Some of the major players in the polyols market are Royal Dutch Shell PLC, BASF SE, Bayer AG, Dow Chemicals, Invista B.V., Cargill Incorporated, Mitsui Chemicals, Inc., COIM S.P.A., Emery Oleochemicals, Lonza Group, Chemtura Corporation, and others. These players are set to bolster the development of polyols market in the years to come.
According to the analysts at Zion Market Research, Global polyols market was capitalized at USD 21.60 Billion in 2016 and is likely to cross USD 34.0 Billion in 2022, developing at a CAGR of 8.0% from 2017 to 2022.
Requirement From The Construction Sector In The Emerging Nations To Cause Noteworthy Development In The Global Polyols Market
The global polyols market is likely to see noteworthy development majorly due to the requirement from the construction sector in the emerging nations. The construction sector in developing nations such as China and India is likely to develop at a noteworthy rate in the near future, towering the polyols market. Government policies and schemes are also likely to power the development of construction sector, which will indirectly fuel the polyols market. Furthermore, the increasing requirement for insulation goods in North America is also likely to tower the development of the global polyols market in the years to come. On the other hand, the unpredictability in the costs of raw materials of polyols might hamper the development of the polyols market in the foreseeable future. The launch of green and bio-based polymers is likely to present new avenues to deal with the volatile costing issue for the market players in the polyols market in the years to come. Heavy investment by market players is also set to boost the polyols market. For example, in May 2016, Goshen Polyols set up India’s first on-site PCC Plant, boosting the polyols market.
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Increasing End-User Sectors In The Region Such As Construction And Automotive To Boost The Development Of Polyols Market In Latin America
Polyether polyols and polyester polyols are the 2 products types of polyols market. The polyether polyols added up for the biggest share in 2016 in the global polyols market. This can be credited to their extensive employment in the rigid foams sector due to their low molecular weight and tightly cross-connected structure. Furthermore, polyether polyols shows abrasion resistance, better resilience, and hydrolytic stability.
Asia Pacific was the biggest area for polyols market in 2016 and is likely to clock the quickest development rate in the near future due to the extensive requirement from the up-and-coming nations in the area. The Middle East & Africa and Latin America are also likely to clock noteworthy development rates for polyols market during the near future owing to the increasing end-user sectors in the region such as construction and automotive.
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