Polyols Market Size By Trends, Growth Rate, Consumption By Regional Data And Forecast 2022-2031

The report on Polyols Captures Its Market size by its volume and value. The polyols market is growing with a moderate rate in Asia-Pacific and RoW. The demand for polyols is driven by the following factors:

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Rapidly growth in construction activities and a growing automotive industry in Asia-Pacific is attributing to the growing demand for polyols. The demand of polyols in Asia-Pacific for the last five years grew at a CAGR of 10.28%. The government’s strategy to improve infrastructure had led to rapid execution of various developmental projects such as NHDP, Metro and BRTS in India. These investments have increased the consumption of polyol based feedstock materials such as foams and CASE in India.

The government in China has made significant investments in infrastructure expansion projects such as airports development projects. The Chinese Civil Aviation Administration (CAAC) is expected to invest $100 million on the construction of 69 regional airports by 2015. In Japan, Mitsubishi Corporation and C-tech jointly established the Tahara Solar Company. The company operates a 77.0 MW mega solar power plant, which is one of the largest solar projects in Japan. This growing emphasis on construction activities in these countries is expected to drive the demand of polyols in next five years.

Manufacturers are developing new methods and techniques such as production of Co2 based polyols and natural oil based polyols in order to meet the government regulations related to increasing environmental concerns .and supply constraints related to petroleum based polyols.

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The demand for polyurethane foams (flexible & rigid) has increased in the last few years. The automotive manufacturers now use polyurethane foams for various automotive components such as head rests, arm rests, interior panels and skins, car and truck fenders, truck beds and support rings for run- flat tires, headliners and other interior systems in automobiles. The manufacturers use polyurethane in vehicles to reduce weight, increase fuel efficiency, durability, and acoustic insulation of vehicles. Recent developments in polyurethane technology for automotive design have led to increased weight reduction, passenger comfort, moisture & thermal resistance, and compressive strength in vehicles.

The World Integrated Trade Solution (WITS) of the World Bank recorded the United States to be the largest exporter of chemicals in the world, amounting for an export value of about USD 345.65 billion, followed by China with USD 158.75 billion worth of exports.

Furthermore, there is an ever-increasing demand for chemicals that are more environment-friendly, backed with the imposition of stringent government regulations to control pollution on a global level. It is calculated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2022

. On the other hand, estimations also show that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. This in turn, is projected to raise the in-flow of investments by market players for the development of new technologies to manufacture products with reduced toxicity.

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