The polyols market share is set to post an incremental growth of USD 15.06 billion, and the market will be progressing at a CAGR of 8.36% during the forecast period. The increasing demand for polyols in the automotive and construction industries is anticipated to drive the demand for polyols. Technavio's research report identifies and analyses the growth drivers that will boost the market growth. It also provides a thorough understanding of all the segments, trends, and challenges that are likely to have an impact on the future prospects of the market in focus.
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Technavio has identified that the increasing demand for polyols in the automotive and construction industries as one of the key factors that will drive the polyols market size. However, the volatile prices of raw materials may impede polyols market growth. Technavio's research report provides a comprehensive analysis of all the other factors that will propel market growth. The report also takes into account the current market scenario, trends, and challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their businesses.
The polyols market is segmented by Type (polyether polyols and polyester polyols), Application (flexible polyurethane foams, rigid polyurethane foams, and CASE), and Geography (APAC, Europe, North America, South America, and MEA).
Based on the market segmentation by type, the polyols market share in the polyether polyols segment will be significant during the forecast period. By geography, 38% of the market's growth will originate from APAC during the forecast period. The increase in the number of residential, non-residential, and public infrastructure projects, particularly in India, China, Malaysia, and other developing countries, will facilitate the polyols market growth in APAC over the forecast period.
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
BASF SE, Cargill Inc., Covestro AG, Dow Inc., Huntsman Corp., LANXESS AG, Mitsui Chemicals Inc., Royal Dutch Shell Plc, Solvay SA, and Stepan Co. are some of the major polyols market vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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