The Latin America, Middle East and Africa Polyols Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,465.6 Kilo Tonnes, showcasing a growth of 6.5% (2023-2030).
The most significant application for polyols is in producing polyurethane foam, used in various products such as furniture, mattresses, automotive interiors, and insulation materials. Polyols are one of the vital raw materials in the manufacture of both flexible and rigid polyurethane foams. Certain polyols like sorbitol, xylitol, and mannitol are used in the food and pharmaceutical industries as sugar substitutes and sweeteners. They have the advantage of being sugar-free and lower in calories. Polyols produce various plastics and resins, including thermoplastic polyurethanes, thermosetting polyurethane resins, and epoxy resins. Polyols like glycerin and propylene glycol are common ingredients in personal care and cosmetic products. They are used as humectants to retain moisture in skin and hair care products. Some polyols serve as important chemical intermediates in synthesizing other chemicals and compounds.
According to the International Trade Administration (ITA), the UAE's construction industry is expected to recover significantly over the next five years, with a value increase of 3.7% and 4.7%. The nation's development program, which concentrates on expanding the infrastructure for industry, transportation, and energy, will be the main growth driver. The UAE government plans to implement several projects as part of the 50 initiatives to attract $149.8 billion in foreign direct investment over the coming nine years and accelerate the UAE's economic development. The UAE construction industry often competes globally, and polyol manufacturers that provide high-quality, innovative, and sustainable materials can benefit from this global industry access.
According to the National Library of Medicine, the medical sector in Saudi Arabia is the third subsidized sector, following the military and educational sectors, with over USD 46 billion in funding in 2019. The pharmaceutical industry is worth USD 8.3 billion. The growth of the pharmaceutical industry in Saudi Arabia has led to an enriched demand for polyols and polyurethane-based materials in various pharmaceutical applications. As the industry continues to expand and diversify its product offerings, polyols will likely play a crucial role in supporting pharmaceutical formulations and drug delivery systems. These factors drive the growth of the market in this region.
The Brazil market dominated the LAMEA Polyols Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,043.6 million by 2030. The Argentina market is showcasing a CAGR of 8.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Polyols Market is Projected to reach USD 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)
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