, coatings, and adhesives. The rigid foam segment is also an important outlet for polyester polyol market.
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With the largest share, Asia Pacific was a dominating regional market for polyester polyol in 2015. It accounted for more than 30% share of the global polyester polyol market. This trend is predicted to continue in the coming years. In addition, Asia Pacific is foreseen as the fastest growing region for polyester polyol market owing to the emerging economies of China and India. However, North America and Europe are likely to witness moderate growth within the forecast period.
Some of the major players operatives in polyester polyol market include Stepan, Zhang Long Industry Co. Ltd., Myriant, BASF, INVISTA, and the Dow Chemicals among others.
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