LONDON--(BUSINESS WIRE)--The global polyester polyol market size is poised to grow at a CAGR of about 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
PU foam is extensively used in several end-user industry verticals, such as automotive, construction, and paints and coatings. PU foams are widely used in the production of automotive components such as wiper cowls, side skirts, bumpers, roll pans, and also interior components of cars including seats, armrests, headrests, dashboards, roof liners, and instrumental panels. PU foams are also used in the construction industry to form a layer of insulation, and it provides weatherproof sealants as well as helps cover irregular shapes. As polyester polyol is one of the key ingredients used to manufacture PU foams, the surging demand for PU foams from the automotive and construction industry will fuel the growth of the polyester polyol market.
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As per Technavio, innovations in polyurethane (PU) will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Polyester Polyol Market: Innovations in Polyurethane (PU)
Research firms and other companies are constantly developing new forms of PU foams, including photo cross-linkable PU, to cater to the high demand for PU foams in several applications. Some innovations in PU include the patent issued by KURARAY through its investors for highly durable polyester polyols. The patent states that PU can be used in paints, adhesives, coatings, elastomers, artificial/synthetic leather, foams, and resins cured by activation energy rays. Therefore, innovations in PU will drive the demand for polyester polyols during the forecast period.
“Other factors such as the increasing demand for bio-based polyols, and the expansion of plant capacities will have a significant impact on the growth of the polyester polyol market value during the forecast period,” says a senior analyst at Technavio.
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Polyester Polyol Market: Segmentation Analysis
This market research report segments the polyester polyol market by type (aliphatic polyester polyols, and aromatic polyester polyols), application (C.A.S.E., flexible foam, rigid foam, and spray foam) and region (APAC, Europe, North America, and ROW).
The APAC held the largest share of the market in 2018, followed by Europe, North America, and ROW respectively. The APAC region is expected to maintain its dominance over the market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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