Polyols are organic compound that contain multiple hydroxyl groups. They are used in several industries for instance food and beverage, automobile, building and construction and likewise. In food and beverage industry they are widely used as sugar substitutes while they are predominantly used in polymer chemistry to manufacture polyurethanes by reaction with isocyanates. Polyurethanes are increasingly used to manufacture foams coatings, adhesives & sealants, elastomers, and others. Polyurethane foams are also used for insulation applications in building & construction, automotive, furnishing, electronics, and packaging industry among other. Polyols market is expected to rise on account of rising demand for the end user industries. Likewise, there are several other factors expected to drive the global polyols market in the coming few years. Some of them are mentioned as below-
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• Rising efforts to conservation energy in the building and construction industry by manufacturers are propelling demand for rigid foams with high insulation properties. Polyols are known for their excellent insulating properties. This is expected to emerge as a strong factor propelling the global polyols market in the coming few years.
• Similarly, in automotive industry there has been a shift from conventional heavy materials to lightweight, high performance plastics. This in turn is driving the use of polyurethane to automotive component weight and boost fuel savings. This is expected to have a positive impact on demand for polyols.
• However, a significant trend in the polyol market is seen as incorporation of bio-based polyols instead chemical base. This is mainly to reduce dependence on conventional petrochemicals.
• Petrochemicals are ill famous form their adverse effect on environmental. Apart from this volatile raw material prices are another factor demanding a shift from conventional polyols to bio-based polyols.
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