“Significant changes in terms of energy saving, innovation and advancement in insulation technology propelled by the upsurge in the construction of energy efficient buildings will drive the growth of Aromatic Polyester Polyols Market during the forecast period,” says a senior market research analyst at Persistence Market Research.
The company through a recently published intelligence outlook provides crucial insights on the global aromatic polyester Polyols market and fetches significant information through organized market research. The report titled “Aromatic Polyester Polyols Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026” appraises the market and foresees the future market scenario on the basis of production process, application, end-use industry and region.
The Aromatic Polyester Polyols report divulges that the use of aromatic polyester Polyols for the manufacturing of rigid foams is anticipated to contribute for majority of the consumption (>50%) throughout the forecast period. The global Aromatic Polyester Polyols market was pegged at US$ 1,005.9 Mn in terms of value at the end of 2017 and is expected to reach US$ 1,511.5 Mn by expanding with CAGR of 5.2% during the forecast period.
Aromatic Polyester Polyols Market: Dynamics
Aromatic Polyester Polyols are widely used in building & construction industry, owing to which the growth of building & construction industry is the prime factor responsible for the growth of aromatic polyester Polyols market. The increased awareness for energy saving has led towards the construction of energy efficient building, owing to which there up surge in the adoption of polyurethane and polyisocynurate foams, which are mainly manufactured from Aromatic Polyester Polyols.
The increased demand for PU & PIR foams has fueled the growth of aromatic polyester Polyols market. Also the stringent building codes and increased government initiatives for energy efficient buildings has positively impacted the global aromatic polyester Polyols market. Also the increasing use PU & PIR foams for thermal insulation packaging is driving the growth of aromatic polyester Polyols market. Up rise in automotive production and increased consumption of consumer appliances are other factors accountable for the growth of aromatic polyester Polyols across the globe.
Moreover the demand for rigid foams is mainly driven by the rising demand for boards & panel along with pipe in pipe insulation. Besides it the demand for spray foam is expected to witness significant growth due to the increasing demand from new & pre-existing buildings to meet the energy efficiency requirement, which is optimistic sign for the aromatic polyester Polyols market. Apart from that other applications such as flexible foam, coatings, adhesives & sealants and elastomers will have a positive impact on the aromatic polyester Polyols market.
Aromatic Polyester Polyols Market: Segmentation Analysis
In the commercial aromatic polyester Polyols market there are numerous production process are existing out which PET and Pthalic Anhydride are the prominently used. In terms of production process Pthalic Anhydride segment is predominant in the global aromatic polyester Polyols market as it is pre-existing and primarily adopted by prominent market players. However in the upcoming years. PET segment is estimated to witness significant growth in aromatic polyester Polyols market owing to the shifting trends towards the utilization of recycled raw materials.
Aromatic Polyester Polyols Market: Regional Market Scenario
In terms of region or country, North America and Europe are prominent markets for aromatic polyester Polyols due to increasing demand for high thermal insulation materials due to the stringent building codes for energy efficiency. On the other hand China is estimated to witness significant growth due rising government initiatives for the development of energy efficient buildings.
China is estimated to expand with CAGR of 7.4%, and is expected to surpass Europe during the latter half of the forecast period. Apart from it the regions such as SEA & Pacific and Latin America are expected to witness high growth over the forecast period to the growth of building & construction. Also the regions such Middle East & Africa and Japan are anticipated to show decent growth over the course of forecast period.
Global Aromatic Polyester Polyols Market Competitive Landscape
Some of the players stated in the study of Global Aromatic Polyester Polyols market include Huntsman International LLC, Stepan Company, BASF SE, Purinova Sp. z o.o., Emery Oleochemicals, Baalbaki Chemical Industries, Covestro AG, INVISTA, and Grupo Synthesia among others.