Albany, NY -- (SBWIRE) -- 09/28/2012 -- An alcohol which has multiple hydroxyl groups is termed as a polyol. Polyols are different for different applications like polyols for food and polyols for polymer chemistry. Monomeric polyols like glycerin and ethylene glycol acts as the initial point to form polymeric polyols, but they are different from free radical initiators. Polyols are classified under two main categories: polyester polyols and polyether polyols. Polyether is produced by ethylene oxide or propylene oxide.
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One of the major applications of polyols is to form polyurethane by reacting with diisocyanates. Polyurethane has a wide range of application in plastic industries. The growing market of polyurethane is one of the major factors which are driving the polyols market and it is expected to continue in the same manner till 2018. But its impact on the environment and the growing prices of crude oil and natural gas is acting as one of the barriers for the polyols market. But these problems will pose a small threat as there is no bio-based alternative available for polyols.
Huge opportunities lie in Asia Pacific for polyols as the demand for polyurethane is growing at a rapid pace there mainly from emerging economies like China and India.North America and Europe are considered to be mature markets for polyurethanes and polyols so they are expected to grow at a slower rate. But demand from Asia Pacific, Latin America and Eastern Europe are expected to drive the market in the decade to come.
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The polyols market is segmented by types as polyether polyols and polyester polyols. Its application segment apart from producing polyurethane includes CASE (coating, adhesive, sealants and elastomers). Polyols find great application in CASE which is widely used in various modern industries. Some of the major players in the polyols market include: BASF, Bayer Material Science, the Dow Chemical Company, Huntsman Corporation, Shell Chemicals, Stepan Company and many more.
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