Aromatic polyester polyols market to expand
NEW YORK—The global aromatic polyester polyols market is expected to reach $1.5 billion through 2026 with expansion of compound annual growth rate of 5.2 percent, according to a new report from Persistence Market Research.
"Aromatic Polyester Polyols Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026," covers the current and future market on the basis of production process, application, end-use industry and region, according to a company news release.
Aromatic polyester polyols for the manufacturing of rigid foams is expected to contribute to the majority of consumption throughout the forecast period. At the end of 2017, the global market was assessed at $1 billion.
Construction of energy efficient buildings is driving the market growth, especially as significant changes are made in areas of energy savings, innovation and advancement. Increased demand for polyurethane and polyisocyanurate foams for thermal insulation packaging also is pushing the market. Other factors include a rise in automotive production and increased consumption of consumer appliances.
Demand for rigid foams mainly is driven by demand for boards and panel with pipe in pipe insulation, Persistence said. The demand for spray foam is expected to see significant growth because of increasing demand for energy efficiency in new and pre-existing buildings, an optimistic sign for aromatic polyester polyols. Other applications—such as flexible foam, coatings, adhesives and sealants, and elastomers—are expected to have a positive impact on the market.
By segment, polyethylene terephthalate and pthalic anhydride are the most prominently used production process, Persistence said. Pthalic Anhydride is predominant in the global market, as it is pre-existing and primarily adopted by prominent market players. PET is expected to have significant growth in the aromatic polyester polyols market because of the shifting trends toward using recycled raw materials.
By region, North America and Europe are leading markets for aromatic polyester polyols because of increasing demand for high thermal insulation materials through energy efficiency codes, Persistence said.
The market in China is expected to grow because of increased government initiatives for energy efficient buildings, with a CAGR of 7.4 percent in the period. It is anticipated to pass Europe during the latter half of the forecast period. Regions such as Southeast Asia and Pacific and Latin America should see high growth during the forecast period through increased building and construction. Regions including the Middle East, Africa and Japan will show decent growth during the period.
Some companies named in the study include Huntsman International L.L.C., Stepan Co., BASF S.E., Purinova Sp. z o.o., Emery Oleochemicals, Baalbaki Chemical Industries, Covestro A.G., Invista and Grupo Synthesia, among others.
The report is available for a single license at $4,900, a multi-user license for $7,600 and a corporate user license for $10,600.
It can be found at persistencemarketresearch.com.
» Publication Date: 29/08/2019
This project has received funding from the Bio-Based Industries Joint Undertaking under the European Union’s Horizon 2020 research and innovation programme under grant agreement Nº 745828