The Europe Polyols Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,702.3 Kilo Tonnes, showcasing a growth of 5.2% (2019-2022).
Major manufacturers have investigated bio-based polyols to reduce their reliance on conventional petrochemical-derived polyols in light of increasing environmental concerns and volatile raw material costs. The vendor landscape is highly concentrated and oligopolistic. The market leaders' diverse strategies have paved the way for lesser competitors to follow. Moreover, new entrants for polyol and polyurethane products like foams, coatings, elastic materials, and sealants are pursuing more significant opportunities.
Furthermore, polyol suppliers engage in future integration to produce polyurethane, substantially reducing long-term logistics expenses and procurement challenges. Consumers' growing awareness of product benefits has compelled suppliers to maintain high-quality standards by integrating them into the production stage. The market is driven by the increasing demand for rigid and flexible polyurethane in various application areas, such as mattresses, cushioning, carpeting, car seat manufacturing, and other interiors. Polyols have applications in the automotive industry due to their low price, improved hydrolytic stability, and rising demand. In the construction industry, polyols are required for energy conservation activities involving rigid foams with high insulating properties. In addition, the accelerating rate of industrialization has increased the use of polymers and other materials in developing nations.
According to the United States Department of Agriculture, Russia's food processing has grown by an average of five percent annually. In 2019, Russia's food and beverage processing industries generated 102.4 billion US dollars in revenue. Currently, there are an estimated 22,000 food processing companies in Russia. The growth of the food processing industry in Russia offers several opportunities for using polyols in various food products and packaging materials. As consumer preferences evolve and health-consciousness increases, polyols can be vital in developing healthier, tastier, and more sustainable food options. This, in turn, can drive the growth of the polyols market in Russia. The factors mentioned above will lead the market growth in this region.
The Germany market dominated the Europe Polyols Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,340.4 million by 2030. The UK market is experiencing a CAGR of 5.6% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 7.3% during (2023 - 2030).
Based on End-use, the market is segmented into Building & Construction, Furnishings, Automotive, Packaging, Electronics, and Others. Based on Product, the market is segmented into Polyether, and Polyester. Based on Application, the market is segmented into Flexible Foam, Rigid Foam, Coatings, Adhesives & Sealants, Elastomers, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Polyols Market will Hit $58.5 Billion by 2030, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Dow Chemical Company, BASF SE, Vertellus, Huntsman Corporation, Lanxess AG, Mitsui Chemicals, Inc., Stepan Company, Koch Industries, Inc. (Invista BV), Tosoh Corporation, and Shell plc.
By End-use (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Product
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 