Polyether Polyols Market Size

Global Polyether Polyols Market Overview

Polyether Polyols Market Size was valued at USD 20.15 Billion in 2023. The polyether polyols industry is projected to grow from USD 21.48 Billion in 2024 to USD 33.60 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.75% during the forecast period (2024 - 2032). The increased demand from the chemical sector has led to a large increase in the market for polyether polyols. Additionally, one of the main key market drivers in the polyether polyols market is the expanding demand for rigid and flexible polyurethane foam in various applications.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polyether Polyols Market Trends

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  Growing demand from the construction industry is driving the market growth

  
  

Polyether polyols are used to create polyurethane foam, mostly used in construction. The ability to effectively control temperature is a feature of polyurethane. As a result, it is utilized to insulate walls, doors, panels, and roofs. The need for polyurethane is rising in cold nations (such as Russia, Canada, the United States, Kazakhstan, and Sweden, among others) and hot nations like Mali, the United Arab Emirates, and other African nations. People use a lot of energy to keep the temperature of their homes balanced. According to the US Department of Energy, homes and businesses utilize about 40% of all energy. Rigid polyurethane is now used in construction and architecture, which is good for the environment because it minimizes energy use and carbon emissions. Additionally, there is an increase in construction worldwide. For instance, construction initiatives like Dream City, Housing for All by 2022, and 100 Smart Cities, among others, affect polyether polyol demand in India. The Chinese government also invested millions of dollars in various building initiatives there. All of these factors contribute to the rising demand for polyurethane foams from the construction sectors, which supports the expansion of the polyether polyols market CAGR during the forecast period.

The production of polyurethane involves the usage of polyols. The primary end-use market for polyurethane foam is the automotive sector. Vehicle seat cushions are made of pliable polyurethane foam. These foams can be found in a range of firmnesses and forms to suit the requirements of the seats. The output of light commercial vehicles increased by 10.2% in the APAC area in 2018, according to OICA. China is the largest automobile market in the world, and the Chinese government anticipates that 35 million cars will be produced there by 2025, according to the International Trade Administration (ITA). This will help the polyether polyols business even more. Hence, the increased demand for polyether polyols from the automobile industry is driven by the demand for polyurethane foams. Thus, driving the polyether polyols market revenue.

Ashland, in October 2023, launched the first portfolio of Easy-Wet substrate wetting agents that are considered new-generation silicone-free high-performance oligomeric alkyl polyether polyols for premium industrial coatings. The Easy-Wet portfolio is a more sustainable technology that provides an excellent balance of wetting and low foaming, which results in defect-free coating films. Super Wetting Agent Technology is one of seven platforms recently introduced by Ashland to provide differentiated and sustainable products that serve multiple markets. Different types of super wetting agents manufactured by the company demonstrate high-value performance in different areas of application, such as wood, metal, automotive, general industrial finishes, printing inks, and plastic coatings.

Polyether Polyols Market Segment Insights

Polyether Polyols Type Insights

The polyether polyols market segmentation, based on type includes specialty grade type, flexible type, and rigid type. The rigid type segment dominated the market. The production of rigid polyether polyols involves mixing various starting materials, including triethylamine, ethylene diamine, sorbitol, glycols, pentaerythritol, and sucrose. Under several different brand names, these polyether polyols are sold. Rigid polyurethane foam formulations use these short-chain polyethers.

Figure 1:  Polyether Polyols Market, by Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polyether Polyols Application Insights

The polyether polyols market segmentation, based on application, includes coatings, plasticizers, elastomers, polyurethane foam, adhesives & sealants and others. The polyurethane foam category generated the most income due to the increasing demand for stiff and flexible polyurethane foam in many applications. Polyurethane foam is produced when polyether polyols and di-isocyanates combine. Since rigid polyurethane foam has excellent insulating qualities and guarantees consistent temperature stability, the building and construction sector is the primary driver of the market for this material.

Polyether Polyols End-User Industry Insights

The polyether polyols market segmentation, based on end-user industry, includes packaging industry, automotive industry, furnishing industry, electrical & electronics industry, construction industry and others. The construction industry category generated the most income. The building and construction sectors use polyether polyols more frequently because they have good insulating qualities and uniform temperature stability. A growing desire for energy-efficient construction to reduce carbon emissions is also anticipated to create profitable opportunities throughout the projection period.

Dow Polyurethanes’ European playgrounds will now use certified DIAMONDLOCK™ Play Systems binders since September 2021, when the business launched them into the market. The whole range meets the requirements specified by EN 1177 European safety standard regulations. Therefore, DIAMONDLOCK™ Play Systems binders were required to pass tests determining the critical fall height before they could be certified according to European standard EN 1177 as far as children’s playground safety is concerned. The systems also present anti-yellowing properties and are highly durable, which means they take longer to wear and tear before being fixed and allow for better aesthetics with true color display over time. DIAMONDLOCK™ Play Systems are water permeable, resistant to high temperature and humidity, and designed to extend the lifespan of any gadget while maintaining its original color.

Polyether Polyols Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific polyether polyols market will dominate this market due to increased consumer spending and rising income levels; the region's construction, automotive, and electronic & electrical industries are all expanding. In the construction and automotive industries, polyols are commonly utilized to make building panels, windows, furniture, carpets, car seat foam and doors.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  POLYETHER POLYOLS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe polyether polyols market accounts for the second-largest market share because there is a growing need for lightweight and energy-efficient automobiles in the automotive sector. Additionally, the market expansion in this area is accelerated by an increase in polyurethane foam production capacity to suit the rising demand in the furniture sector. Further, the German polyether polyols market held the largest market share, and the UK polyether polyols market was the fastest growing market in the European region

North America Polyether polyols Market is expected to grow at the fastest CAGR from 2023 to 2032 because more end-user sectors, including the construction industry, are using polyether polyols. The presence of nations like Canada and the US also fuels the market expansion in this region. Moreover, US polyether polyols market held the largest market share, and the Canada polyether polyols market was the fastest growing market in the region.

Polyether Polyols Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the polyether polyols market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, polyether polyols industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the polyether polyols industry to benefit clients and increase the market sector. In recent years, the polyether polyols industry has offered some of the most significant advantages to market. Major players in the polyether polyols market attempting to increase market demand by investing in research and development operations include Krishna Antioxidants Pvt. Ltd. (India), Arkema (France), AGC Chemicals Americas (US), Shell Chemicals (The Netherlands), Expanded Polymer Systems Pvt. Ltd. (India), Repsol (Spain), Cargill, Incorporated (US), Huntsman Corporation (US), DowDuPont (US), Covestro AG (Germany), Solvay (Belgium), and BASF SE (Germany).

Previously known as Royal Dutch Shell Plc, Shell Plc is a fully integrated oil & gas business. The corporation searches for and produces oil and gas from traditional fields and sources such as tight rock, shale, and coal formations. Around the world, it runs petrochemical and refining plants. In addition to lubricants, bitumen, and liquefied petroleum gas, Shell also sells petrochemical products such as raw materials for plastics, paints, and detergents. The business is a significant biofuel generator in Brazil.

A corporation that manufactures chemicals is called Solvay SA. Specialty polymers, necessary chemicals, and chemical materials are among the products that it produces and distributes. Customers from the aerospace and automotive, natural resources and environment, electrical and electronics, agrochemical, culinary, consumer products, building & construction, healthcare, industrial applications, and other industries are served by it. The company employs specialized chemicals created from environmentally safe resources to improve product quality and performance.

LANXESS unveiled a range of MDI polyether prepolymers containing renewable raw materials last month. These are marketed under the brand name Adiprene Green and can be used instead of traditional fossil-based polyether prepolymers, enabling processors to produce components with concomitantly lower CO2 footprints. Photo: LANXESS AG.LANXESS is a specialty chemicals company that has launched a new range of MDI polyether prepolymer products made from renewable/bio-based feedstocks. These products are known as Adiprene Green, replacing existing fossil-based polyethers to make very tough PU (Polyurethane) elastomers.

Key Companies in the polyether polyols market include

• Krishna Antioxidants Pvt. Ltd. (India)


• Arkema (France)


• AGC Chemicals Americas (US)


• Shell Chemicals (The Netherlands)


• Expanded Polymer Systems Pvt. Ltd. (India)


• Repsol (Spain)


• Cargill, Incorporated (US)


• Huntsman Corporation (US)


• DowDuPont (US)


• Covestro AG (Germany)


• Solvay (Belgium)


• BASF SE (Germany)

Polyether Polyols Industry Developments

December 2021: The variety of manufactured goods offered by PCC Group and its production capability has increased. A variety of ethoxylates, polyether polyols, and other ethoxylated products, including biodegradable ones, will be produced by the installation.

February 2021: Repsol has a license arrangement to construct polyol, styrene monomer, and propylene oxide factories in China. Two facilities can produce 125,000 tonnes of polyether polyols annually.

April 2023: Huntsman Corporation announced the acquisition of Foamex Products, a manufacturer of polyether polyols for flexible polyurethane foams. The acquisition is expected to strengthen Huntsman's position in the flexible polyurethane foam

May 2023: Dow announced the launch of its new line of polyether polyols for rigid polyurethane foams. The new polyols are designed to offer improved performance and sustainability.

Polyether Polyols Market Segmentation

Polyether Polyols Type Outlook (USD Billion, 2018-2032)

• Specialty Grade Type


• Flexible Type


• Rigid Type

Polyether Polyols Application Outlook (USD Billion, 2018-2032)

• Coatings


• Plasticizers


• Elastomers


• Polyurethane Foam


• Adhesives & Sealants


• Others

Polyether Polyols End-User Industry Outlook (USD Billion, 2018-2032)

• Packaging Industry


• Automotive Industry


• Furnishing Industry


• Electrical & Electronics Industry


• Construction Industry


• Others

Polyether Polyols Regional Outlook (USD Billion, 2018-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America