Polyether Polyols Market Analysis
Polyether Polyols Market - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Polyether polyols are a type of polyols containing an ether chain with two or more hydroxyl groups attached to terminal groups. Polyether polyols with higher molecular weight can range from 2,000 to 10,000 and are used for the production of more rigid products. They are manufactured through catalytic addition reaction between epoxides or cyclic ethers. Generally, ethene oxides, butane oxides, and propene oxides are used for the manufacturing of polyether polyols. Moreover, initiators such as sucrose, water, amines, and glycols are used in the manufacturing of polyether polyols. Furthermore, the physical properties of polyether polyols decide the length of the polymer chain. Polyether polyols are used for manufacturing of polyurethane foams. It finds applications in furniture, bedding, car interiors, seats, and carpet inlays.
Global polyether polyols market size was valued at US$ 2.2 billion in 2018, and is expected to register a CAGR of 6.01% during the forecast period (2019-2027). Increasing demand for polyurethane is expected to support market growth in the near future. Extensive use of polyurethane in various industries such as furniture, packaging, footwear, electronics, building and construction, and transportation is expected to boost the demand for polyether polyols and subsequently drive growth of the market. Moreover, polyurethane foams are used in refrigeration, which is expected to boost the market. Furthermore, growing applications of polyether polyols in the manufacturing of adhesives, lubricants, elastomers, sealants, surface active agents, etc. are expected to accelerate the market growth during the forecast period. Polyether polyols are also used in production of coatings, inks, castings, and deformers, which is expected to boost the market in the near future. Bio-based polyether polyols that are manufactured from natural oil are expected to have ample growth opportunities, owing to availability of huge feedstock.
However, due to health hazards related to polyols are restraining its demand and hence hinder growth of global polyether polyols during the forecast period.
Marker Regional Analysis
Global polyether polyols market is expected to witness significant demand in Asia Pacific region, owing to increasing demand for polyurethane from various industries. Polyurethane has significant demand in emerging economies such as India and China from industries including automotive, furniture, bedding, etc. This is expected to increase the demand for polyether polyols and subsequently drive market growth. Furthermore, Europe is expected to hold significant market share, owing to increasing demand for polyurethane foams in the region. North America too is expected to have significant growth in the global market.
Key players operating in the global polyether polyols market include Huntsman International LLC, Bayer AG, Royal Dutch Shell, The Dow Chemical Company, and BASF SE.