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Polyester Polyol Market Size (2024 - 2029)

The polyester polyol market is anticipated to experience growth over the forecast period, driven by the rising demand for polyurethane foam and aromatic polyester polyol across various applications. Despite the challenges posed by increasing raw material costs, the market is expected to expand, with the Asia-Pacific region leading in market size and growth rate. The shift towards bio-based raw materials presents additional opportunities for market expansion. The market's recovery from the COVID-19 impact in 2020 has set the stage for steady growth moving forward.

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Market Size of Polyester Polyol Industry

polyester polyol market size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

polyester polyol market share

*Disclaimer: Major Players sorted in no particular order

Polyester Polyol Market Analysis

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.

Polyester Polyol Industry Segmentation

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)

Type
Aliphatic Polyester Polyols
Aromatic Polyester Polyols
Application
CASE (Coating, Adhesives, Sealants, Elastomers)
Flexible Foam
Rigid Foam
Others
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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Polyester Polyol Market Size Summary

The polyester polyol market is poised for steady growth, driven by the increasing demand for polyurethane foam across various applications. This demand is particularly strong in sectors such as automotive, transportation, and construction, where polyester polyol is used extensively. The flexible foam segment, in particular, dominates the market due to its versatility in applications ranging from furniture cushioning to automotive interiors. Despite challenges such as rising raw material costs, the market is expected to benefit from the growing interest in bio-based raw materials, which presents new opportunities for innovation and sustainability. The Asia-Pacific region, with its rapidly expanding consumer markets and robust industrial base, is anticipated to lead the market, with China and India playing pivotal roles due to their significant production capacities in footwear, automobiles, and textiles.

The market landscape is characterized by a consolidated structure, with major players like BASF, Arkema, Huntsman Corporation, Stepan Company, and Evonik actively shaping the industry dynamics. Strategic initiatives such as Huntsman Corporation's new factory in Taiwan and Stepan Company's acquisition of INVISTA's aromatic polyester polyol business highlight the ongoing efforts to expand production capabilities and enhance market presence. The region's economic growth, particularly in China and India, is further supported by government initiatives aimed at boosting local industries, which is expected to sustain the demand for polyester polyol. As a result, the global polyester polyol market is set to experience consistent growth, driven by both regional developments and strategic industry movements.

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Polyester Polyol Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increase Usage for Aromatic Polyester polyol

      2. 1.1.2 Increasing Demand for PU Foam in Various Applications

    2. 1.2 Restraints

      1. 1.2.1 Increasing Price of Raw Material

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Aliphatic Polyester Polyols

      2. 2.1.2 Aromatic Polyester Polyols

    2. 2.2 Application

      1. 2.2.1 CASE (Coating, Adhesives, Sealants, Elastomers)

      2. 2.2.2 Flexible Foam

      3. 2.2.3 Rigid Foam

      4. 2.2.4 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Polyester Polyol Market Size FAQs

The Polyester Polyol Market is projected to register a CAGR of 5% during the forecast period (2024-2029)

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

Polyester Polyol Market Report Snapshots

Polyester Polyol Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)