Aromatic Polyester Polyols Market
Global Market Study on Aromatic Polyester Polyols Market: Exceptional Inherent Mechanical Properties to Push Positioning as a Preferred Choice for Use in Panel Insulation
Aromatic Polyester Polyols Market Segmented By PET, Pthalic Anhydride Production Process with Rigid foam, Spray foam, Flexible foam, Coatings Adhesives and Sealants, Elastomers Application
The report covers comprehensive information about market trends, volume (Tons) and value (US$ Mn) forecasts, market dynamics, competition and latest developments in the global Aromatic Polyester Polyols market for the study period 2018 to 2026.
The global Aromatic Polyester Polyols market is estimated to be valued at US$ 1,005.9 Mn by 2018 end and is expected to reach US$ 1,511.5 Mn by the end of 2026, expanding at a CAGR of 5.2% over the forecast period. The global Aromatic Polyester Polyols market is anticipated to represent an incremental opportunity of US$ 505.5 Mn between 2018 and 2026. Increased stringent codes for energy efficient buildings will be the main factor which will drive the growth of the market.
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- Huntsman Corporation
- Covestro AG
- Stepan Company
- BASF SE
- Baalbaki Group S.A.
- DowDuPont Inc.
- Purinova LLC
- Grupo Synthesia
- Emery Oleochemicals
- Coim Group
- NEO GROUP, UAB
Aromatic Polyester Polyols Market: Introduction
Aromatic Polyester Polyols comprise a group of products which are polymers. This is primarily why no IUPAC name, chemical formula or CAS number can be given to them and thus, the products are known by their company brands.
Aromatic polyester polyols are mainly used for the production of polyisocyanurate and polyurethane foams for elastomers, adhesives, spray foams, construction, slabstock/bunstock applications, among others. Commercially, aromatic polyester polyols are based on ethylene glycol & low molecular weight PEG’s, polymerized with terephthalic acid, either dimethyl terephthalate, crude recycle crap of PET (polyester terephthalate) and, phthalic anhydride.
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Aromatic Polyester Polyols Market to witness significant growth, owing to the growing demand for efficient thermal insulation materials:
Increasing population and growing urbanization in the developing countries has boosted the growth of building & construction industry. Also the increasing disposable income of certain developing countries has increased the infrastructural investment in such regions. The increasing number of stringent building codes for energy efficient buildings, especially in the matured regions has increased the demand for efficient and innovative thermal insulation materials. The growing building & construction industry is one of the prominent factor responsible for the growth of Aromatic Polyester Polyols market.
Rising automotive production is also contributing towards the growth of Aromatic Polyester Polyols market in the upcoming years. Increasing demand from other end use industry such as packaging and consumer appliances is positively impacting the demand for aromatic polyester Polyols in the global market. Increasing production capacity and emphasis towards technological innovation is an optimistic sign for the aromatic polyester Polyols market. Owing to the environmental concern some of the manufacturers are using recycled PET from PET bottles as a raw material.
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China to surpass Europe in Aromatic Polyester Polyols Market, during the latter half of the forecast period:
On the basis of region/country North America is anticipated to dominate the global aromatic polyester Polyols market, owing to the following factors:
- According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, there are large number of housing projects are under progression
- According to International Monetary Fund (IMF) Canada is estimated to witness significant boost in terms of commercial construction projects
Both the above mentioned factors will drive the demand for efficient thermal insulation materials, for energy efficient buildings which will drive the aromatic polyester Polyols market.
China is expected to witness lucrative growth in the global aromatic polyester Polyols market. And China is anticipated to grow with significant CAGR of 7.4% and will surpass Europe in the global aromatic polyester Polyols market.
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Aromatic Polyester Polyols Market: Competition Landscape
Aromatic Polyester Polyols market is highly consolidated owing to the presence of only few number of market players in the global market. Tier 1 players account for ~55-65% of the market share in the global aromatic polyester Polyols market. Expansion, acquisition, joint venture and collaboration are among the key strategies implemented by key players to grow and sustain in the global Aromatic Polyester Polyols market. Some of the key developments are:
- In August 2018, Huntsman Corporation announced to open a multipurpose facility at Amata Vietnam Industrial Park, near Ho Chi Minh City, in Vietnam. This facility will house company’s polyurethanes & advanced materials business. The location will have a manufacturing facility and R&D center along with technical centers and other facilities
- In June 2016, the polyurethanes segment launched a new range of resins – VITROX ABR, which can make abrasive products more cost-effective, time-efficient and flexible for product application. Back in 2010, Huntsman developed a special polyurethane pre-polymer based on rapeseed oil with the help of Oleon, oleochemicals manufacturer in Belgium
- In 2014, the Huntsman corportation planned to establish a crude MDI production plant at Shanghai Lianheng in Caojing, China with the help of firms, such as BASF, SINOPEC Group Assets Management Corporation and Shanghai Chlor-Alkali Chemicals. This will allow full access and utilization of energy and raw materials
Aromatic Polyester Polyols Market: Key Participants
Some of the key market participants acknowledged in the global aromatic polyester Polyols market are:
BASF SE, Purinova LLC, Grupo Synthesia, Stepan Company, Emery Oleochemicals, Huntsman Corporation, and COIM group among others