USD 29.10 Billion
Polyols and Polyurethane Market Size, Share, Growth Analysis, By Product type(Polyether Polyols and Polyester Polyols), By Application(Flexible Foams, Rigid Foams, Coatings, Adhesives and Sealants), By End-User(Furniture and interiors, Construction, Electronics and appliances, Automotive), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15B2050 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
95
|Figures:
76
Polyols and Polyurethane Market Insights
Polyols and Polyurethane Market size was valued at USD 30.61 Billion in 2023 and is poised to grow from USD 32.2 Billion in 2024 to USD 48.31 Billion by 2032, growing at a CAGR of 5.20% during the forecast period (2025-2032).
The global market is witnessing a surge in demand, driven by the growing automotive and building and construction industries. The emphasis on energy conservation has also propelled the need for rigid foams with high insulation properties, particularly in the building and construction sector. The construction industry is expanding to accommodate the rapidly growing population, which is anticipated to boost the consumption of Polyols and Polyurethanes in building components such as exterior panels, insulation protective materials, and housing electronics. The automotive and packaging sectors are also experiencing significant growth, further contributing to the market expansion. To streamline operations and reduce costs, polyol suppliers are integrating forward into the production of polyurethane. This integration helps minimize logistics costs and procurement challenges in the long run. Suppliers are also striving to maintain high-quality levels by incorporating themselves into the production stage, as consumers are becoming increasingly aware of product benefits.
Sustainability has become a significant focus in building development, with increasing investments in smart and energy-efficient commercial and residential buildings. These structures not only provide profitable opportunities but also align with environmental and federal regulations, meeting consumer expectations for sustainability. As a result, the demand for efficient insulating materials, such as polyurethane foams, has risen to regulate heating, ventilation, and air conditioning (HVAC) systems and reduce energy loss. However, it is important to note that the production of polyurethane involves hazardous raw materials such as TDI and MDI, which can have adverse effects on the environment. The release of TDI during industrial processes pollutes the air and poses a hazard to human health, as assessed by Environment Canada and Health Canada. Thus, there is a need for careful management and mitigation of these environmental concerns in the production and application of Polyols and Polyurethanes.
US Polyols and Polyurethane Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
polyether polyols
Fastest Growth
polyester polyols
Growth Rate
5.20% CAGR
Global Polyols and Polyurethane Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Polyols and Polyurethane Market Segmental Analysis
Global Polyols and Polyurethane Market is segmented by product type, application, and region. Based on product type, the market can be segmented into polyether polyols, and polyester polyols. Based on application, the market is segmented into flexible foams, rigid foams, coatings, adhesives and sealants, and elastomers. Based on end-user, the market can be segmented into furniture and interiors, construction, electronics and appliances, automotive, footwear, packaging, industrial insulation, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Polyols and Polyurethane Market Analysis by Product Type
By product type, the market can be segmented into polyether polyols and polyester polyols. Polyether polyols dominated the global polyols and polyurethane market. These polyols are produced through the polymerization of ethylene oxide or propylene oxide. They possess excellent hydrolytic stability and low viscosity, making them highly desirable in various applications. Polyether polyols find extensive use in the production of flexible foams, coatings, adhesives, and sealants. They provide excellent flexibility, resilience, and cushioning properties, making them ideal for applications in bedding, furniture, automotive interiors, and packaging.
Polyester polyols represent the fastest-growing segment in the global polyols and polyurethane market. These polyols are derived from the esterification of a polyol with a diacid or a diester. They possess excellent chemical resistance and mechanical properties, making them suitable for a wide range of applications. Polyester polyols are widely used in the production of rigid foams for insulation purposes in the construction industry. The growing emphasis on energy efficiency and insulation requirements in buildings is driving the demand for rigid foam, thereby boosting the growth of polyester polyols.
Polyols and Polyurethane Market Analysis by Application
By application, the market can be segmented into flexible foams, rigid foams, coatings, adhesives and sealants, and elastomers. Flexible foams dominated the global polyols and polyurethane market. These foams are used in a wide range of applications such as bedding, furniture, automotive interiors, and packaging. They offer excellent comfort, resilience, and energy absorption properties, making them highly sought after in various industries.
Coatings represent the fastest-growing segment in the global polyols and polyurethane market. Polyurethane coatings provide exceptional protection against corrosion, abrasion, and chemical exposure, making them popular in various industries such as automotive, aerospace, construction, and industrial applications.
Global Polyols and Polyurethane Market By Product Type
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Polyols and Polyurethane Market Regional Insights
The Asia Pacific (APAC) region dominated the global Polyols and Polyurethane market. This region has witnessed significant growth in various industries, including automotive, building and construction, refrigeration and freezer manufacturing, and packaging. APAC countries, such as China, India, Japan, and South Korea, have been driving the demand for Polyols and Polyurethanes due to their expanding economies and population. In the automotive sector, APAC has emerged as a major hub for vehicle production, with a high demand for Polyurethane materials in applications such as interior components, seating, and insulation. The building and construction industry in the region has experienced rapid growth, driven by infrastructure development and urbanization.
North America is expected to be the fastest growing region in the global Polyols and Polyurethane market. The growth is primarily attributed to the rising demand for Polyols and Polyurethanes in various end-use industries, including automotive, construction, furniture, and bedding. The construction industry in North America is witnessing a surge in demand for energy-efficient buildings and green construction practices. Polyurethane materials, known for their excellent insulation properties, are being extensively used in insulation panels, roofing, and sealants, contributing to the market growth.
Global Polyols and Polyurethane Market By Region
- Largest
- Fastest
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Polyols and Polyurethane Market Dynamics
Polyols and Polyurethane Market Drivers
Increasing emphasis on energy conservation
- One significant driver for the growth of the global Polyols and Polyurethane market is the increasing emphasis on energy conservation. This trend is particularly prominent in the building and construction industry, where there is a rising demand for rigid foams with high insulation properties. The need for efficient insulation materials to regulate heating, ventilation, and air conditioning (HVAC) systems and reduce energy loss has led to a higher demand for Polyurethane foams..
Polyols and Polyurethane Market Restraints
Environmental concerns associated with the production and application
- A key restraint for the global Polyols and Polyurethane market is the environmental concerns associated with the production and application of these materials. Raw materials used in the production of Polyurethane, such as TDI and MDI, are considered hazardous to the environment. The release of TDI during industrial processes poses risks to air pollution and human health. As a result, there is a need for stricter regulations and sustainable practices to mitigate the environmental impact of Polyols and Polyurethanes, which could restrain market growth.
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Polyols and Polyurethane Market Competitive Landscape
Global Polyols and Polyurethane market is characterized by a mix of established and emerging players. These companies are focusing on research and development activities to introduce innovative products and expand their market presence. Strategic partnerships, collaborations, and mergers and acquisitions are also common strategies employed by companies to enhance their market position. Additionally, there is a growing emphasis on sustainable manufacturing practices and the development of eco-friendly products to meet evolving consumer demands. The competition in the market is intense, driven by factors such as product quality, pricing, and technological advancements.
Polyols and Polyurethane Market Top Player’s Company Profiles
- Huntsman Corporation (US)
- Mitsui Chemicals Inc. (Japan)
- Chemtura Corporation (US)
- Shell Chemicals (Netherlands)
- Wanhua Chemical Group Co., Ltd. (China)
- Recticel NV (Belgium)
- Manali Petrochemicals Limited (India)
- FoamPartner Group (Switzerland)
- Foamcraft Inc. (US)
- Trelleborg AB (Sweden)
- Woodbridge Foam Corporation (Canada)
- Sekisui Chemical Co., Ltd. (Japan)
- LANXESS AG (Germany)
- SABIC (Saudi Arabia)
- Armacell International S.A. (Luxembourg)
- Inoac Corporation (Japan)
- British Vita Limited (UK)
Polyols and Polyurethane Market Recent Developments
- In June 2023, Wanhua Chemical Group announced a strategic partnership with Stahl, a leading specialty chemicals company, to jointly develop sustainable coating solutions for the automotive and industrial markets.
- In April 2023, Covestro launched a new sustainable polyurethane raw material, Cardyon®, which is partially based on carbon dioxide, reducing the reliance on fossil resources.
- In March 2023, Huntsman Corporation acquired Icynene-Lapolla, a leading manufacturer of spray polyurethane foam insulation, to strengthen its position in the North American insulation market.
- In January 2023, BASF announced plans to invest €25 million in expanding its polyurethane dispersions production in Spain, catering to the growing demand for sustainable coating applications.
- In July 2022, Covestro acquired Royal DSM's Resins & Functional Materials business, expanding its portfolio in the areas of sustainable coatings, adhesives, and specialty polyurethane materials.
Polyols and Polyurethane Key Market Trends
- One key market trend in the Polyols and Polyurethane industry is the growing focus on sustainable and eco-friendly materials. As environmental consciousness increases, there is a rising demand for Polyols and Polyurethanes derived from renewable sources or with reduced carbon footprint. Companies are investing in research and development to develop bio-based Polyols and Polyurethanes, utilizing feedstocks such as vegetable oils and biomass. This trend aligns with the broader sustainability goals of industries like automotive and construction, driving the adoption of greener alternatives and shaping the future direction of the market.
Polyols and Polyurethane Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global polyols and polyurethane market analysis, the market is experiencing significant growth driven by factors such as increasing demand from the automotive and building and construction industries. The APAC region, in particular, is emerging as a dominating market due to its expanding economies and population, leading to high demand for polyols and polyurethanes. The emphasis on energy conservation and sustainability is propelling the market, with a focus on rigid foams with excellent insulation properties in the construction sector. However, environmental concerns related to the production and application of Polyols and Polyurethanes pose a restraint, necessitating stricter regulations and sustainable practices. The competitive landscape is characterized by established and emerging players investing in R&D, partnerships, and sustainable manufacturing to stay ahead. Additionally, there is a growing trend towards eco-friendly materials, driving the development of bio-based Polyols and Polyurethanes derived from renewable sources.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 30.61 Billion |
| Market size value in 2032 | USD 48.31 Billion |
| Growth Rate | 5.20% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyols and Polyurethane Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyols and Polyurethane Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyols and Polyurethane Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyols and Polyurethane Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyols and Polyurethane Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyols and Polyurethane Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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