The latest report by IMARC Group, titled “Polyols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global polyols market size reached US$ 26.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.

A class of chemical molecules known as polyols, or sugar alcohols, finds applications in the food processing and polymer industries. They are added to food goods in the food and beverage sector to increase their stability and shelf life by holding onto moisture and averting crystallization. They are likewise made up of a cluster of adaptable carbohydrates that taste and feel like table sugar. In low-calorie and sugar-free goods including candies, gum, ice cream, yogurt, and fruit spread, they serve as a sugar substitute. They are used in the polymer industry to produce elastomers, coatings, adhesives, sealants, and polyurethane foams.

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Polyols Market Trends and Drivers:

The growing construction industry is the main driver of the global polyols market. Globally, the number of construction projects is rising as a result of fast urbanization and industrialization. As a result, the market for building products made of polyol, including as exterior panels, housing electronics, and insulation-protecting components, is expanding. Moreover, the car industry is using more and more polyurethane foams, which are derived from polyol, to make ventilated headliners, headrests, armrests, and pleasant seating. The market is expected to rise due to a number of other factors, such as the development of bio-based polyols from renewable resources to lower carbon emissions and the rising demand for processed foods.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Polyether Polyols
• Polyester Polyols

Breakup by Application:

• Flexible Polyurethane Foams
• Rigid Polyurethane Foams
• CASE (Coatings, Adhesives, Sealants & Elastomers)
• Others

Breakup by Industry:

• Carpet Backing
• Packaging
• Furniture
• Automotive
• Building & Construction
• Electronics
• Footwear
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• BASF SE
• Royal Dutch Shell Plc
• Mitsui Chemicals
• Covestro AG
• The Dow Chemical Company
• Wanhua Chemical Group
• Huntsman Corporation
• LANXESS AG
• Stepan Company
• Repsol SA, etc.

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