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

The Polyether Polyol Market is Segmented by Type (Flexible, Rigid, and Other Types), End-user Industry (Furniture and Bedding, Construction, Automotive, Electrical and Electronics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for polyether polyol in volume (kilo tons) for all the above segments.

Market Snapshot

Polyether Polyol Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: >5 %

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Market Overview

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

The outbreak of the novel coronavirus has impacted most of the chemical industries worldwide, including the polyether polyol industry. During the pandemic, many industries were affected due to supply chain disruption and lockdown. This led to the shortage of raw materials used in a manufacturing polyether polyol. Also, many end-user industries, including furniture and bedding, construction, automotive, electrical and electronics, and many others, shut down due to pandemics. That restricted the growth of the market. However, in 2022, the situation is coming on track, and now the market is stable and growing steadily.

  • Over the short term, rising demand for rigid and flexible polyurethane foam in various applications positively impacts market growth. Furthermore, the rising demand from construction activities and growth in the automotive industry are some driving factors stimulating the market demand.
  • Stringent government regulations on polyurethane foam manufacturing and volatile raw materials prices hinder the market's growth.
  • Increasing worldwide interest in producing environmentally sustainable polyurethane foams materials using polyether polyols will likely create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.

Scope of the Report

Polyether polyol is a chemical structural component used in the production of polyurethanes. These are made by reacting organic oxides and glycols. This can be divided into rigid foam polyether, soft foam polyether, and elastomer with polyether according to the performance of polyether products. The polyether polyol market is segmented by type, end-user industry, and geography. By type, the market is segmented into flexible, rigid, and other types. By end-user industry, the market is segmented into furniture and bedding, construction, automotive, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for the polyether polyol market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo tons).

Type
Flexible
Rigid
Other Types
End-user Industry
Furniture and Bedding
Construction
Automotive
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
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

Rising Demand from Construction Industry

  • Polyurethane foam is formed with polyether polyols, mainly used in the construction industry. Polyurethane has the property to control the temperature efficiently. Thus it is used in the insulation of the walls, doors, panels, and roofs.
  • Demand for polyurethane is increasing in cold countries (like Russia, Canada, the United States, Kazakhstan, and Sweden, among others) and countries like Mali, United Arab Emirates, and other African countries having very high temperatures. People consumed lots of energy to balance the temperature of their houses.
  • As per the United States Department of energy, ~40% of energy is used by commercial and residential buildings. Nowadays, constructors and architectures are using rigid polyurethane in buildings, which leads to less energy consumption and reduces carbon emissions, which is good for the environment.
  • Furthermore, the rate of construction is increasing all around the globe. For instance, construction projects in India like dream city, housing for all by 2022, and 100 smart cities, among others, influence polyether polyol demand.
  • China’s government also invested millions of dollars in various construction projects in the country.
  • Owing to all these factors, the growing demand for polyurethane foams from the construction industries helps in the growth of the polyether polyols market during the forecast period.
Polyether Polyol Market Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market. In APAC, China has the largest GDP economy. China and India are among the fastest emerging economies in the world. With the rising consumer spending and income level, the automobile, construction, and electrical and electronics industries are growing in the region.
  • Flexible polyurethane foam is used in vehicle seat cushions, and people are more attracted to these forms as they are available in the many shapes and firmness that meet the need of the seat according to the type of vehicle.
  • According to the National Bureau of Statistics of China, the construction output value in China accounted for CNY 29.31 trillion in 2021, compared to CNY 26.39 trillion in 2020.
  • China, India, and Japan are major commercial vehicle and car producers. According to the OICA, ~26.082 million vehicles were produced in China in 2021, which is ~3% more than in 2020.
  • By 2025, the Chinese players and government estimate that automobile production will reach ~33-38 million.
  • Thus, growth in the end-user industries will support the polyether polyols market in the Asia-Pacific region and help the players to generate more revenue.
Polyether Polyol Market Forecast

Competitive Landscape

The polyether polyol market is partially consolidated in nature. Some of the major players in the market include BASF SE, Shell plc, Covestro AG, Dow, and Solvay, among others (not in any particular order).

Recent Development

  • In December 2021, PCC Group has expanded its production capacity and the range of manufactured products. The installation is to produce a range of ethoxylates, polyether polyols, and other ethoxylated products, including biodegradable products.
  • In February 2021, Repsol licenses agreement to build in propylene oxide (PO), styrene monomer (SM) as well as polyol plants in China. The production capacity of two plants of polyether polyols is 125,000 tonnes/year.
  • In January 2021, with the expansion of the business Stepan Company acquired INVISTA's aromatic polyester polyol business and associated assets.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand for Flexible and Rigid Polyurethane Foam

      2. 4.1.2 Growth of Automotive Industry

      3. 4.1.3 Rising Demand from Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Volatile Prices of Raw Materials

      2. 4.2.2 Stringent Government Regulations on Polyurethane Foam Manufacturing

    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

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Flexible

      2. 5.1.2 Rigid

      3. 5.1.3 Other Types

    2. 5.2 End-user Industry

      1. 5.2.1 Furniture and Bedding

      2. 5.2.2 Construction

      3. 5.2.3 Automotive

      4. 5.2.4 Electrical and Electronics

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    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 Arpadis Benelux NV

      2. 6.4.2 BASF SE

      3. 6.4.3 China Petrochemical Corporation.

      4. 6.4.4 Covestro AG

      5. 6.4.5 Dow

      6. 6.4.6 Huntsman International LLC.

      7. 6.4.7 PCC Group

      8. 6.4.8 Purinova Sp. z o.o.

      9. 6.4.9 Repsol

      10. 6.4.10 Shell plc

      11. 6.4.11 Solvay

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Worldwide Interest in the Production of Environmentally Sustainable Polyurethane Foams

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

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

The Polyether 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 SE, Shell plc , Covestro AG, Dow, Solvay are the major companies operating in Polyether Polyol Market.

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