Growth of the polyester polyols market is majorly driven by increasing demand from end-use industries, such as transportation, construction, furniture, and packaging, more so in regions such as East Asia and Europe, especially China, Germany, and India. Significant properties, such as its viscous nature as compared to polyether polyols, makes it more preferable across industries. Also, it provides significant mechanical properties such as heat resistance, which improves resistance to oils and fats; durability; abrasion; and chemical resistance.
Owing to all these beneficial properties, the demand for polyester polyols is estimated to gain momentum in the coming years. As such, the global polyester polyols market is estimated to expand at a CAGR of more than 5% by value during the forecast period of 2020-2030.
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Key Takeaways – Lime Market in Australia
- Market entry of bio-based and recycled polyester polyols is expected to raise demand among end users in the coming period. Also, the evaluation of automated value chain for the supply of polyester polyols raw materials without any disruption across the world is expected to be a key trend in the global market.
- Based on product type, the aliphatic polyester polyols segment is gaining traction in the market, owing to its superior properties such as abrasion, tear resistance, strong bearing strength, and many others.
- Growth in end-use industries and rising consumer emotion have shifted from purchasing long-lasting durable products to short-life and low-cost products. Also, periodic changes in regular materials such as automotive components, electronics components, furniture, etc., has become an innovative approach of new age demography across the world, which is expected to be a key driver for the polyester polyols market in the foreseeable future.
- East Asia is expected to hold a prominent share in the global polyester polyols market, owing to rapid growth of end-use industries in the region.
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Polyester Polyols Market Landscape
The polyester polyols market is highly competitive, with a great degree of consolidation. Key global players face strong competition from local players across all geographic areas. Increasing focus on product development and adoption of new processes or methods are key strategies being pursued by players in the polyester polyols market. Key players such as BASF SE, The Dow Chemical Company, Stepan Company, Purinova LLC, Saudi Arabian Oil Company, Grupo Synthesia, Emery Oleochemicals, Huntsman Corporation, Myriant Corporation, Helios Group (Kansai Paint), Olean, Lanxess AG, Covestro AG, DIC corporation, INVISTA, and Aekyung Petrochemical Co., Ltd are focusing on marking their direct presence in local markets.
What Does the Future Hold?
Polyester polyols are manufactured by the poly-condensation reaction of carboxylic acid and polyhydroxyl compound. New production technologies, with recycled polyester, are being developed to produce high quality polyester polyols, possessing the same performance features with lower environmental impact and reduced production time with more production yield. This is expected to lead to high adoption of new manufacturing trends in the coming years.
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