Polyester Polyol Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Polyester Polyol Market is Segmented by Type (Aliphatic Polyester Polyols and Aromatic Polyester Polyols), Application (Flexible Foam, Rigid Foam, CASE (Coatings, Adhesives, Sealants, and Elastomers), and Others), and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts for Polyester Polyol in terms of volume (Kilotons) for all the above segments.

Market Snapshot

polyester polyol market size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: 5 %
 polyester polyol market share

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Market Overview

The Global Polyester Polyol Market is projected to register a CAGR of about 5% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the various end-user industries automotive, transportation, building & construction were significantly affected. However, the situation became stable in 2021 and the market is projected to grow steadily.

  • Over the short term, rising demand for PU foam in various applications, and increasing demand for aromatic polyester polyol are some of the driving factors which are stimulating the market demand.
  • Increasing prices of raw materials are hindering the market's growth.
  • Increasing demand for bio-based raw materials to produce polyester polyol products is likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Polyester polyols are a versatile organic compound that is produced with the condensation reaction of dicarboxylic acids and glycols. Polyester polyol is used for many applications including the production of polyurethane (PU) materials, production of reactive adhesives, sealants, and coating systems. The Polyester Polyol market is segmented by type, application, and geography. By Type, the market is segmented into aliphatic polyester polyols and aromatic polyester polyols. By Application, the market is segmented into flexible foam, rigid foam, CASE (coatings, adhesives, sealants, and elastomers), and others. The report also covers the market size and forecasts for the Polyester Polyol market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons)

Aliphatic Polyester Polyols
Aromatic Polyester Polyols
CASE (Coating, Adhesives, Sealants, Elastomers)
Flexible Foam
Rigid Foam
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Key Market Trends

Flexible Foam Segment Dominates the Market

  • The flexible foam segment dominates the polyester polyol market due to its wide range of applications in cushioning material for furniture, automotive, footwear and textile, purse and luggage, household appliances, and packaging.
  • According to the World Bank, the organized furniture business is anticipated to increase by 20% every year. A considerable portion of this increase is likely to come from Asia's fast-rising consumer markets.
  • India is the world's second-largest textile producer. It is also the fifth-largest exporter of textiles, which includes apparel, home furnishings, and technical products. By 2029, the Indian textiles market is expected to be worth more than USD 209 billion, according to IBEF.
  • Flexible foam is utilized in bumpers, interior "headline" ceiling parts, the automobile body, spoilers, doors, and windows and is employed as the backbone of automotive seating. Further, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), global sales of passenger cars were 56.39 million in 2021, compared to 53.91 million during 2020, which stimulate the market demand.
  • Owing to all these factors, the market for Polyester Polyol is likely to grow globally during the forecast period.
 polyester polyol market growth

Asia Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China and India are among the fastest emerging economies in the world.
  • China is the largest consumer of PU as it is the largest producer of footwear and automobiles globally. China is the world's largest footwear manufacturer and exporter, dominating worldwide. China shipped 7.9 billion pairs of shoes and boots in the first eleven months of 2021.
  • For instance, In Asia-Pacific, China and India are the major producers of vehicles. According to OICA, China has the largest automotive production base in the world, with a total vehicle production of 26.08 million units in 2021, registering an increase of 3% compared to 25.23 million units produced last year.
  • Moreover, in India, in 2021, according to OICA, the automotive production in the country stood at 4.4 million units, registering an increase of 30% compared to 3.38 million units produced in the same period last year. The government's reforms, such as “Aatma Nirbhar Bharat” and “Make in India” programs are likely to boost the automotive industry in the near future.
  • Due to all such factors, the market for Polyester Polyol in the region is expected to have a steady growth during the forecast period.
 polyester polyol market forecast

Competitive Landscape

The Polyester Polyol market is consolidated in nature. Some of the major players in the market include (not in any particular manner) BASF, Arkema, Huntsman Corporation, Stepan Company, Evonik, and others. 

Recent Development

  • In December 2020, Huntsman Corporation, based in Kuan Yin, Taiwan, opened a new Terol aromatic polyester polyols factory with a capacity of 22,000 tonnes.
  • In January 2021, Stepan Company has announced the acquisition of INVISTA's aromatic polyester polyol business and related assets. The transaction includes two manufacturing sites, one in Wilmington, NC (USA) and the other in Vlissingen (Netherlands), as well as intellectual property, customer relationships, inventory, and working capital.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increase Usage for Aromatic Polyester polyol

      2. 4.1.2 Increasing Demand for PU Foam in Various Applications

    2. 4.2 Restraints

      1. 4.2.1 Increasing Price of Raw Material

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Aliphatic Polyester Polyols

      2. 5.1.2 Aromatic Polyester Polyols

    2. 5.2 Application

      1. 5.2.1 CASE (Coating, Adhesives, Sealants, Elastomers)

      2. 5.2.2 Flexible Foam

      3. 5.2.3 Rigid Foam

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) **/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alfa Chemicals

      2. 6.4.2 Arkema

      3. 6.4.3 Arpadis

      4. 6.4.4 BASF

      5. 6.4.5 DIC CORPORATION

      6. 6.4.6 Dow

      7. 6.4.7 Evonik

      8. 6.4.8 Huntsman Corporation

      9. 6.4.9 Oleon NV

      10. 6.4.10 PCC SE

      11. 6.4.11 Purinova Sp. z o.o.

      12. 6.4.12 Stepan Company

      13. 6.4.13 TER HELL & Co. GmbH

      14. 6.4.14 Townsend Chemicals P/L

      15. 6.4.15 TRiiSO LLC

    5. *List Not Exhaustive

    1. 7.1 Increasing Demand for Bio-Based Raw Materials

**Subject to Availability

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Frequently Asked Questions

The Polyester Polyol Market market is studied from 2017 - 2027.

The Polyester Polyol Market is growing at a CAGR of 5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

BASF, Arkema, Huntsman Corporation, Stepan Company, Evonik are the major companies operating in Polyester Polyol Market.

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