Persistence Market Research (PMR) has published a new report in its report repository. The report is titled, “Polyester Polyols Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025.” Polyol is a liquor, which essentially comprises of substantial number of hydroxyl amalgamates. It is characterized into polyether and polyester polyol. Prior, polyester polyols were utilized in both adaptable and unbending froth plans. In any case, in 1957, polyfunctional polyether polyols were presented for use in urethane based foam systems. Despite the fact that the improvement of inflexible polyether foams was extensively slower than that of the adaptable polyether foams, critical steps have been made in this field, and unbending polyether froths at present rule the inflexible urethane based froth market.
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In order to cater to the growing needs of the consumers and the vertical industries, the manufacturers if polyester polyol are focusing on production expansion along with product portfolio expansion. This will help them not only in expanding their consumer base but also retain their position in the market. For instance, In July 2016, Stepan Company expanded its polyester polyols division in Brzeg Dolny, Poland, with the addition of a new reactor. This expansion would help the company’s growth of C.A.S.E. (Coatings, Adhesives, Sealants and Elastomers) business. The other companies operating in the market are
- Stepan Company
- Purinova LLC
- Saudi Arabian Oil Co.
- Grupo Synthesia
- Emery Oleochemicals
- Huntsman Corporation
- Myriant Corporation
- Helios Group (Kansai Paint)
- Lanxess AG
- Covestro AG
- DIC corporation
- The DOW chemical company (DoWDuPoint)
- BASF SE
According to the report, the global polyester polyol is expected to witness a CAGR of 5.3% from 2017 to 2027. The market was valued at US$ 7,788.7 Mn in 2017 and is projected to rise to a valuation of US$ 11,963.6 Mn by the end of 2025.
Growing Applications in Leather and Footwear Market to Make Way for Future Prospects
Polyurethane elastomers that are extracted from polyester polyols are highly preferred materials that are used in the manufacturing of shoe soles and different other footwear products. They are a preferred option as they are tough and durable which is a core requirement for footwear items. Polyester polyols are also inexpensive in nature and their specialized application capabilities make them perfect for soft material footwear applications. Besides, polyester polyols are known to create apposite and translucent thermoplastic elastomers. Moreover, polyester polyols also offer greater thermal stability as compared to polyether polyols, which makes them a preferred option in several industrial applications.
Moreover, at present, manufacturers of polyester polyols have been concentrating on using eco-friendly raw materials, for example, bio-succinic acid for the manufacturing of polyester polyols, thereby decreasing the environmental footprint significantly. This, in turn, has been rendering into a reduction in performance penalty at a competitive cost, which has been inspiring polyester polyol producers to expand their production capacity in order to cater to the growing demand from consumers. Moreover, this has also been leading to a reduced dependence on petroleum-based raw materials which are extremely vulnerable to the price fluctuations of crude oil.
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Negative Chemical and Physical Properties to Hamper Adoption Rate
Polyester polyols lose molecular weight in the manifestation of heat and moisture and act to reactant acids and alcohols. This dilapidation process is catalyzed by the presence of acid end groups that are an unavoidable product of the polyester polymerization process. These acid end groups also degrade PU network connectivity by effectively acting as chain stoppers. Besides, polyester-based PUs have lower hydrolysis resistance. Polyester polyols also display moisture absorption propensities and to an extent, demonstrate toxicity. These adverse characteristics have been hindering application of polyester polyols in various industries to an extent, thereby impacting its market growth rate.